Nabin Khanal 
फाइल तस्विर 
Kathmandu, May 28: The government has allocated a budget of Rs 1.474(15 billion dollars approx) trillion for the coming fiscal year.
Finance Minister Dr. Yuvaraj Khatiwada has presented the budget for the fiscal year 2077/78 in the parliament. The budget includes Rs. 948 billion for current expenditure and Rs. 352 billion for capital expenditure. The budget has allocated Rs 172 billion for financial management. The budget is estimated at Rs 8.89 billion from revenue, Rs 299 billion from foreign aid and Rs 225 billion from domestic debt.
The government is going to expand the scope of the Prime Minister’s Employment Program and implement public development works at the federal, state and local levels through labor-intensive technology.
Presenting the budget for the coming fiscal year 2077/78 in the joint sitting of the federal parliament today, Finance Minister Yubaraj Khatiwada said that 200000 more jobs would be created through the Prime Minister’s Employment Program. A budget of Rs. 11.60 billion has been allocated for that. In the current Fiscal Year, the government had allocated Rs. 5 billion 10 million to provide employment to 60,000 people through the Prime Minister’s Employment Program.
He informed that arrangements have been made to provide access to skill development training and technology so that Nepalis can get the employment opportunities created after the return of foreign workers working in the country’s labor market due to Corona.
Skills of handicrafts, plumbing, electrical maintenance, electronics, craftsmen, carpenters, dockers, tailors, beauticians, hairdressers, etc. Training will be conducted at the association and state level. Out of this, Rs. 1 billion has been allocated so that at least 50,000 people can get employment.
He said that the budget has been allocated to create more jobs and employment opportunities in the country considering the impact of Covid-19 on the employment of citizens at home and abroad. He informed that the program has been decided to create work and employment opportunities for all Nepalis by increasing the productivity of labor through dignified work, social security and ideal labor relations.
In line with the spirit of ‘Build Your Own Village’, food programs will be implemented for the needy families in the labor-intensive social and physical development projects of the local level. He informed that necessary budget has been allocated to mobilize the unemployed, those who have lost their jobs due to Corona and those who have returned from foreign employment for the construction of participatory and labor-oriented development with technology.
The Government is going to make social security mandatory and ubiquitous based on the life cycle. Presenting the budget for the coming fiscal year 2077/78 in the joint sitting of the federal parliament today, Finance Minister Dr Yubaraj Khatiwada said that special protection and protection would be provided by the state to the economically deprived, disabled, helpless, single women, children, endangered and marginalized communities.
He said that the social security allowance being given so far has been continued. Rs. 67.50 billion has been allocated for social security allowance. Senior Citizen Service Centers will be operated at all local levels. Centers will be expanded in the remaining local level and wards in the coming Fiscal Year.
Three lakh people have already benefited from the senior citizen insurance program started by the government. The service will be provided to another three lakh next year. In the current fiscal year, three lakh poor people have received health services and next year, another four lakh families will get the facility.
The government will encourage all workers to be listed in the Social Security Fund to bring all workers and workers under the scope of social security. The Finance Minister said that the existing law on operation of retirement fund will be amended to bring the civil servants who are not included in the existing system of contribution-based pension under the scope of social security.
The government is going to transform every local level employment information center into a labor information bank. Finance Minister Yubaraj Khatiwada gave the information while presenting the budget for the coming fiscal year 2077/78 in the joint sitting of the federal parliament today.
50 percent of the minimum wage for a maximum training period of up to three months will be provided to such establishments if the productive industries of the private sector provide employment and training to the workers recommended by the Labor Information Bank.Rs. 1 billion has been allocated to provide such grants. It is expected to provide skilled employment to about 50,000 people.
He said that skill-based training will be provided to 75,000 people next year by strengthening technical and vocational education and training providers. Rs. 4.34 billion has been allocated for that. The program is expected to provide employment to new workers entering the labor market, unorganized sector workers who have lost their jobs due to corona, and young people returning from foreign employment.
Under the concessional loan program provided by banks and financial institutions, necessary arrangements will be made through Nepal Rastra Bank to create additional employment by providing concessional loans at the rate of at least 10 per branch for commercial banks and at least five for development banks, said the Finance Minister.
Similarly, no allowance of any kind will be provided to the employees except those who are in the forefront in the fight against Covid-19 from next year.
For more about the Budget 2077/78,please click here.
