Major programs introduced by the government through the new budget
- Additional 100,000 elderly citizens will be provided government subsidized health insurance in the new fiscal year. This year 100,000 have been insured
- All types of social security allowances that the government has been providing have been given continuity
- The rule to restrict foreign workers in Nepal will be strongly enforced to create employment opportunities for locals.
- Rs 1 billion allocated for skill development and training programs for those who have lost their jobs or employment.
- Unemployed, migrant worker returnees and other jobless persons will be mobilized for development works. Rs 11.6 billion allocated for this employment support program.
- Rs 500 million allocated for providing equity in startups at two percent interest rate.
- 50 percent subsidy on covid19 insurance for family.
- Rs 100 billion of refinance fund through the central bank for businesses and industries.
- 50 percent demand tariff for industries during off hours
- Five percent interest loans for SMEs hit by the pandemic. An Rs 50 billion fund has been created for the scheme where donor agencies can contribute money.
- The relief program that has already been introduced will be given continuity until the containment measures are in place.
- Rs 90.69 billion allocation for health ministry.
- Rs 36.35 billion as conditional grant for provincial governments and Rs 161.4 billion has been allocated for the local governments.
- Rs 55.19 billion as fiscal equalization grant for provincial governments and Rs 90.5 billion for local governments has been allocated.
- 40 percent of the population will be brought under health insurance coverage. Rs 7.50 billion allocated for the health insurance scheme.
- Rs 14.27 billion allocation for one 5-15 bed hospital in each local unit.
- 50-bed communicable disease hospital in Kathmandu will be established.
- Rs 6 billion allocated for the expansion of tests, establishing quarantine facilities and other services for COVID-19.
- Four types of federalism grants given continuity although it is estimated that the revenue mobilization is going to shrink.
- ‘Day school meal program’ that is currently implemented in 43 districts will be expanded to all districts to retain children in school and lower the dropout rate. The budget has allocated Rs 7.52 billion for this program
- Rs 500 million allocated to make sure that there is at least one agri-technician in each local unit.
- Chemical fertilizers subsidy budget raised to Rs 11 billion.
- One local unit, one production pocket area as agriculture program; Rs 3.22 billion allocated for this program.
- Agriculture is the backbone of the economy of the country; commercialization and mechanization of agriculture will be the priority; targeted programs to become self-reliant on meat and dairy products
The budget has four main objectives:
1. Health service expansion
2. Reviving the supply chain disrupted by the pandemic
3. Construction of ongoing projects and
4. Implementation of federalism and good governance, among others
Read the budget here