Kathmandu May 30, 2021 - The Government of Nepal has appropriated a budget of Rs 180.4 Billion out of the Rs 1.64 trillion national budget for the education sector for the upcoming fiscal year.
The budget was unveiled in the federal parliament by Finance Minister Bishnu Prasad Paudel through an ordinance.
The finance minister allocated Rs 10 billion for the President Educational Reform Program to build well-equipped classrooms, computer labs, teacher training, playgrounds, laboratories, and other educational infrastructure. The government has also increased the salary of child development teachers and school staff to Rs 15,000.
The government has decided to give concessional loans of Rs 80 thousand at a one percent interest rate for two years to purchase laptops to support alternative education.
Similarly, the government has also announced to run residential schools in 13 districts. The government has also decided to provide scholarships for the children of martyrs and people who died due to COVID or HIV.
A budget of Rs. 18.34 billion has been allocated to provide grants through the University Grants Commission. The government will also be offering a conditional loan of Rs. 2.5 million to the students who have completed bachelor's level at a five percent interest rate against their certificates as collateral.
