Key Features of Fiscal Year 2075/76 (2018/19) Budget - Nepal
The
budget announced for fiscal year 2075/2076 (2018/2019) has lots of promises
regarding human development indices like health, education, water, employment, etc.
infra-structure, national fund, economical growth, and so like. The budget has
projected a goal of achieving economic growth of nation to 8%. This sounds so
much ambitious with only 365 days on hand. Let’s be hopeful.
The
budget announcement by the finance minister Yuvaraj Khatiwada has been
appropriated to be of 135.5 billion which has been promised to be spent for the
development of provinces and local sectors. The budget announcement can be
summarized by the following points:
Employment
01.
The government has announced the
commencement of ‘prime minister employment program’ and for this, 3 billion
rupees has been appropriated.
02.
Establishment of employment information
centers at each province has been announced, which will be conducting trainings
to produce skillful manpower.
03.
The implementation of the principle of
‘equivalent wages for equivalent task’ has been announced.
04.
The government has decided to grant 5%
concessional Loan up to Rs 7 lakhs backed by academic certificate with a view
of helping a young entrepreneur.
05.
Foreign employment policy is announced to
be made strong by establishing foreign employment offices in each province.
06.
For 5 lakhs Nepalese Employement
opportunities is aimed to be created.
07.
Announcement of provision of loan up to 10
lakhs for those who want to start his/her own business after returned home from
foreign employment.
Health
08.
With a view of making health sector more
reliable, qualitative and cost effective for general people government has
announce nation wise expansion of health insurance.
09.
The ward operation meant for senior
citizens in hospitals to be brought into action.
10.
The continuous availability of medicine in
all the governmental health posts has been announced.
11.
The establishment of medical colleges in
all of the seven provinces has been promised.
12.
For the upliftment of the herbal
medicines, herbal university would be established.
13.
For the preventive measure of epidemic
diseases, it has been promised to form committee of experts.
14.
For health sector development, budget of
56 billion rupees has been appropriated.
Education
15.
In and about 2 years of time, Nepal to be
declared fully literate, meaning there will no person deprived with an ability
to read and write.
16.
The students up to 5th grade of community
school in districts with relatively low living standard to be provided with a
lunch and all the local levels to be provided with the Technical Level of
Education.
17.
Education with accommodation has been
announced to be provided for those who are far away from the school area.
18.
For the extension of technical education,
technical schools are to be established in all local sectors.
19.
Free internet service would be provided to
all the community schools in order to evelop information-communication
education.
20.
The establishment of liberal universities
would be encouraged by the government.
Science and Education
21.
Establishment of Madan Bhandari Academy of
Science and Technology, for the upliftment of scientific invention and
technology has been aimed.
22.
Law related to atomic matters would be
made in order to aware people from the effects of harmful radiation.
23.
The amount of Rs.134 billion has been
allocated in the field of education, Science and Technology.
Youth and Sports
24.
Development of at least one stadium in
each province has been announced.
25.
For the construction of infrastructures for
conducting 18th Asian Games and 13th South Asian Games,
budget of 2 billion has been appropriated.
Female, Children and senior citizen
26.
Female upliftment program of precedent has
been announced to be carried out in large account and the budget of 30 crore
has been appropriated.
27.
In all provinces, a senior citizen aashram
has been announced to be made.
28.
for making dalit caste people involve in
cooperative task, they would be provided loan of up to 10 lakhs with 5%
interest rate.
29.
For the welfare of women and children
budget amount of Rs.1.9 billion has been allocated.
Social safety
30.
Government has promised to increase social
safety allowance for the senior citizen, lonely female, and handicapped.
31.
Government has announced to take
responsibility to pay health insurance up to 1 lakh.
Agriculture
32. Government has taken a goal to double the agricultural production within 5 years.
33. For the modernization in agricultural sector, budget of 5 billion has been appropriated.
34.
For spreading technical education on
agricultural and animals, ‘agricultural knowledge centers’ would be established
in each local sector.
35.
For the risk minimization in the
agriculture insurance, government has announced to pay 75% grant.
36.
In all the seven province the model
agriculture farm to be constructed and all the loan taken by farmer from Sana
Kisan Sahakari to be waived.
37.
The entire land ownership certificate to
be digitized within 2 years of time and all the buying and selling of land and building
to occur only after the approval by government.
38.
Within 2 years, nation safety identity
card will be provided to all the people of 77 districts under the line of
poverty.
Forest and Environment
39.
Extra attention on cleanliness to be given
for Sagarmatha and surrounding mountains.
40.
Increasing Kathmandu air pollution is
addressed as major initiatives will be taken with a view to diminish it.
41.
For the forestry and environment sector
the budget of 16 billion to be allocated.
Industry
42.
Establishment of at least a industrial
area in each province has been aimed.
43.
For the development of infrastructure of
at least 20 industrial grams in each province, budget of 28 crore has been
appropriated
44.
Necessary budget for Iron Mining to be
allocated.
Commerce and Business
45.
The regristration process for business to
get easier than before.
46.
Kathmandu to have a center for exhibition
and sale of handicrafts.
47.
Industry, commerce and supplies gets
budget of 10 arba, likewise industrial products gets up to 5% of subsidy. Also,
fair price shop to be opened at all local bodies.
