NEPAL BUDGET 2081/82
Finance Minister Barshaman Pun presented the budget for the fiscal year 2081/82 at the parliament, totaling Rs. 18.60 trillion. The breakdown allocates Rs. 11.40 trillion (61.31%) for recurrent expenditure management, Rs. 3.52 trillion (18.95%) for capital expenditure, and Rs. 3.67 trillion (19.65%) for financial management initiatives.
Demystifying Nepal’s Budget: A Look Behind the Numbers
Nepal’s budget is more than just figures on a page; it’s a roadmap for the country’s future. Understanding its key highlights empowers you to navigate the economic landscape with confidence. This guide breaks down the budget’s core areas, offering a clear picture of where Nepal is headed.
This year’s budget prioritizes several key areas including:
Economic Growth:
The government estimates a growth rate of 6% for the upcoming fiscal year and aims to achieve this target through initiatives focused on IT development, infrastructure development, and agricultural advancements.
Agriculture:
The budget allocates NPR 57.29 billion to the agriculture sector, with a focus on celebrating 2024-2034 as the Agricultural, Science and Technology Decade. This includes providing subsidies for aromatic rice producers and launching commercial farming of marijuana for medical purposes.
Information Technology:
Establishing Nepal as a hub for IT development is a major priority, with a target of achieving at least $2 million in IT exports within a decade. The budget also facilitates internships in IT-related industries for students enrolled in undergraduate and postgraduate IT programs as part of their academic curriculum.
Infrastructure Development:
A significant portion (allocated budget NPR 50.74 billion) is dedicated to infrastructure development, which translates to projects like roads, bridges, and transportation networks. These advancements will not only improve connectivity but also create jobs and boost trade across the nation.
Energy:
The budget prioritizes integrating more electricity into the national grid, with a goal of reaching a total capacity of 4,500 MW in the upcoming fiscal year. This includes integrating 900 MW of electricity and 100 MW of solar projects developed by the private sector. The government has also made arrangements to begin exporting electricity to Bangladesh from FY 2024-25.