Kathmandu. President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Anjan Shrestha, has said that the budget for the coming fiscal year presented by the government is positive overall.

According to him, the budget seems to have addressed the suggestions of the private sector to some extent. Stating that efforts have been made to reform the tax policy, he said that the provision of reducing excise duty and limiting customs duty on 273 goods to one level was positive.

Similarly, the tax ambit for the middle class has been expanded to Rs 10 lakh, and a 10 percent discount on digital payments will help to increase economic activity.

Similarly, the government has decided to provide 10 percent subsidy to the entrepreneurs involved in agriculture and livestock business up to Rs 20 million in two years. It is expected to increase production-oriented investment by curbing the misuse of subsidies.

Similarly, the provision of the government paying 80 per cent premium on agriculture insurance is positive, he said. He said that significant programs have also been included in the infrastructure sector and this will help attract investment.