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Started 19 hours ago · Updated 9 hours ago

FNCCI President Anjan Shrestha Urges Production-Led Economy and Tax Stability for FY 2083/84 Budget

Photo · www.fiscalnepal.com

Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Anjan Shrestha has urged the government to prioritize a production-led economic model and tax stability in the upcoming fiscal year 2083/84 budget. Shrestha emphasized that Nepal must shift from remittance and import dependency towards manufacturing, exports, and entrepreneurship to ensure sustainable prosperity, especially with the nation's impending graduation from Least Developed Country (LDC) status.

  • FNCCI President Shrestha highlighted that industries are currently operating at only around 40 percent of their capacity, with the manufacturing sector facing significant challenges.
  • He called for policies that promote domestic production and local consumption, advocating for a "Swadeshi" approach to strengthen Nepal's industrial base and reduce external dependency.
  • The recommendations were submitted to the government ahead of the national budget announcement, framing the budget as a historically significant economic roadmap.
  • Shrestha noted the budget comes at a critical time, coinciding with the formation of a new government, declining private sector confidence, and Nepal's upcoming LDC graduation in November 2026.

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