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Nepal Budget Unveils Social Security, Startup Fund, Media Reforms

May 28, 2024
Nepal Budget Unveils
Nepal #Budget 2081/82
Budget Presentation is ongoing..

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:

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  • 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.

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