By P.R. Pradhan

For the past one and a half decades, the country’s budget has been heavily dependent on the deficit. When the country’s revenue sources don’t meet the expenditure sector, the government will present a deficit budget. To some extent, a deficit budget is necessary for Nepal like developing countries. Such deficit amount will be covered by grants received from friendly nations and also loans from other countries and international financial institutions and used for infrastructural development. Taking loans to pay back instalments with interest and also taking loans for general sector expenditure reflect serious problems in the economy.

Finance Minister Bishnu Paudel recently disclosed that the country’s revenue is not sufficient to meet the expenditure sector. He was urging for reducing expenditure, but how, he didn’t speak.

While writing the budget, the government is needed to allot a large percent of fund for social security responsibilities, pensions, salaries and allowances. This amount is increasing year by year.

When the deficit amount is on the rise, the government is compelled to widen the taxation net. Already, increasing taxation imposed by the government has created tax havoc. Recently, former minister and chair of the Aam Janata Party, Prabhu Shah, remarked that the increasing taxation on the people has contributed to the collapse of the economy. The government is unable to find an alternative to such taxation havoc, Shah said. He said that to end such a taxation havoc, the present system should be abandoned. The government collects excessive tax but it gives no relief or facilities to the taxpayers, Shah opined. The political leaders in the government are exploiting the government treasury and imposing a debt burden on the citizens, therefore, there left no other alternatives except to throw away the present people in the government, Shah expressed his anger.

Shah, a committed Maoist leader, who fought the “people’s war” quit the mother party and launched the Aam Janata Party. When the very leaders are saying that the economy is on the verge of collapse and the present system cannot give an outlet to the nation, we must think about it seriously.

Unfortunately, those political leaders, who are enjoying the power and expressing their happiness while sharing power through a Bhagbanda, instead of thinking about strengthening the nation’s economy. They are trying to develop a front claiming that there is no alternative to the present “looktantra”, which we believe is a “loot-tantra”. Due to the political leaders’ attitude of exploiting the government coffer, those in the government and also in the opposition parties are unable to walk in the street without heavy security, on the other hand, the deposed King is travelling everywhere freely. Wherever the King is visiting, we see a human sea urging the deposed King to make a comeback to save the nation. Meanwhile, slogans against the political leaders have become very common.

The political leaders, namely, Prime Minister K.P. Sharma Oli, NC President Sher Bahadur Deuba and Maoist Center Pushpakamal Dahal, among others, should try to understand the public mood timely, otherwise, anytime, the situation may become worse. What had happened in Sri Lanka and Bangladesh, was lessons that to be taken by the leaders instead of insulting the very mass alerting the present rulers.

Until now, the situation has not gone out of control. The major political parties should try to respond to the voices from the streets and become ready to ink a new agreement among the political actors by activating the 1990 constitution giving space to all the political forces. Furthermore, a self-correction is needed among the political leaders who are enjoying power turn by turn. They should end the Bhagbanda politics in all organs; a strong corruption control agency should be introduced; good governance should be practised; the process of politicization in all sectors should be ended and also meritocracy should be introduced by ending nepotism and favoritism.