On Tuesday, Jestha 15, 2081, Honorable Finance Minister Mr. Barshaman Pun unveiled ICT and Telecom industry plans off his “Made-in-Nepal” briefcase with his budget speech for Fiscal Year FY 2081/82. The big fiscal budget worth over Rs 1.86 trillion (One trillion, eight hundred sixty billion, three hundred million to be exact.) gives a good portion of significance to the telecom and ICT industry and their implementation and seeks to develop the country as an IT hub. Announcing his 2nd ever budget speech, here’s what finance minister Pun announced for the telecom industry for FY 2081/82.
Major plans policies for Telecom, ICT in Nepal budget for FY 2081/82
Mr. Pun highlighted that the next decade 2081 – 2091 BS will be celebrated as an IT decade. He also stressed significantly high employment generation through the industry. Without further ado, let’s find all in detail:
- The government of Nepal will treat ICT as one of the major backbones of the country’s national economy. Programs and policies will be formulated to develop the country as an IT hub.
- Likewise, the government has set a target of exporting Rs 3 trillion of ICT services in 10 years. In 2022, Nepali ICT professionals exported ICT services worth Rs 67 billion. With the burgeoning ICT industry, the government also seeks to create 5 lakhs direct and 10 lakh indirect employment. During his budget speech, Mr. Pun shared that the upcoming fiscal year FY 2081/82 will be a start to an IT decade. Besides, necessary laws will be formulated to implement newer and innovative technologies in information technology.
- In his budget speech FY 2081/82, Finance Minister Pun said that internship opportunities will be provided to ICT students from bachelor’s and master’s levels in the related industry.
- A Nepal Startup Trust will be set up to empower entrepreneurs and for startup regulation. Similarly, incubation centers will be established in all seven provinces to transform innovative ideas into enterprises.
- Arrangements will be made for the development, regulation, and promotion of artificial intelligence.
- The government will work on ensuring affordable high-quality internet. All ward centers, community schools, and health centers will be connected by broadband internet connection. The broadband project by Nepal Telecommunications Authority (NTA) has already done much of it. But, the government wants to ensure that every remaining entity gets the benefit.
- The Digital Nepal Framework will be revised, and institutional arrangements will be made for its implementation and regulation. Minister Pun said that he has sanctioned Rs 59 crore for this project.
- The government will utilize public and private buildings in Kathmandu and Butwal for IT parks. These infrastructures will be equipped with high-speed internet, electricity, and security. Free areas will be provided to operate the workstation for 3 years.
- Public and private cooperation will be initiated to establish an advanced IT hub in Kathmandu. This will involve establishing a multi-story building in Charkhal, Dillibazar. Check out: Telecom industry in 2023: A year of ‘shock and awe’
- Also, during his FY 2081/82 budget speech, Pun announced that he has sanctioned Rs 17 crore to build a Gyan park in Khumaltar, Lalitpur.
- The government will prioritize domestically developed software by having it used in public bodies.
- Government data centers will be upgraded while standards will be set for data centers operated by private sector.
- Storage, usage, and security of electronically stored data will be made more organized and reliable.
- The government will also conduct the probability of Podway and work on starting its construction.
- To bridge the digital divide, ICT access will be extended to underserved groups, regions, and women.
- An online application system will be made smoother and more accessible for e-Visa.
- National ID cards will be required for many government services. National ID cards will be integrated into passports, social security, PAN cards, etc.
- Digital banking, mobile banking, and more accessible further expansion in remote and rural areas.
- E-Governance will be emphasized by making public services faceless, cashless, and contactless.
- Interoperability will be established between IT systems used by taxpayers and the tax administration. Details entered through the taxpayers’ portal will be submitted via an API. Find: Mobile & internet banking, and other digital transaction limit in Nepal
- Taxpayers with no tax dues can get a tax payment certificate with a QR code. This requires that the taxpayer has already paid all the applicable taxes.
- AI will be used to provide services from the revenue department aligning with the culture of faceless, contactless, and paperless services.
- An ICT-inspired customs system will be initiated. The customs offices will be equipped with metal detectors, X-ray machines, baggage, and vehicle scanners.
- Digital signatures of customs officers will be implemented in declaration letters.
These were some of the most significant topics that came through Mr. Pun’s budget speech for FY 2081/82. More details in depth will certainly follow. But we did surely miss on MDMS, TERAMOCS, 5G, and other key topics that have remained hot over the past months and even years. The upcoming FY 2081/82 commences on Shrawan 01, 2081.
What are your highlights from this budget? Is it the Rs 3 trillion target or the effective implementation of the policies? Don’t forget to share with us in our comment section below.
