KATHMANDU: Lawmaker Amresh Kumar Singh has strongly criticized the government’s budget for the upcoming fiscal year, raising concerns over structural weaknesses, economic imbalances and the country’s development priorities.
Speaking during discussions on the annual budget in the House of Representatives on Thursday, Singh acknowledged a few positive measures, including the increase in the personal income tax threshold and provisions supporting startups and the information technology sector. However, he argued that the overall budget had failed to inspire confidence among a large section of the population.
Singh said the rise in bank deposits was not a sign of economic strength but rather reflected sluggish lending and a weak business environment.
“There is an atmosphere of fear in the country,” he said, arguing that while fear may be used to govern, it cannot drive economic development.
Referring to education and healthcare as fundamental rights guaranteed by the Constitution, Singh criticized the government’s decision to impose taxes on private schools and hospitals. He argued that strengthening public education and healthcare systems should be the priority before introducing additional tax burdens on private institutions.
The lawmaker also accused the government of neglecting rural communities, farmers and the productive sectors of the economy. He highlighted the challenges faced by farmers, who often receive low prices for their produce while consumers pay significantly higher prices in the market.
Singh further said the budget lacked a clear strategy to address youth unemployment and the employment challenges that could arise from the rapid advancement of artificial intelligence (AI) and information technology.
He expressed concern over Nepal’s growing dependence on remittance income rather than domestic production, accusing the government of failing to adequately address the trade deficit, inflation and the increasing amount of uncultivated agricultural land.
The MP also warned about the rising burden of domestic debt, noting that a significant portion of new borrowing is being used to repay existing loans, leaving limited resources for development spending.
“A debt-driven economy cannot be sustainable in the long run,” Singh said.
Concluding his remarks, Singh argued that the budget would be unable to deliver the economic transformation promised by the government, claiming that many of the shortcomings seen in previous budgets remain unresolved.
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