Kathmandu. The new government led by Balen Shah has unveiled its policies and programmes for the fiscal year 2083/84. The priorities of the budget have also been made public. The budget is in the process of being prepared at a rapid pace. Discussions and suggestions are also being sent in various circles regarding the budget.

Various organizations, organizations, classes, factions, communities have their own arguments, expectations and demands regarding what the upcoming budget should be. Overall, the budget should satisfy everyone’s hopes and expectations. That is, the budget should be able to do justice to the general public.

The budget is also the biggest tool of the government. The budget also affects the daily lives of 30 million Nepalis from the rice kitchen to the daily life. The budget should be responsible for fulfilling the dreams of the people. Therefore, the budget is a very important program of the country. As a result, there is a need for intense debate and discussion on the budget.

What the task force to prepare the budget sees, what the government officials, ministers and MPs see. People’s pains, pains, or needs may be different from that. Suggestions, arguments, facts and discussions coming from a wider angle are important to understand the needs, pains and problems of the people from the most accessible to the remote. The budget should be prepared by addressing the suggestions coming from all these angles.

However, our learned Finance Minister Dr. Swarnim Wagle has said that the budget to be brought by the RSP-led government this time will be transformative. He said that the budget will break the trend of the past. For what kind of budget Wagle has projected, we have to wait for the coming May 15. But the objective situation in the country is not as transformative as he claimed. Because the country’s source of revenue is very weak. After the Genji movement, the business environment has deteriorated even more. Businessmen are also terrified after the new Balen Shah-led government started cracking down on businessmen in various investigations. The factories are also operating at only half the capacity. The source of revenue has shrunk compared to the previous fiscal year.

Last year, the revenue was a little over Rs 1200 billion, out of which the government was allocated Rs 1180.65 billion. In this way, the government’s income is not able to meet the current expenditure. Nepal has to allocate 65 percent of the total budget towards current expenditure. Public debt has reached Rs 2,933.79 billion in the third quarter of the current fiscal year. The government has to allocate more money for finance management (the amount set aside for paying the principal interest on the loan) than the development budget.

Although the development budget is allocated around Rs 300 billion, 60-65 percent of the budget will not be spent as the contract leasing works do not progress by the end of the fiscal year. That is, the government cannot spend even Rs 2 trillion annually on the development budget. That kind of situation exists. In the midst of such a fragile situation of the country’s income and expenditure, it is nothing but talk that the government will bring a transformational budget that will be completely rejuvenated. Because the programs with the budget of the past are not bad. The budget has always been sweet and sweet. But its implementation has always been difficult. This reality is understood by the general public. In such a situation, people will not believe the words of complete rejuvenation.

The main thing is that the new government is not creating a business environment from the beginning. Instead of listening to the wrongdoers, they have to be washed at once and released on bail by the court. Basically, in the name of cleaning the garbage of yesterday, the business environment should not be destroyed and the situation of employment should be destroyed. A businessman should not be considered as an ordinary person in a way. The thousands of jobs it creates in the society are used to run the kitchen stove of millions. Therefore, the business environment is the main gateway to prosperity. The government should make the budget in such a way that it creates business environment and encourages the share investors.

Unemployment is the main problem of contemporary Nepal. That’s also educational unemployment. Yes, the budget should be made based on that root. In the infrastructure sector, a lot of work has been done in Nepal in the past. Not only work, but there was also a lot of corruption, due to which the current situation in Nepal has come.

Entrepreneurship and employment are the key to building a prosperous Nepal. No matter how much infrastructure is developed, if there is no employment, if entrepreneurship does not flourish, there will be disappointment among the people. Therefore, this year’s budget should be brought with the main priority to solve the problem of unemployment and to promote entrepreneurship. The government has been giving priority to 27 national pride projects. More than that, the country’s first priority should be job creation. It should be about promoting entrepreneurship. If not, the Genji movement will continue to take place. The country will have to bear the burden of destruction. People’s wars will be repeated. Socially, economic inequality will remain high.

But if we can think about employing the youth, youth or working manpower in the country, making them entrepreneurial entrepreneurs, then it will slow down all the causes of inequality, rebellion or destruction. Jobs and opportunities will improve themselves. Currently, 90 lakh Nepalis are out of the country. The reason for this is the result of many previous governments not paying attention to job creation. Being unemployed or poor is equivalent to hell in today’s modern, competitive age. The government should not ignore the youth and force them to live a hell-like life forever. The door of a foreigner should not be made a gatekeeper. This should be the difference between the past and the present budget. We need to think about creating more jobs and entrepreneurship.

Even if there is unemployment, there is a possibility that people will get involved in anarchic activities. After working, people will focus on their duty. Therefore, in the upcoming budget, it is necessary to allocate a large amount of funds in the budget to create a business environment, to provide comprehensive skills, seed capital and training to the youth to become entrepreneurs. In recent years, the government has not been able to provide new jobs to 3,000-4,000 people annually. The private sector accounts for 85 percent of GDP, but the government has not been able to create jobs for the private sector.

In Nepal, where about 5 lakh new youths come in the labor market annually in recent years, the priority of the budget is always on the other side. After that, the youths are forced to graze the courtyards of foreigners. Yes, it is a different matter if you want to bring a similar budget and call it transformational. Otherwise, without talking big, this time the budget should focus on solving the problem of youth and unemployment in view of the terrible unemployment situation in the country.

Gautam is an economic writer and analyst. )