And not a new fact, the major objective of this year’s budget is to promote fundamental right of citizens and upgrade economy of developing countries. Here’s the summary of Nepal’s 2076/77 fiscal year budget for the federal government; and we sum up what and how the government has prioritized Information, Communication, Technologies and other younger infra on their list. Let’s find technology coverage of Nepal’s budget 2076/77.
Nepal’s Budget 2076/77 highlights
Budget Size: Rs 15.32 kharba
Current Expenditure: Rs 9.57 kharba (62.4%)
Capital Expenditure: Rs 4.08 kharba (26.6%)
Financing: Rs 1.67 kharba (11%)
Tax revenue: Rs 9.81 kharba
Foreign Grant: Rs 57.99 arba
Foreign Debt: Rs 2.98 kharba
Internal Debt: Rs 1.95 kharba
Inflation to be controlled under 6%This year’s major updates:
Growth Rate: 7%
Inflation: 4.5%
This year has witnessed highest number of tourists visits.
Import increased by double in the first 9 months
2257 branches of BFIs opened this year.
39% decline in workers going abroad
21% rise in remittance
Technologies @ Budget 2076/77
- National payment gateway to be promoted
- Radio Nepal and NTV will be integrated
- Cyber security law will be made more strict
- Electricity and drinking water payments to be made fully digital
- Nepal’s own satellite will be established
- Postal services will be upgraded
- Digital Nepal framework to be promoted and will be brought into operation
- In coming 5 years all government transactions will be digitized.
- National identity card system to be developed and completed within 2 years
- Hello Sarkar will be upgraded and brought in all 7 provinces
- Company act, banking act and technology transfer act will be amended and implemented
- Telephone and electricity lines will be kept underground
- Smart cities to be established in various parts of the country
- Adequate charging facility for electric vehicles with the initiation of NEA
- Engineering staff college to be established
- Digitization of all land ownership papers and blueprints within 2 years
- Weather radar will be brought into operation with Rs 60 crore allocated for 2 more radars
