3.8 million Nepalis receive social security allowance

Published On: May 27, 2024 09:13 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, May 27: The number of Nepalis receiving social security allowances has been rising steadily.

According to the Economic Survey for the fiscal year 2024/25 presented by Finance Minister Barsha Man Pun, the number of citizens benefiting from social security allowances has increased by 5.5 percent over the past year. By February 2024, the total reached 3.8 million, up from 3.7 million the previous year.

Of these recipients, 1.62 million are senior citizens over the age of 70. Additionally, the social security program includes 158,261 Dalits over 60 years, 198,270 single female senior citizens over 60 years, 576,553 single women, 66,452 persons with complete disabilities, 142,185 persons with severe disabilities, and 761,093 children from designated areas.

The state's expenditure on social security benefits has been increasing annually. In the current fiscal year, the federal government allocated Rs 2.98 billion for social security. This amount represents 14.78 percent of the total budget, 22.67 percent of the current budget, and 5.54 percent of the gross domestic product. Ten years ago, in the fiscal year 2013/14, only 8.17 percent of the total budget was allocated to social security.