Monday, May 30, 2022

Major highlights of budget (Education) for fiscal year 2079/80 Nepal (2022/23 )

May 29: The government has presented an annual budget of Rs 1.793 trillion for the fiscal year 2029/80.  Presenting the budget for FY 2079/80, Finance Minister Janardan Sharma said that the main objectives of the budget include inclusive development, inflation control, providing adequate resources to sub-national governments and a self-reliant economy.

Some of the major highlights (Education, Science and Technology) are listed below:
1. Health and education sectors to be prioritized to increase human development index by 0.65 pc
2. The government has allocated Rs 70.5 billion for the Ministry of Education, Science and Technology. While Rs 5.32 billion is allocated for education at the provincial government, Rs 1.21 billion has been allocated for local bodies
3. The government has decided to create a quality environment for education in the country and has allocated Rs 8.30 billion for the development of technical and business education
4. To attract more students to education, a day-meal program to be extended to students of up to Grade 8 of government schools. At present, such meals are provided only to the students of upto Grade 5. In the first stage, the government is extending it to students of upto Grade 6 in the next fiscal year.
5. Reservation for foreign students and easy visa services for them
6. Procedure to begin to open a medical college in Dadeldhura, PM Deuba’s home district
7. Medical colleges to be established outside Kathmandu also
8. Research centres at TU and other universities to receive additional funds
9. Rs 70.05 billion for the Ministry of Education, Rs 5.32 billion for education at the provincial level, and Rs 121.01 billion at the local level
10. The government has decided to give 75 per cent discount on customs duty on the import of maximum two school buses purchased by community or public schools.