Highlights of Nepal Budget 2081/82

The Nepal government's budget for fiscal year 2081/82 has outlined significant financial allocations and reform plans across various sectors.

Major Budget Allocations

1. Total Budget: NPR 18.60 trillion

- Current Expenditure: NPR 11.40 trillion (61.31%)

- Capital Expenditure: NPR 3.52 trillion (18.94%)

- Financial Management: NPR 3.67 trillion (19.74%)

Revenue Sources

1. Revenue: NPR 12.60 trillion

2. Foreign Grants: NPR 52.33 billion

3. Foreign Loans: NPR 2.17 trillion

4. Internal Loans: NPR 3.30 trillion

Major Objectives

1. Increase Production, Productivity, and Employment:

- Enhance production and productivity while creating employment opportunities.

2. Promote Private Sector:

- Boost private sector confidence and implement investment promotion plans.

3. Human Resource Development:

- Focus on the development of human resources and encourage high-level empowerment.

4. Balanced Utilization of Resources and Means:

- Ensure balanced and equitable utilization of resources and means to reduce economic inequality and poverty.

5. Effective Public Service Delivery:

- Improve public service delivery to enhance the living standards of citizens.

Priorities

1. Economic Reform and Private Sector Promotion:

- Accelerate economic reforms and support the private sector with specific plans.

2. Agriculture, Energy, Information Technology, Tourism, and Industrial Development:

- Give special priority to these sectors for comprehensive development.

3. Development of Education and Health Sectors:

- Allocate budget for the development of education and health sectors to improve the living standards of the general public.

4. Inclusivity and Social Security:

- Implement inclusivity and social security programs to benefit all citizens.

5. Promotion of Good Governance:

- Improve public services to promote good governance.

Strategies

1. Structural Reforms:

- Form a high-level economic reform advisory task force for structural economic reforms.

2. Improvement of Business Environment:

- Formulate policies, 'Country Rating', and double taxation agreements.

3. Public Finance System Reforms:

- Implement specific plans to reform the public finance system.

4. Financial Sector Reforms:

- Implement various measures to strengthen the financial sector.

5. Public Administration Reforms:

- Improve public administration to make service delivery more effective.

### Specific Initiatives and Allocations

Transformation of the Agricultural Sector:

- Modernization of Agriculture: Invest in modern agriculture to increase production and productivity.

- Declaration of Special Areas: Identify and develop special areas based on geography and ecological conditions.

- Support for Commercial Farming: Provide grants and technical assistance for commercial farming ventures.

- Investment in High-Value Crops: Promote the production of high-value crops like fruits, herbs, and organic products.

Development of the Energy Sector:

- Hydropower Projects: Advance the construction of major hydropower projects.

- Expansion of Electricity Access: Ensure 98% of the population has access to electricity.

- Promotion of Renewable Energy: Encourage investment in solar, wind, and other renewable energy sources.

Development of the Information Technology Sector:

- IT Export Target: Aim for NPR 30 trillion in IT exports over the next decade.

- Employment Generation: Create 500,000 direct and 1,000,000 indirect jobs in the IT sector.

- Establishment of IT Parks and Innovation Centers: Set up IT parks and innovation hubs in Kathmandu and Butwal.

Promotion of Tourism:

- New Destinations: Identify and develop new tourist destinations.

- Infrastructure Development: Invest in tourism infrastructure to enhance visitor experiences.

- Cultural and Religious Tourism: Promote cultural and religious tourism by developing sites like Janakpur and Lumbini.

Industrial and Entrepreneurial Development:

- Encouraging Domestic Production: Promote 'Make in Nepal' and 'Made in Nepal' initiatives.

- Support for SMEs: Provide financial and technical support to small and medium enterprises.

- Development of Industrial Zones: Develop industrial zones to support manufacturing and other industrial activities.

Summary of Major Budget Allocations

This summary encapsulates the main points of the Nepal government’s budget for fiscal year 2081/82, highlighting significant financial allocations and reform plans across various sectors.