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Budget

Budget prioritization should be on agriculture modernization, mechanization: Khanal

The former Prime Minister also suggested on establishing an agricultural market in every ward of the local units and linking the farm produce to the national and international market.

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KATHMANDU: MAY. 18 – CPN (Unified Socialist) leader and former Prime Minister Jhalanath Khanal has said the coalition government should bring a ‘socialism-oriented budget’ in line with the letter and spirit of the Constitution.

Taking part in the discussions on the principles and priorities of the Appropriation Bill for Fiscal Year 2022/23 in the House of Representatives today, he suggested formulating a budget on the basis of the Directive Principles of the State included in the constitution.

Stressing on the need of modernizing and the mechanization of agriculture, leader Khanal reiterated increasing agricultural production for minimizing the food import. He said the tendency of fragmentation of cultivable land should be stopped and the farmers be provided with improved breeds of seed and fertilizers. He further added that investment in agriculture research should be boosted and the minimum price of agriculture produce determined.

The former Prime Minister also suggested on establishing an agricultural market in every ward of the local units and linking the farm produce to the national and international market.

He laid emphasis on the development of industries based on agriculture, tourism, minerals, forest and water resources for taking the country ahead towards industrialization and creating employment opportunities. Nepal itself should construct large hydroelectricity projects.

Leader Khanal suggested converting the petroleum-run vehicles into electric ones to reduce the import of petroleum products and ultimately the burgeoning trade deficit.

Reiterating the need to take a policy of increasing the domestic consumption of electricity and selling only surplus electricity, he said that it was important for the government to pay special attention to the expansion of transmission lines.

Urging to implement a progressive tax system, he said that the leakages of electricity should be tightened by widening the scope of taxes.

Furthermore, pressing for the earliest completion of the expansion of the East-West and North-South Highway, he viewed that Mahakali Corridor should be built in the Western part of the country and Mechi Corridor in the East.” It is important from the national security viewpoint. The border security would be further strengthened by Mahakali and Mechi Corridors,” he said.

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