Deuba-led government can change current picture of economy: Binod Chaudhary

 Deuba-led government can change current picture of economy: Binod Chaudhary

A few days ago, a government was established under the leadership of the President of Nepal’s National Assembly Shera Bahadur Deuba. After the Nepalese government passed the financial aid policy approved by the BS in 2048 in the National Assembly, the Nepalese economy remained vigorous despite the termination of permits and comments. 

 Although the government changes almost every year, Nepal's economy is developing in this sense, just like the political changes in the mid-1930s, although unfortunately, some numbers predicted by the Nepal Industry Association do not seem to be the case.

Meanwhile, the state had to face an armed war. Apart from that, various calamities and crises taking place in the country still exist. With almost all the major parties present, the government must push for second-generation reform. Second Generation Reforms will solve the economic problems that have been lingering for many years. Whether they are diplomatic or economic issues.

Prime Minister Deuba has already said in Parliament, "The first, second and third priority of the government is to provide free vaccines to every Nepali." If we look at the situation so far, we need 50 million doses of vaccine. Out of which, only 15 million doses of vaccine can be imported. So far, 6.8 million doses of vaccine have been imported.

There is a huge and complex competition for vaccines between countries like China, India and the United States. We hope that the government formed under the leadership of Deuba will provide vaccination to every Nepali by the end of this year.

In 2048 BS, we started six such new sectors, one of which is contributing 35 percent to the economy, that sector is services. If that process can be continued, the picture of the economy could change. Once again, the state's priority is to make Nepal one of the most lucrative investment destinations in South Asia. Because, the presence of a democratic government promotes the 'Phil Good Factor'. Emphasis should be placed on the establishment of large scale industries in the country by attracting foreign investors.

Along with the Prime Minister, there is a Ministry of Finance headed by Finance Minister Janardan Sharma. Sharma has established himself as a successful leader by ending 18 hours of load shedding in the country. Now Sharma has the power to take the economy to the next level by leading the finance ministry.

The country is currently battling an epidemic of corona virus (Covid-19). The world economy has collapsed due to the Corona epidemic. This is a big challenge for the government to make the country's economy dynamic.

While trying to get out of the second wave, the discussion of the third wave has started and people's lives are more scared. The third wave is not only going to make people's lives more difficult, it is certain that the economy will collapse further. However, the recently developed vaccine against corona has brought new impetus to human life.

In a complex situation where the country is struggling with the Corona virus, the responsibility of taking the reins of the economy has fallen on the shoulders of Prime Minister Deuba. The government should take this as an opportunity to create a covid-free environment for all Nepalis.

After the restoration of democracy in Bikram Samvat 2046 BS, the Congress, which had been in power for a long time, had adopted a liberal economy. The Nepali Congress-led government, keeping in view the global environment and the economic situation in the country, brought forward open economy and liberal economic policy as the basic policy of economic development.

Emphasizing the role of the private sector, policy and administrative reform programs were also introduced and promoted as first generation reform programs. This not only significantly increased the income of the nation but also enabled the state to increase investment in the social sector.

As a result of the Nepali Congress-led government's review of public spending and investment in education, health and rural development, Nepal has been able to make rapid progress in the social sector, achieving most of the goals of poverty alleviation as well as the Millennium Development Goals. With the end of the armed conflict and the signing of the peace agreement, economic activity has resumed in a positive manner, and the corona virus has once again shrunk the economy.

In this difficult time, the Nepali Congress has again got the opportunity to lead the government. It has lit a lamp of hope for the common Nepali people as well as the general industrialists and businessmen. Just as the policies and measures taken in 2046 helped to accelerate economic activity, there is a need to move forward with policies and regulations to revive the economy, which has been hit hard by the corona virus.

Nepal can bring 5 million tourists annually from China and India alone. The rest of the work is done by the private sector with the government making the necessary preconditions and putting forward the action plan. As this can create ample employment in the country, it can also prevent the return of Nepalis living abroad and those who leave Nepal.

The government should give full responsibility to the private sector. The private sector is ready to mobilize the necessary approach and investment on its own. Hopefully, the current government will create an investment climate that incorporates the sentiments of the private sector.