Adhikari who tabled the principles and priorities of the upcoming budget in the parliament Wednesday did not elaborate on what those programs would be. He also indicated that the upcoming budget could provide additional fiscal incentives to the financial sector players and encourage them to go for merger.[break]
During his presentation, FM Adhikari committed to reorient the new fiscal policy towards capital formation. But programs he floated in the parliament indicated that the budget for 2011-12 will also have a number of programs that will serve populist political motives.
"We will implement special programs after the names of politicians, personalities that made huge contributions to the social, cultural, literature and economic sectors," said Adhikari. He also said that the government would mobilize cooperatives to attain self-sufficiency in essential food items, meat, fish and vegetables, and stop imports of these products in three years.
"Cooperatives in all villages and employment in every household program will be implemented as a national campaign, providing financial support to the people below the poverty line," said Adhikari.
He promised to expand People´s Housing scheme, currently run for dalits in three districts, to backward communities, Badi, poor Muslims, Chepang, Raute and other groups, who are on the verge of extinction.
Adhikari said the new budget would also announce a program of developing at least one ´model village´ in all 75 districts of the country.
The budget will also promise to define basic health services and take steps to gradually make them free in the country. The much-talked but never implemented public health insurance scheme too will feature again in the new budget, according to the document submitted in parliament by the Ministry of Finance.
"We will end illiteracy within three years," said Adhikari in the parliament.
In a bid to lure investments, Adhikari said the new budget would take initiatives towards declaring the industrial sector a peace zone by fostering good industrial relations. He also promised a special program to restore the confidence of the private sector.
"Export promotion subsidy started in the current fiscal year will be implemented and expanded," said Adhikari, and also committed to start operations of special economic zones (SEZs) in the new fiscal year by enacting SEZ Act.
FM Adhikari promised to implement infrastructure development programs in a big way to create employment, ensure balanced regional growth, and spur economic activities in the rural areas.
Under it, he said the new budget would target to complete the track opening task of Mid-Hills Highway by mid-July 2012. Adhikari also committed to take steps to early implement Kathmandu-Tarai Fast Track Roads and construction of second international airport in Nijgadh under build-own-operate-transfer (BOOT) model.
"The new budget will focus on the implementation of the comprehensive peace accord and also allocate enough fund for the drafting of the new constitution," said FM Adhikari, also promising relief package to the families of martyrs and disappeared people. The new budget will also lay thrust on reconstruction and rehabilitation of infrastructures damaged during the 12-year Maoist conflict.
In a bid to fight undue price rise, syndicate, cartel and other anti-competition elements, Adhikari said the new budget would lay intensive focus on enhancing government´s role as the regulator.
To end energy crisis, FM Adhikari said the new budget would announce special programs for luring more investments into the hydropower sector. "We will gradually reduce import of petroleum products by implementing a new Bio-fuel Policy in the new fiscal year," he stated.
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