The Government of Nepal has presented a budget of NRs. 1.64 Trillion for this fiscal year 2021/2022. The budget is focused on controlling the Covid-19 pandemic and recovering the economy.
The budget was declared by the Minister of Finance, Bishnu Prasad Poudel. The budget was prepared through an ordinance at the Prime Minister’s and Council of Ministers’ Office Singha Durbar on May 29, 2021. The budget has been increased by nearly Rs 200 Billion as compared to last year.
The government has allocated Rs. 678.61 Billion for the current expenditure of the federal government. This is 41.2 percent of the total budget.
Similarly, Rs. 347 billion has been allocated for capital. That is 22.7 percent of the total budget. Accordingly, Rs. 207.97 billion has been allocated for financial management. This is 12.6 percent of the total budget.
The control of the pandemic of COVID-19 has been made the priority in the budget unveiled by Finance Minister Poudel.
Minister Poudel informed that a budget of Rs. 26.75 billion has been allocated for the purchase and management of vaccine against COVID-19.
He informed that a free examination for breast and cervical cancer of women above 40 years of age has been arranged once a year.
Similarly, the government has increased the senior citizen allowance to NRs 4,000 per month. Similarly, the government will provide a ‘State Facilitation Identity Card’ for the identification of poor families.
Also, the government has increased the transportation allowance of 52,000 women health volunteers across the country by 100 percent to Rs 12,000.
The government has stated that it will start free treatment of journalists in government hospitals from this fiscal year.
It is mentioned in the budget that the journalists will be treated based on the press card issued by the Department of Information and the treatment facility provided by the Press Council Nepal.
Similarly, the government will bear the contribution of the workers affiliated to the contribution-based social security fund for two months.
In the budget speech, the government will provide a loan of up to Rs 2.5 million on the collateral of the academic certificate. Finance Minister Poudel said the maximum interest rate would be five percent.
Similarly, the government has also allocated a budget for capacity building of the National Human Rights Commission.
Click here to read the full budget for the upcoming fiscal year