President Ramchandra Paudel presented the government’s policies and programmes for the upcoming fiscal year on Tuesday at the joint meeting of the House of Representatives and the National Assembly.

President Paudel read the government’s policies and programmes, stating that the economy has gradually improved due to the balanced implementation of financial and monetary policies.

“Economic indicators have improved. The economic growth rate has improved compared to the previous fiscal year, while the inflation has decreased. An investment-friendly environment has been made by amending laws,” claims the government’s document presented by the head of state.

The government announced that it would take initiatives to attract more foreign investment and to unveil programmes to boost the morale of the private sector.

The policies and programmes mention that closed industries will be opened and sick institutions will be managed as per public-private partnerships.

Likewise, President Paudel said the installed electricity generation capacity has reached 3,940 MW, and 98 percent of the people have access to electricity. While reading the government document, President Paudel said the export of electricity to India and Bangladesh has been ensured.

The head of state said the government’s main priorities are implementing the constitution, strengthening federalism, reforming the economy, and curbing corruption.

President Paudel said the incumbent government was committed to fulfilling the national dream of ‘Prosperous Nepal and Happy Nepali’ through political stability, good governance, development, and social justice, promoting socialism-oriented economic and social transformation in the country.

He said the government has been implementing its policies and programmes to strengthen the federal democratic republic for the happiness and prosperity of the Nepali people. President Paudel said the government has also laid emphasis on employment generation, promotion of good governance, improvement in public services delivery and establishment of a citizen-friendly governance system.

Grants will be transferred with conditions based on objective criteria, and integrated laws will be formulated to determine the mobilisation and sharing of natural resources, investment, and profit-sharing among the three-level governments and to resolve related disputes among them, according to policies and programmes.

The government has a policy of mobilising innovative instruments of development finance with additional legal provisions for the encouragement of private capital mobilisation.

It promises to undertake legal and structural interventions to enhance and expand the domestic and external investment atmosphere. The government said it would facilitate foreign loans and other mixed forms of investment.

Presenting the government's policies and programmes, President Paudel underlined that Nepal would be developed as global information technology hub encouraging to develop IT industry as the major sector of employment and service export.

At least 5,000 employments would be created by running IT work station at appropriate places in the Kathmandu Valley and each province, reads the policies and programmes. Similarly, a legal and institutional arrangement would be made for the safe and effective use of communications and information technology and system as well as the government has a plan to revise digital Nepal framework.

“Internet and data exchange platform will be prepared to maintain inter-affiliation among electronic systems”, said President Paudel. The government has a plan of brining citizen service centre into operation with collaboration of local levels to provide all public services from one place.

The policies and programmes mention that broadband service would be made of quality, accessible and safe by expanding broadband internet as well as high-capacity optical fibre expansion activity would be accelerated to provide high-speed internet service as well as satellite-based internet service would be launched at remote and rural areas.

Finance Minister Barshaman Pun will unveil the government’s fiscal budget on May 28, which is based on the same policies and programmes presented by the President.

Before the national budget is presented, both the Houses of the federal parliament must endorse the government’s policies and programmes after deliberations.

The main opposition, the Nepali Congress, has been obstructing the budget session of the parliament since the first day of the session. However, it has allowed the President to table policies and programmes.

The government passed the policies and programmes earlier today. A cabinet meeting held at the Office of the Prime Minister and Council of Ministers, Singha Durbar, today approved the policies and programmes, said Minister for Communications and Information Technology and Spokesperson of the government Rekha Sharma.

The meeting also endorsed the 16th five-year plan, said Minister Sharma. The National Planning Commission had sent the draft of the 16th periodic plan to the Office of the Prime Minister and Council of Ministers on Sunday for final endorsement.