Janardhan Sharma, Finance Minister of Nepal, presented the Fiscal Policy (Nepal Budget 2079/2080) for this fiscal year in the National Assembly House on 29th May 2022. The budget plans to achieve economic growth of 5.2% in the coming year. The budget this year has promised a number of initiatives to adapt to and benefit from economic growth through the proper use of information technology. This includes different sectors like education, banking & finance, telecommunications, etc.
In this article, we’ll go over eight budget takeaways related to information technology and digital payments. Let’s take a closer look at what’s in store for the coming fiscal year and the future of our country.
- Digital education
The government has allocated Rs. 10 crores to provide digital education resources to rural areas throughout the country, as stated in the budget statement.
- Making Internet rates affordable
The government is making efforts to reduce internet costs so everyone can easily access digital services. Moreover, plans are underway to improve the security and services of telecommunications in the country for public experience enhancement.
- Establishment of disaster recovery centers
The government is planning to enhance the capacity of the Nation’s telecommunications infrastructure by establishing data centers and securing data and providing timely access.
- Expanding access to digital news platforms
The government plans to make digital news platforms like Radio Nepal and Nepal television available to the nation’s unreached areas. To provide everyone with the latest news from around the country and the world.
- Expanding reach of internet
Government plans to expand Internet access to rural areas and provide free Internet access in the country’s various major tourist areas.
- Awareness of Financial Education
Through the integration of the topics in the course materials, the government is aiming to make individuals aware of banking and financing from a very young age.
- Digital Banking for rural areas
The government has set a goal of expanding banking and financial institutions to the rural areas of the country in order to prepare for digital banking in the coming year.
- Enhancing the security of Digital Banking
In the upcoming year, the government is aiming to secure all digital financial transactions. And, make proper use of banking services for social security payments and other incentives.
Looking to learn more about this year’s budget? You can read the full budget statement from the website of the Ministry of Finance, here.