Government Prioritizes Labor, Foreign Employment, Youth Empowerment, and Sports in Budget

Kathmandu. The government has also prioritized the sectors of labor, foreign employment, youth empowerment, and sports in the budget for the upcoming fiscal year. In the budget presented by Finance Minister Dr. Swarnim Wagle, a total budget of 3 billion 63 crore has been allocated for the labor and foreign employment sector for the upcoming year.

The budget aims to bring informal sector workers into social security and connect the skills of youth returning from foreign employment to production.

To create an environment of dignified employment within the country, the government has introduced a provision that employers and workers must mandatorily register with the labor registry.

It has announced arrangements for mandatory insurance, workplace safety, and salary payment through banks for workers in the security guard, domestic worker, construction, agriculture, and transportation sectors.

The government has also announced that gig workers will be brought under the scope of formal labor and social security. The budget has announced the development of a system to resolve disputes quickly through the labor court by the end of Poush, bringing violations, wage fraud, and labor exploitation in the labor sector under legal purview as economic offenses.

A program will be started to provide nutritious food at subsidized rates to make the livelihood of informal sector workers easier.

To make foreign employment safe, dignified, and fruitful, the government is launching a remittance-investment matching fund. This will help transform remittances from consumption to productive purposes.

The Returnee Migrant program will be implemented to utilize the knowledge and skills of youth returning from abroad. The cost of going for foreign employment will be encouraged to be zero, service fees will be made worker-friendly, and arrangements will be made for payment by the employer on an installment basis without collateral.

Additionally, the necessary budget has been allocated for the rescue of those stranded abroad and for bringing back the bodies of deceased workers. A receipt-based lottery program will also be conducted to encourage those sending remittances through formal channels.

For youth empowerment and entrepreneurship development, the government has adopted a policy of making youth skilled by conducting various subject-specific short-term and workplace-based training. It has announced the provision of startup facilities for one thousand young entrepreneurs who wish to engage in agriculture and animal husbandry enterprises.

The necessary funds have been allocated to provide young scientists with opportunities for research within the country and to engage in innovation.