Former Finance Minister Rameshwor Khanal Suggests Budget Focus on Domestic Production and Tax Reform
Summary
Former Finance Minister Rameshwor Khanal advocates for a budget focused on boosting domestic production through tax reforms and productive capacity enhancement, warning against unrealistic customs rate hikes that could harm the economy. He emphasizes partnership with the private sector to meet economic growth and poverty reduction goals.
Key Points
- Former Finance Minister Rameshwor Khanal urges the government to focus the new budget on encouraging domestic production and reducing business costs.
- He stresses the need for extensive reforms in the tax system, particularly reviewing indirect taxes like excise duty and customs rates.
- Khanal cautions against unrealistically increasing customs rates as it could harm the economy despite intentions to reduce imports.
- He calls for genuine partnership between the government and private sector to achieve economic goals like 7 percent growth and poverty reduction.
