Budget Watch : Local markets, IT sector potential growth areas

Budget is the normal process of executing plans and policies of the government. It is a medium that decides the priority of the plans to be executed. It will address everything and move to that which has more priority. However, in the present context, more than the budget it is the political state of the country that is more important. Economic agenda must be taken forward in a long term prospective. And we need think beyond the budget also.

The essential thing is to boost the morale and confidence of the business community. If there is no confidence, no attempt will be successful. The economic sector should focus on how to make a long-term strategy to improve the present economic condition. We should be concerned about all the plans that have to be made.

In Nepal, be it hydropower sector, tourism, or floriculture (agriculture) — every sector is doing well. Even the small and the medium enterprises (SMEs), which work locally, should have a local market. Nepal has a population of about 25 million and I think it is a sizeable one. We can promote local markets easily in our country. Today's generation is mainly interested in information technology (IT) education, which we can compare to the future growth of the young generation in the IT sector. Therefore this sector too needs to be developed. But the main problem our state has is politics. So, first the political condition of the state should be de-politicised because politics has its impact on each and every sector of the state. The government has to play the role of facilitator rather than trying to do things on its own.

The manpower that we are sending abroad right now is unskilled. Thus, private sector should be encouraged to impart vocational training and generate required skilled manpower which will send home more remittance. With the right policy, the private sector can be encouraged in this regard. Education sector holds great importance cause educated society is good for long-term social development. There must be consistency in policy for this sector.
Source: THT