Federation of Nepal Cottage and Small Industries (FNCSI) has presented dissatisfaction over the budget presented by the government stating that it had remained silent about the development and promotion of small industries, the backbone of the economy.
While thanking the Finance Minister for announcing the budget for the financial year 2081/82 by encouraging domestic production by using the original Nepali goods – Allo and Dhaka bags, the Federation has expressed its sadness that the budget has remained silent for the development and promotion of the small industries as a whole.
Although priority has been given in the budget to the development of agriculture, education, energy and tourism sectors and the improvement of the financial sector, the budget remains silent on what provisions have been adopted for the development and promotion of the industrial sector, especially the micro, cottage and small industries that are the economic carriers of the country.
President of FNCSI Umesh Prasad Singh said that as the budget was silent about the subsidised loans and refinance given by the government in the past, in order to continue this, it should be arranged through the upcoming monetary policy.
The suggestions made by the FNCSI for the establishment of an international level export house for market promotion of domestic products produced by micro, cottage, small and women entrepreneurs across the country is not included in the budget, it said.
However, the FNCSI has welcomed the idea of conducting a partnership programme for production and employment in order to link production with employment to increase import substitution and export in partnership with the federal, province, and local levels and cooperatives, including the private sector.
The FNCSI said that the concept of developing an ecosystem for startups and innovation, forming a start-up board and establishing a business incubation centre in each province to increase youth participation in enterprises was positive.
Similarly, construction of an international level exhibition centre in Chobhar for the promotion of products produced by women entrepreneurs, skill development through workplace-based apprenticeship programme and timely amendment of the Industrial Business Acts were positive aspects of the budget, according to the FNCSI.
The Federation has welcomed the various arrangements made to make Nepal a hub of information technology, identification of new destinations and development and promotion of existing destinations to bring in 1.6 million tourists in the next fiscal year.
