Nepal budget 2078/79: Things you should know.

On Jestha 15, Finance Minister Bishnu Prasad Poudel presented the budget for the coming Fiscal Year 2078/79. For this Nepal budget 2078/79, the total allocated budget is Rs. 1,647.57 billion.

The government has presented a budget of Rs. 172.93 billion more than the current fiscal year.

Allocated budgets to different Ministry for the fiscal year 2078/79

– Office of the Prime Minister: 4 Arba 17 Crore 87 Lakh

– Ministry of Finance: 46 Arba 85 Crore 75 Lakh

– Ministry of Industry, Commerce and Supplies: 13 Arba 57 Crore 82 Lakh 

– Ministry of Energy, Water, Resources and Irrigation: 1 Kharba 21 Arba 97 Crore 81 Lakh 

– Ministry of Law, Justice and Parliamentary Affairs: 51 Crore 56 Lakh 

– Ministry of Agriculture and Livestock Development: 45 Arba 09 Crore 89 Lakh 

– Ministry of Water Supply: 43 Arba 54 Crore 24 Lakh 

– Ministry of Home Affairs: 1 Kharba 66 Arba 90 Crore 35 Lakh 

– Ministry of Culture, Tourism and Civil Aviation: 27 Arba 46 Crore 92 Lakh 

– Ministry of Foreign Affairs: 7 Arba 13 Crore 5 Lakh 

– Ministry of Forest and Environment: 14 Arba 13 Crore 18 Lakh 

– Ministry of Land Management, Cooperatives, and Poverty Alleviation: 8 Arba 21 Crore 29 Lakh 

– Physical Infrastructure and Transport Ministry: 1 Kharba 67 Arba 18 Crore 94 Lakh 

– Ministry of Women, Children, and Senior Citizen: 1 Arba 20 Crore 5 Lakh 

– Ministry of Youth and Sports: 2 Arba 74 Crore 68 Lakh 

– Ministry of Defence: 51 Arba 4 Crore 40 Lakh 

– Ministry of Urban Development: 41 Arba 20 Crore 25 Lakh 

– Ministry of Education, Science, and Technology: 1 Kharba 80 Arba 4 Crore 11 Lakh 

– Ministry of Communications and Information Technology: 7 Arba 73 Crore 85 Lakh 

– Ministry of Federal Affairs and General Administration: 30 Arba 83 Crore 25 Lakh 

– Ministry of Health and Population: 1 Kharba 22 Arba 78 Crore 99 Lakh 

– Ministry of Labour, Employment and Social Security: 14 Arba 46 Lakh

Major takeaways on Nepal budget 2078/79

1. Concession will be given in electricity tariff during the period of prohibition (निषेधाज्ञा).

2. Old age allowance reached 4,000 per month which was 3,000 earlier. Also, all social security allowances increased by 33 percent.

3. 26.75 billion is allocated for vaccine procurement. 

4. 50 percent subsidy will be given to the oxygen production company. 

5. Loans will be provided to young entrepreneurs at 1 percent interest.

6. Students above the age of 16 will be provided free SIM cards and Rs 80,000 loans to buy a laptop.

7. Government employees will be given 10 days of travel leave. 

8. 1.20 billion is allocated for the protection of women and girls. 

9. 12 billion allocations for the Prime Minister’s Employment Program. 

10. Universal program with the poor, the Poverty Alleviation Fund abolished.

11. 12 billion allocated for construction of chemical fertilizer factory in 3 years. 

12. Sustainable forest management will be conducted.

13. 840 million for payment to sugarcane farmers within 15 days. 

14. To become self-sufficient in milk and vegetables within 2 years. To become self-sufficient in wheat and in paddy within 5 years. 

15. 45.09 billion for agriculture and animal husbandry development. 

16. Encourage collective farming in forest areas, encourage the planting of trees on private land, planting fruit trees along roadsides. 

17. Zoo will be established in all the states. 

18. Concession will be given if the vehicle running on petrol is converted into an electric vehicle.

19. From next July, the production and sale of plastic bags thinner than 40 microns will not be allowed. 

20. International Exhibition Center will be established in Kathmandu. 

21. Plans to replace petroleum vehicles with electric vehicles by 2088.

22. 28.27 billion budget allocation in the tourism sector, which is 1.35 billion more than the current Fiscal Year.

23. Loan up to Rs. 2.5 million can be obtained by pledging an educational certificate.

24. 20 percent discount on gas and food purchases from Salt Trading and from food companies.

25. Monthly salary of government staffs up by Rs 2,000.

Do you think this year’s Nepal Budget 2078/79 will be implemented?

Here is the official release.

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