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The Nepali government has unveiled its policies and programs for the fiscal year 2024/25, with a focus on intervening in the microfinance sector to support borrowers facing financial challenges. President Ram Chandra Paudel addressed the Federal Parliament, highlighting the government’s plans to provide refinancing and loan restructuring for microfinance institutions.

In addition to the microfinance intervention, the government announced a multi-pronged strategy for the upcoming fiscal year, including empowering 1,000 youths with loans to start their businesses. The government also plans to launch an innovation and national startup campaign to promote entrepreneurship and collaborate with academic institutions for business incubation.

Meanwhile, the Nepal Stock Exchange (NEPSE) witnessed a surge, reaching 2,027.51 points, signaling positive market dynamics. The Securities Board of Nepal (SEBON) implemented reduced commission rates for stockbrokers, aiming to stimulate market activity and redirect investable liquidity to the banking sector.

On the economic front, Nepali banks have slashed deposit interest rates due to sluggish loan demand and excess liquidity. The government also announced plans to form a regulatory body for cooperative oversight to protect savings and investments in the cooperative sector.

Overall, the government’s policies aim to support microfinance, youth entrepreneurship, cooperative integration, and efficient budget allocation while aligning with the country’s economic agenda. The commitment to provide year-round Melamchi Drinking Water in Kathmandu reflects the government’s efforts to ensure consistent access to essential services for its residents.