Virginia: Budget And Economic Development
Dr Surendra Bhakta Pradhanang
September 10, 2008
Today the U.S.economy slowing down held several issues and constraints to balancing the annual budget. The U.S.is a big economic force experienced in monetary economics and global economy. Generally speaking, the U.S.A. can not be weakened in its political economy because of its strong foundation in terms of national politics and economy.
But we are having the budget cutting pain in the U.S.economy. For example, Virginia is the state, cutting budget as pain to the economy. The state government ought to have a new vision for economic development, however. The budget is a new economic document penned in a good thought composition and mind of politicians and economists
The budget is not the statement of public expenditure and revenue either nor cutting expenses for adjustment of balance – Balance Sheet. It is a special creation of new plan and strategy for national development. The public expenditure pattern or public welfare expenditure is the objective of the budget and budget preparation.
Governor Tim Kaine warned of cutting budget of about $ 1 billion shortfall. It will generally affect to social service and education programs. The economy of Virginia is going down more than expection.Due to the shortfall in tax revenue collection; the annual budget has come to estimate about $ 77 billion. Kaine administration could not have finished the projection of the new cutting budget in real term. Since the spending cuts in program budget is not an easy task when the budget has already adjusted with action in the public.
Repeatedly, cutting budget in the annual budget allocation program will lead a negative impact to the public and exhibit inefficiency in the work plan in the state economy and its economic development and planning.
The input from industry and commerce experts, economic advisors, tourism experts and legislators who are important in revenue collection, economic development planning and forecasting procedure is practically needed for a right decision making.
It is generally experienced that the weak growth in state sales and revenue collections in the second quarter points out the negative economic indicator. The other states including 20 states illustrated are in the similar problem to meet the revenue target.
The transportation revenue will also be low due to downturn in gasoline tax and vehicle sales tax collections.
The upcoming budget developer has to think over the present and future economic viability and tourism development potential from the new angle of vision in Virginia with reference to the globalization and global economy. We urge to go ahead in preparation of budget.
´Think globally and plan locally´ is a good thought for economic planning for Virginia. The budget has to initiate to invest in transportation facility, quality education, preference to foreign economic and tourism expertise and expert and new energy episode. We feel the transportation route and road development in the Virginia from the standpoint of economic development.
The people of Virginia are loosing their economic opportunities because of not developing proper transportation infrastructure in terms of comparative advantages. Hence, we need daily public service bus and train scheduled as convenience to the people in whole Virginia to expand economic activities as far as possible on the one hand and to increase tax revenue collections on the other.
The educated professionals either from nation or from foreign land have to accommodate through good employment opportunities to develop Virginia and the United States as a whole. We are unlikely talking about the dark side of economy of Virginia. But it is always to be more optimistic and positive in our action plan and economic development thought dreaming prosperity and brightness upcoming to focus every budget.
Basically, the bright side of budget planning and estimation can be explained and polished by Nepal´s Village Tourism development thought propounded by Dr.Pradhanang, Father of Village Tourism of Nepal., which can be a means of increasing national productivity.
Tourism industry in Virginia has to be seriously realized as an important industry for economic development and promotion of economy by the state government, intellectuals, entrepreneurs and people. The state government of Virginia has to start tourism education especially village tourism. The birth place of George Washington is necessary to be promoted as international tourism center for visitor´s attraction. The parks recreation associated to tourism industry is as a need for educational agenda to young and energetic people and students.
The research study shows that tourism industry in Virginia has to get forward by providing amusement park programs and village tourism program to students in every summer along with their family trips. In fact, students visiting amusement parks are more than natural resources that tourism industry can exploit them into cash.
The rising price level of oil is the the serious problem as well as major cause to downturn the national economy. Hence, it is better to follow ´The Theory of Common Factor Denotation´ newly researched and propounded by Dr.Pradhanang for sustainable economic growth and development.
We hope Virginia better after better and greater after greater in the map of the U.S.A.
But we are having the budget cutting pain in the U.S.economy. For example, Virginia is the state, cutting budget as pain to the economy. The state government ought to have a new vision for economic development, however. The budget is a new economic document penned in a good thought composition and mind of politicians and economists
The budget is not the statement of public expenditure and revenue either nor cutting expenses for adjustment of balance – Balance Sheet. It is a special creation of new plan and strategy for national development. The public expenditure pattern or public welfare expenditure is the objective of the budget and budget preparation.
Governor Tim Kaine warned of cutting budget of about $ 1 billion shortfall. It will generally affect to social service and education programs. The economy of Virginia is going down more than expection.Due to the shortfall in tax revenue collection; the annual budget has come to estimate about $ 77 billion. Kaine administration could not have finished the projection of the new cutting budget in real term. Since the spending cuts in program budget is not an easy task when the budget has already adjusted with action in the public.
Repeatedly, cutting budget in the annual budget allocation program will lead a negative impact to the public and exhibit inefficiency in the work plan in the state economy and its economic development and planning.
The input from industry and commerce experts, economic advisors, tourism experts and legislators who are important in revenue collection, economic development planning and forecasting procedure is practically needed for a right decision making.
It is generally experienced that the weak growth in state sales and revenue collections in the second quarter points out the negative economic indicator. The other states including 20 states illustrated are in the similar problem to meet the revenue target.
The transportation revenue will also be low due to downturn in gasoline tax and vehicle sales tax collections.
The upcoming budget developer has to think over the present and future economic viability and tourism development potential from the new angle of vision in Virginia with reference to the globalization and global economy. We urge to go ahead in preparation of budget.
´Think globally and plan locally´ is a good thought for economic planning for Virginia. The budget has to initiate to invest in transportation facility, quality education, preference to foreign economic and tourism expertise and expert and new energy episode. We feel the transportation route and road development in the Virginia from the standpoint of economic development.
The people of Virginia are loosing their economic opportunities because of not developing proper transportation infrastructure in terms of comparative advantages. Hence, we need daily public service bus and train scheduled as convenience to the people in whole Virginia to expand economic activities as far as possible on the one hand and to increase tax revenue collections on the other.
The educated professionals either from nation or from foreign land have to accommodate through good employment opportunities to develop Virginia and the United States as a whole. We are unlikely talking about the dark side of economy of Virginia. But it is always to be more optimistic and positive in our action plan and economic development thought dreaming prosperity and brightness upcoming to focus every budget.
Basically, the bright side of budget planning and estimation can be explained and polished by Nepal´s Village Tourism development thought propounded by Dr.Pradhanang, Father of Village Tourism of Nepal., which can be a means of increasing national productivity.
Tourism industry in Virginia has to be seriously realized as an important industry for economic development and promotion of economy by the state government, intellectuals, entrepreneurs and people. The state government of Virginia has to start tourism education especially village tourism. The birth place of George Washington is necessary to be promoted as international tourism center for visitor´s attraction. The parks recreation associated to tourism industry is as a need for educational agenda to young and energetic people and students.
The research study shows that tourism industry in Virginia has to get forward by providing amusement park programs and village tourism program to students in every summer along with their family trips. In fact, students visiting amusement parks are more than natural resources that tourism industry can exploit them into cash.
The rising price level of oil is the the serious problem as well as major cause to downturn the national economy. Hence, it is better to follow ´The Theory of Common Factor Denotation´ newly researched and propounded by Dr.Pradhanang for sustainable economic growth and development.
We hope Virginia better after better and greater after greater in the map of the U.S.A.
Print
Email
