Kathmandu, May 24 (PTI) With a thrust on spurring economic growth and establishing a bevy of high-capacity hydropower projects, President Bidya Devi Bhandari on Tuesday presented the country's policies and programmes for the current fiscal year in the joint session of the Federal Parliament .

According to the Constitution, the Nepal government will present the budget for the current financial year on May 29, based on these policies and programmes.

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Earlier on Tuesday, Nepal Prime Minister Sher Bahadur Deuba handed a copy of the government's policies and programmes to President Bhandari after it was ratified by the Cabinet.

During her presentation, the Nepal president told the Parliament that a plan was being chalked out by the Deuba government to help transform the Himalayan nation into a developing country as mandated by the United Nations.

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Import replacement, export promotion, internal production growth, job creation and high economic growth are among the targets of the government in its new policies and programmes.

The president asserted that the Deuba regime would also develop a new agricultural policy.

"The government will develop a new agriculture policy that will focus on its modernisation, mechanisation and climate adaptation among other aspects,” she said.

“Efforts will be made to make local units independent for seeds while producing climate-friendly seeds. The government will make sure chemical fertilisers are available,” she announced.

Furthermore, the President also announced that the government would establish more high-capacity hydropower projects to exploit the country's abundant potential to generate clean energy to ease power shortages.

"The government will establish more high-capacity hydropower projects. It will construct the 1,200 MW Budhigandaki hydropower project with its own resources," she added.

The use of electric vehicles and electric cooking stoves will be promoted, for which the tariffs will be reviewed, she announced.

The government will also involve the private sector in electricity trade, she added.

Last week, India and Nepal agreed to build a 695 MV hydropower plant,which was among the six major deals between the two countries during Indian Prime Minister Narendra Modi's fifth visit to the Himalayan nation.

(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)