Nepal's President Unveils Ambitious Plans for Fiscal Year 2025-26
Key Ideas
- President Paudel aims to scrap unviable projects, reform tax systems, promote digital banking, and boost green energy initiatives to enhance Nepal's economic competitiveness.
- Energy sector advancements include plans for hydropower projects using remittances from migrant workers and commercial production of green hydrogen, reducing fossil fuel reliance.
- Efforts towards environmental conservation involve introducing Euro 6 emission standards for vehicles, managing watersheds, and revamping the Chure Conservation Plan.
- The government's policy document highlights commitments to democratic values, economic transformation, good governance, countering regressive forces, and promoting political stability and consensus.
President Ramchandra Paudel of Nepal presented the government's policies and programmes for the fiscal year 2025-26. The plans include reassessing infrastructure projects, reforming tax systems, promoting digital banking, and expanding green energy initiatives. The focus is on completing infrastructure projects within the current parliamentary term and developing a taxpayer-friendly revenue system. Additionally, there are initiatives to establish a digital bank, extend digital infrastructure, and encourage cashless transactions. In the energy sector, there are strategies to develop hydropower projects, promote green hydrogen production, and reduce fossil fuel dependence by blending petrol with bioethanol. The government also aims to boost forest-based production, pass the School Education Bill, and enhance environmental conservation efforts. President Paudel's address emphasized commitments to democratic values, economic and social transformation, good governance, countering regressive forces, and promoting political stability through consensus building. The government's focus also includes education reform, entrepreneurship promotion, and job creation.
Topics
Green Hydrogen
Government Policies
Infrastructure
Green Energy
Economic Development
Environmental Conservation
Tax Reforms
Digital Banking
Education Reform
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