Finance Minister Swarnim Wagle is presenting the budget for the fiscal year 2083/84 in the Federal Parliament.
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In light of the changing economic diplomacy, Nepali embassies in Denmark, Brazil, and South Africa, as well as consulates in Chengdu, San Francisco, and the embassy branch in Visakhapatnam, have been closed.
Digital time cards are to be implemented in government offices. Similarly, systems related to civil services such as land revenue, transport, passport, personal incident registration and social security management will be strengthened, Finance Minister Swarnim Wagle announced in his budget speech.
The government has announced that it will strengthen Nepal's role in multilateral and regional forums, including the United Nations. Finance Minister Swarnim Wagle has said that a strong diplomacy will be taken forward for regional proximity. He said that topics such as the birthplace of Buddhism, the highest peak of Mount Everest, the Himalayan range, yoga meditation, cultural diversity, the image of a peaceful nation and participation in international peace missions will be promoted to expand the power of peace. He said that economic diplomacy will be enhanced to promote export capacity, bilateral trade and investment tourism by empowering Nepali missions abroad.
A budget of Rs 46.92 billion has been allocated for agriculture and livestock development. Similarly, an animal quarantine will be established at the border checkpoint in Hilsa, Humla. Finance Minister Swarnim Wagle has announced in his budget speech that a budget of Rs 2.19 billion has been allocated for subsidy on agricultural insurance premiums.
The government is going to make a law on conflict of interest. Finance Minister Swarnim Wagle informed that the government will make such a law to end policy-level corruption for good governance and control of corruption. The government is going to make such a law in the budget of the upcoming fiscal year.
Gautam Buddha International Airport and Pokhara Regional Airport will be operated in collaboration with the private sector, and night flights will be operated at Bharatpur Airport. Similarly, Surkhet Airport will be expanded in collaboration with the provincial government, Finance Minister Swarnim Wagle announced in his budget speech.
Finance Minister Swarnim Wagle has said that the construction of 72.7 million liters of wastewater treatment plants per day will be completed in Sallaghari, Kodku, Dhobighat, Gokarna and Hanumanghat in the Kathmandu Valley. A budget of Rs 3.46 billion has been allocated for this. Finance Minister Wagle also said that sewage treatment plants will be brought into operation in Khandbari, Belauri, Town Bazaar, Barpak and Trishuli Bazaar outside the valley.
Finance Minister Swarnim Wagle has announced in his budget speech that Nepal's international presence, credibility, and influence will be developed through integrated use of economic diplomacy, cultural identity, and tourism.
Finance Minister Swarnim Wagle has announced in his budget speech that the Great Himalayan Trail and other trekking routes will be made strategic trekking routes and the high-mountain eco-tourism trekking route connecting Khaptad, Ramaroshan, Badimalika, Budhinanda, Rara, Swargadwari, and Muktinath will be developed as a Dafhe route.
The government has mentioned that it will develop other trekking routes, including the Great Himalayan Trail, as strategic trekking routes. Finance Minister Swarnim Wagle has stated that in the upcoming year's budget, a high-mountain ecotourism trekking route called Danfe Route will be developed connecting Khaptad, Ramaroshan, Badimalika, Budhinanda, Rara, Swargadwari, and Muktinath.
A budget of Rs 4.3 billion has been allocated for the sports sector. Similarly, Finance Minister Swarnim Wagle announced in his budget speech that funds have been allocated to hold the 10th National Games in Surkhet and to build the necessary infrastructure for the proposed 11th National Games in Madhesh Province.
Finance Minister Swarnim Wagle has announced in his budget speech that the government will establish a Mines and Minerals Authority for the overall regulation and management of the production, extraction, supply and use of minerals and construction materials.
Finance Minister Swarnim Wagle has announced in his budget speech that initiatives will be taken to include Tilaurakot in Kapilvastu, Janakpur in Dhanusha, and Gokarneshwor in Kathmandu in the World Heritage List.
The government will select students with special interest and ability in sports from the basic level of school and provide them with training with necessary facilities. This was announced through the budget speech.
The main points included in the budget for the fiscal year 2083/84 presented by Finance Minister Swarnim Wagle regarding education are:
• Budget allocation of Rs 218.3 billion for the education sector
• Nepalis employed abroad will be provided with the facility to study through the Open University
• Excellent foreign universities will be encouraged to operate campuses in Nepal
• Education from school to university level will be made innovative and skill-oriented
• Clean toilet campaign will be launched in all educational institutions
The government is set to build modern cricket stadiums in eight major cities within five years. It has been announced that at least 2,000-capacity indoor multipurpose stadiums will be built in Biratnagar, Lahan, Kathmandu, Pokhara, Butwal, Surkhet and Dhangadhi's Fapla within the next three years.
The government is going to launch an entrepreneurship development program for the injured of the Gen-G movement in the upcoming budget. Finance Minister Swarnim Wagle said during the budget speech for 2008/09, ‘The martyrs of the Gen-G movement have been honored and respectable financial assistance has been ensured for the families of the martyrs. We will launch a program for free treatment, monthly allowance according to the situation and entrepreneurship development for the injured of the movement.’
Finance Minister Swarnim Wagle has announced in his budget speech that a budget of Rs 2.27 billion has been allocated to the Ministry of Women, Children, Gender and Sexual Minorities and Social Security.
The government is set to operate air ambulance services in remote areas of Karnali Province. Similarly, the night duty allowance of nursing personnel has been doubled and the allowance of female volunteers has been increased by 50 percent.
