Nepal's Fiscal Strategy: Boosting Innovation and Global Education

Nepal's Deputy PM, Bishnu Paudel, announces NPR 1,964 billion budget for 2025-26, focusing on startup loans, social security, health insurance, and educational incentives for international students. The budget aims to foster entrepreneurship, support social welfare, and enhance Nepal's appeal to foreign scholars.

Nepal's Deputy Prime Minister and Finance Minister Bishnu Paudel unveiled a budget of approximately NPR 1,964 billion for the 2025-26 fiscal year, Thursday. Addressing a joint session of Parliament, Paudel introduced measures to stimulate economic development and social welfare.

The budget allocates NPR 730 million for subsidised loans to support startups, with a concessional interest rate of 3%, targeting Gen-Z entrepreneurs. Additionally, initiatives include NPR 109 billion for social security and NPR 10 billion for health insurance, effective mid-July.

To attract international students, the budget offers free visas for those pursuing higher studies in Nepal, aiming to solidify the country's reputation as an educational hub.

(With inputs from agencies.)