Kathmandu: The Government of Nepal has officially designated the revitalization of the agricultural sector as a cornerstone of its national development strategy.
While presenting the federal budget for the upcoming fiscal year 2083/84 during a joint session of the Federal Parliament, Finance Minister Dr Swarnim Waglé announced a comprehensive commitment to overhaul the entire ecosystem of agricultural production, processing, and marketing.
The Minister emphasized that the state aims to modernize the sector, transforming it into a respected and highly lucrative profession that attracts both domestic investment and young entrepreneurs.
In a bid to drive large-scale commercial farming, the government is launching a pioneering pilot project aimed at providing significant financial support for initial capital investments in agriculture and livestock production. Under this new initiative, farmers who invest a minimum of 20 million rupees in their ventures will be eligible for a government incentive grant covering up to 40 percent of the project cost. This financial assistance is designed to lower the entry barriers for high-value agricultural projects and encourage the shift toward industrial-scale production.
According to the roadmap laid out by the Finance Minister, this incentive grant will be managed through a structured reimbursement system to ensure long-term productivity and accountability. Starting from the year a project successfully begins production, the government will provide the grant in annual instalments of 10 percent over a period of four years.
By linking the financial reward directly to the commencement of production, the administration hopes to ensure that public funds effectively stimulate actual market output and contribute to the nation’s overall food security and economic resilience.
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