Kathmandu, May 29 (PTI) Nepal's Deputy Prime Minister and Finance Minister Bishnu Paudel on Thursday unveiled a budget of approximately NPR 1,964 billion for the upcoming fiscal year 2025-26.

Paudel allocated NPR 730 million in subsidised loans to support startups in the budget, which was presented during the joint session of the Parliament. The loan scheme will be offered at a concessional interest rate of just 3 per cent and is aimed at encouraging innovation and entrepreneurship, particularly among the Gen-Z people (those born between 1997 and 2012).

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For the social security allowance, the government has allocated NPR 109 billion in the budget, which will take effect from mid-July. Similarly, NPR 10 billion has been set aside for health insurance.

Additionally, to attract international students, free visas will be offered as part of a scheme outlined in the budget to foreign students wishing to pursue higher studies in Nepal.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)