Nepal’s Finance Minister Barsha Man Pun unveiled the government’s budget for the fiscal year 2024/25, outlining several key initiatives:
Social Security Expansion:
- Health insurance will be integrated with the social security scheme, extending coverage to more workers.
- More informal sector workers will be brought into the government-run social security fund.
Boost for Women and Children:
- The Ministry of Women, Children, and Social Welfare received an allocation of Rs 8.10 billion.
- Rs 8.39 billion has been set aside to provide daily meals for school children up to grade 5.
- An additional Rs 870 million has been earmarked for the President Education Program.
Infrastructure and Media:
- A budget of Rs 3.77 billion has been allocated for the Civil Aviation Authority of Nepal (CAAN).
- Hydropower projects will be built with investments from Nepalis working abroad.
- The government will adopt a one-door policy for government advertisements placed in media houses.
Tech and Innovation:
- A Rs 1 billion Nepal Start-up Fund has been established to promote startup culture.
- The government will create a dedicated web portal to support women-based enterprises.
Education and Technology:
- The Ministry of Communications and Information Technology received an allocation of Rs 7.35 billion.
- The government will develop a regulatory framework to govern social media use.
Agriculture Focus:
- Rs 36.81 billion has been allocated for irrigation projects in the next fiscal year.
- This investment aims to expand irrigation services to over 15,571 hectares of land.
These measures highlight the government’s focus on social welfare, infrastructure development, and promoting entrepreneurship in Nepal.
