Finance Minister Dr. Swarnim Wagle Announces Budget Initiative to Eliminate the Need for Youth to Seek Jobs Abroad

Finance Minister Dr. Swarnim Wagle has declared that within the next five years, young people will no longer be compelled to go abroad for employment. Speaking at the National Youth Entrepreneurship Conference held in Kathmandu, he revealed that the upcoming fiscal year’s budget will mark the beginning of a new initiative to provide sufficient employment and educational opportunities domestically for the youth. Kathmandu, 31 Jestha.

Dr. Wagle stated that the government is committed through the budget to ensuring that young people do not have to pursue jobs overseas to fulfill their dreams. At the National Youth Entrepreneurship Conference 2083 held on Sunday, he explained that this initiative will start with next year’s budget and aims to achieve definitive success within five years.

“For the past 15–20 years, our country’s youth have been forced to go abroad to realize their aspirations,” Finance Minister Wagle said. “Now, to prevent such circumstances, we have begun laying the foundation through the budget. To fully understand this, an in-depth study of the budget is necessary, and its successful implementation will guarantee this pathway.”

Addressing youth entrepreneurs nationwide, Dr. Wagle highlighted tax incentives, exemptions for entrepreneurs and business owners burdened with tax arrears, and how government initiatives focused on digitalization and good governance will open up innovative avenues. He disclosed that youth earning up to NPR 100,000 are completely exempted from tax obligations. Furthermore, the budget includes provisions for facilitating a fresh start for industrialists and businesspeople experiencing tax difficulties. He urged everyone to take advantage of these benefits. He also mentioned that the budget process has given special attention to incorporating youthful entrepreneurial ideas and planning, with programs designed accordingly.