Kathmandu: The government has heavily reduced the budget to the Ministry of Labour, Employment and Social Security. The budget presented for the fiscal year 2025/026 reduced nearly half the amount to the ministry as compared to the previous allocation.
According to National News Agency Nepal, Deputy Prime Minister and Finance Minister Bishnu Paudel presented the budget in the joint session of the federal parliaments today. He informed that the Ministry of Labour, Employment and Social Security was allocated Rs 4.28 billion, while all sorts of social security were allocated Rs 109 billion.
In the last fiscal year, the government had allocated Rs 8.10 billion to the ministry. With this, the present allocation is reduced by 47.17 percent.
Unveiling the budget, the Minister said youths would be capacitated as per the need of the labour market in order to sustainably resolve employment problems. He shared that the government allocated Rs 1.99 billion to run the national employment promotion programme for the coming fiscal year. An employment portal would be launched and every province will have an employment fair.
Similarly, bilateral labour agreements would be made with various countries through diplomatic channels for the diversification of labour destination.