Tourism
48.
Visit Nepal 2020 to be operationalized,
with an objective of having around 20 lakhs of tourist within 2 years. Atleast
100 places to be identified to promote internal tourism, with a slogan of “Pahile
Desh ani Bidesh” (country before foreign country) and also Tourism
infrastructure development to be more feasible.
49.
Special program related to amplification
of tourists from India and China would be conducted by Nepal tourism board.
50.
Tourism service is aimed to be conducted
all the time over the year.
51.
5 billion budget has been appropriated for
the development of tourism.
Airlines
52.
The construction of Nijgadh, Pokhara, and
Gautam Buddha international airport would be focused on.
53.
The budget of 19 arba allocated for
Airlines sector along with a construction of helipad in all local levels.
Culture
54.
for the conservation of different cultures
under extinction phases, national cultural museums are to be established.
55.
Re-construction of heritages affected by
earthquake is to be emphasized. Ranipokhari and Dharahara to be constructed in
coming 3 years.
Water Supply
56.
Quick accomplishment first stage of
Melamchi water supply plant and starting of second stage is aimed to achieve.
57.
Government has extracted budget of 25
billion for the different drinking water plants in different rivers.
Sanitation
58.
The year 2075/76 (2018-19) to be
celebrated as National Cleanliness Campaign in order to ensure the better
cleanliness for all the Nepalese in coming three years. Similarly, all the
Public places to have smart restroom.
Irrigation
59.
Irrigation facility for all the
appropriate lands would be accomplished within 5 years by completing different
irrigation projects.
60.
Bheri, Babbai, Rani, Jamara irrigation
gets 10 billion Budget allocated.
Energy Development
61.
Starting this year 2075 till 2085, a
decade to be celebrated as the energy decade.
62.
The 3000 MW project to be started from the
investment made by General Public.
63.
The budget of Rs. 84 billion to be
allocated for energy sector and also a regulating body to be formed to regulate
electricity.
Accommodations, buildings, and
Infrastructures
64.
Homeless people and those under the line
of poverty are to be provided up to 50 thousand grants by the government if
they are about to construct of their home.
65.
Slums to be provided with shelters.
66.
The construction of parliament house gets
the budget allocated.
67.
Bagmati Improvement plant would be
emphasized to be conducted in time.
68.
33 billion rupees is allocated for the
building and infrastructure development.
Transportation Infrastructure
69. Road infrastructure connected to southern
border gets the budget of 53 crores likewise 5 billion has been allocated for
roads construction.
70.
Monorail feasibility study to be held on
Kathmandu.
71.
Rs. 3.5 billion budget is allocated for
Terai-madhesh road infra-structure program.
72. For the availability of road construction
equipments as well as tunnel and other complex construction equipments/
machines, organizations would be established in cooperation with private
sectors.
73. Tunnels to be constructed on the 7 following
routes. (Naghdhunga- Naubise, Tokha-Chahare-Gurja Bhanjyang, Khurkot-Chiyabari,
Siddhababa, BP nagar-Khutiya-Dipayal, Thankot-Chitlang, Koteshwor-Jadibuti)
74. Water transportation feasibility will be
studied on Koshi, Karnali, and Gandaki rivers.
75. Transport Management gets a budget
allocated of 1 arba. All the License and transports registration work to be
done from the respective provinces.
76. 100 billion has been allocated for the
transportation development.
Re-construction after Disaster
(earthquake and flood)
77.
The earthquake rehabilitation and reconstruction
to get necessary budget allocated.
78.
151 billion has been allocated for the
reconstruction
Local Infrastructure
79.
Rs. 4 crores have been allocated for each
election area for the development of at most 4 different infrastructures.
80.
Rs. 2 billion has been allocated for the
development of local infrastructure in Terai-Madhesh.
81.
Rs. 3 billion has been allocated for the
construction of suspension bridge in different places.
Information and communication
82.
Optical fiber would be available for all
the local sectors.
83.
Radio Nepal and Nepal Television to be
unified as one body.
84.
Movies and Entertainment sector to have a
Box Office system.
85.
Journalist accident insurance gets
subsidy.
Banking sector
86.
Every Nepali Citizens to have a bank account
within 2075.
87.
All Government service to be digitized
within a year.
88.
The Banker to barrack campaign of Nepal
Army gets continuation.
Investment Amplification
89.
Simplified legal and institutional
processes would be applied for the investors.
90.
International economical assistance would
be extended up to all local levels.
International relation
91.
Level up of E-passport system.
National Security
92.
Distribution of national citizenship card
to all the Nepali people has been aimed by extending program to 15 more
districts.
Tax
93.
Additional 20% tax has been announced to
be applied in taxable income greater than 20 lakhs.
94.
The taxable amount limit during
transaction related to land has been reduced from 30 lakhs to 10 lakhs.
95.
20% discount in income tax of community
hospitals and significant discount in tax related to small industries.
96.
Mobile telephone importer and manufacturer
are freed from VAT refund.
97.
The tax on Education and health service is
also withdrawn.
98.
Private companies converted to public
company with paid-up capital above 50 crore, will be given 10% income tax
discount for 3 years.
 Budget - Nepal){kind=link}
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