Linking sports infrastructure with youth development and the local economy, Finance Minister Swarnim Wagle has announced in his budget speech that 10 football stadiums with a capacity of at least 8,000 spectators will be upgraded with floodlights within the next 3 years.
The government has given special priority to the Khutiya-Dipayal road section in the upcoming budget. Finance Minister Swarnim Wagle has said that the Khutiya-Dipayal fast track connecting Khutiya in Kailali and Dipayal in Doti will be upgraded in the 2083/84 budget.
31 kilometers of blacktop and gravel will be constructed in the Karnali Corridor, 21 kilometers of blacktop and gravel will be constructed in the Kaligandaki Corridor, and 15 kilometers of the northern section of the Koshi Corridor will be constructed. Finance Minister Swarnim Wagle said that Rs 6.25 billion has been allocated for these three corridors.
Finance Minister Swarnim Wagle has announced in his budget speech that a budget of Rs 15 billion has been allocated for the health insurance program. The health insurance program, which was run in private and government hospitals, was closed due to the financial crisis.
Finance Minister Swarnim Wagle has announced in his budget speech that the capacity of Bir Hospital and Kirtipur Hospital will be increased for burn treatment and free treatment for childhood cancer will be provided at government hospitals.
Finance Minister Swarnim Wagle has announced in his budget speech that the best foreign universities will adopt a policy of operating campuses in Nepal and that arrangements will be made for citizens living abroad to study under the Open University.
Finance Minister Swarnim Wagle has said that the construction of the Pushpalal (Mid-Hill) Highway will be completed within the next 3 years. Under this, Rs 2.16 billion has been allocated to complete the upgrading of 65 kilometers of roads and the construction of 5 bridges.
Presenting the budget for the fiscal year 2083/84, Finance Minister Swarnim Wagle has put forward some new plans for health services. Some of the key points included in the budget regarding health are:
• 25 types of medicines being distributed free of cost will be produced in Nepal
• 90 percent of citizens will be brought under the health insurance coverage within three years
• The quota system implemented in higher education, including medicine, nursing, information technology, will be reviewed by the next fiscal year
• Nepal Drug Limited will be improved and expanded in health services
The government has come up with a new policy to promote and regulate the financial technology (FinTech) sector. Presenting the budget for the upcoming fiscal year, Finance Minister Swarnim Wagle announced the establishment of a ‘FinTech Marketplace’ under the direct supervision of Nepal Rastra Bank.
Finance Minister Swarnim Wagle has announced in his budget speech that Nepal has decided to upgrade its status as a least developed country (LDC) in the next two years under the banner of intensive economic and social national renaissance, even though it has currently met the minimum qualification to graduate from the UN.
Some of the key points regarding drinking water presented in the budget presented by Finance Minister Swarnim Wagle in Parliament:
• Deep boring to be carried out in Tarai-Madhesh
• 280 drinking water projects in Tarai-Madhesh to be completed
• Drinking water projects to be operated in Damak, Dharan and Itahari
• Nationwide water testing scheme to be implemented
• Waste water treatment scheme to be brought into operation
Finance Minister Swarnim Wagle has announced in his budget speech that a broad debate will be held on providing grants to recognized political parties based on the votes they received in the last general election.
Presenting the budget for the fiscal year 2083/84, Finance Minister Swarnim Wagle made key announcements regarding road infrastructure:
• Budget allocation of Rs 17.64 billion for Kathmandu-Terai/Madhesh Expressway
• Construction of bridges on national and strategic highways to be completed within three years
• Tunnels to be put into operation from next Shrawan
Finance Minister Swarnim Wagle has announced in his budget speech that the quota system imposed in higher education, including medicine, nursing, information technology, will be reviewed by the next fiscal year.
The government has decided to provide up to 40 percent discount on agricultural produce and marketing. This was announced through the budget speech.
The government is going to give priority to mathematics education. Finance Minister Swarnii Wagle has announced that the government will give high priority to mathematics education used in AI. The announcement was made while giving importance to AI and information technology in the budget for the upcoming fiscal year.
Finance Minister Wagle has said that legal provisions related to foreign investment approval, investment accounting, profit repatriation, and capital gains tax will be amended to allow non-resident Nepalis to participate in the secondary securities market.
Key points made during the presentation of the budget for the fiscal year 2083/84:
- A law on debt recovery will be enacted
- Improvements in the procurement process
- Stability of project managers will be ensured
- The impact of the price increase of construction materials on construction entrepreneurs will be addressed
Some of the key points made while presenting the budget for the fiscal year 2083/84:
- Comprehensive change in tax rates
- Tax-free limit of 1 million
- 31 bodies abolished, 6 bodies merged
- To make the bureaucracy dignified, the salaries of civil servants, military personnel, and teachers will continue to increase.
Prime Minister Balendra Shah is about to arrive in Parliament. His security personnel have already arrived at the Parliament. After the Council of Ministers passed the budget for the fiscal year 2083/84, the ministers are also heading towards the Parliament building for the budget speech.
Finance Minister Swarnim Wagle will not carry a briefcase during his budget speech for the upcoming fiscal year 2083/084. He will present the budget in Parliament carrying a file made of Nepali paper. Previous Finance Ministers Barshaman Pun and Bishnu Poudel presented the budget in Parliament carrying bags made of bamboo. -Angad Dhakal










