FNCCI said the two-third budget has just saved country from becoming a failed state, but done nothing as such to accelerate the development activities and boost confidence of the private sector. [break]
"We are not happy with the budget since it doesn´t even address the mounting pressure of inflation in the economy," reads a press release issued on Wednesday. "The budget even has no proper allocation of fund for ongoing projects with long-term importance let alone introducing new programs."
The FNCCI, which was constantly advocating for full-budget based on larger political consensus among major political parties, has said that the budget that government unveiled would derail development process of the country.
"Donors´ assistance is also going to be affected due to this ´incomplete´ budget," reads the release. "We have been deeply despaired by this budget as we were long waiting for new programs that boost the confidence of the private sector."
Bhawani Rana, vice president of FNCCI, said the budget has just saved the country from taking any wrong course.
"There is nothing to be happy about. The private sector was optimistic when the government announced to celebrate Investment Year and other ´false´ promises," Rana said over phone. "We are still looking for a full-fledged budget that takes development programs in full-swing."
FNCCI, in its press release, also has urged all the political parties to forge consensus and bring full-budget that propels development activities in the country.
"Full budget is an urgent need of the country. We appeal to the government as well as oppositional parties to bring a full budget as soon as possible," states the statement. "Full budget is also necessary to take development partners into confidence and lure private sector to make new investment."
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