Tag Archives: budget

Maoist New Nepal: Industrial Capitalism Covered by Socialism

By Bishnu Pathak and Neil Horning

The reactions to the budget from the nation’s policymakers and critics are often guided by four motives. Those who made the budget in the past regard it as imbalanced and untenable and heap praise on their own budget. Others who suffered defeat in the CA polls from the Maoists are scared of the perpetual marginalization that stares them in the face and wish to see their Maoist rivals failing and faltering on all fronts and to stand thus vindicated. Another group of intellectuals, those affiliated to political parties other than the Maoist, appear inordinately critical in expounding their techno-statistical expertise on the budget and dub it as overtly ambitious and populist. The Maoists and the intellectual professionals close to them, however, claim the budget as a historical document, regarding it to be achievable, pro-poor, and growth-oriented, and blame their critics as feudal-minded. The donors, in general, remain neutral, at present, and the people are waiting for the budget to deliver in the field. For, that is where its ultimate test will lie. Continue reading Maoist New Nepal: Industrial Capitalism Covered by Socialism

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The Maoist Budget of Rs 236 Billion: Bold but Not Beautiful

In their first ever budget speech, the Maoists promise to build the infrastructures and propel the economic growth that they mercilessly destroyed and pushed back in the name of revolution during the decade-long insurgency

By Prem Khanal
the Kathmandu Post

The first fiscal-year budget of the Democratic Republic of Nepal unveiled yesterday by the Maoists-led government was extraordinarily ambitious both in mobilization of resources and in expenditures.

The budget for fiscal year 2008/09, which vows to start building a solid platform for putting the economy onto a double-digit growth track in two years, proposes to spend Rs 236 billion – almost Rs 647 million per day. However, experts say that the budget, which plans to raise expenditure by 45 percent in a single year, lacks concrete plans for improving the poor capacity for implementation of development projects, a key factor in the low absorption of allocated budgetary amounts. Continue reading The Maoist Budget of Rs 236 Billion: Bold but Not Beautiful