Nepal

National Budget FY 080/81: 2023-2033 to be marked as Tourism Decade

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KATHMANDU, MAY 29In a parliamentary session on Monday, Finance Minister Dr.

Prakash Sharan Mahat unveiled the budget for the forthcoming fiscal year 2080/81. The announcement took place during a joint session of the National Assembly and House of Representatives in the federal parliament. Addressing the joint session of the federal parliament this evening, Finance Minister Mahat stated that recognizing the importance of tourism, the government has declared the years 2023-2033 as the Tourism Decade, with a focus on promoting Nepal as a prime tourist destination.

Additionally, legislation will be enacted to facilitate the sale of Nepali goods and services through e-commerce platforms. In a bid to revitalize the tourism industry and unleash its potential as a key driver of economic growth, Nepal's budget for the fiscal year 2080-81 includes ambitious targets to attract more tourists and boost the sector's contribution to the national economy. Budget prioritises increase in capital expenditures: Finance Minister National Budget: Govt to study prospect of marijuana farming for medicinal purposes The government aims to increase tourist spending from the existing $48 to $125, creating a significant impact on the local economy.

To achieve this, the budget outlines plans to create one million direct jobs in the tourism sector, providing employment opportunities for the local population.Additionally, the goal is to elevate the tourism sector's contribution to the national GDP to 10 percent, highlighting its significance as a major revenue generator.

With a determined focus on recovery, the government aims to bring tourist numbers back to pre-pandemic levels by 2024, demonstrating its commitment to restoring Nepal's position as a top tourist destination.These measures reflect the government's strategic vision to harness the full potential of the tourism sector and leverage it as a catalyst for inclusive growth and sustainable development.#13;The constitutional requirement obliges the government to reveal the budget on Jestha 15 each year. Earlier, on Jestha 05, President Ram Chandra Paudel, the incumbent at the time, had presented the ruling coalition government's policies and programs for the upcoming fiscal year.

Typically, the government formulates the budget based on its outlined policies and programs, serving as a blueprint for its planned course of action. .

This article first appeared/also appeared in https://thehimalayantimes.com 




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