June 14: Government, for the first time, has prepared and allocated budget as per the concept of sustainable development goals. The budget of upcoming year has been prepared as per the concept of sustainable development goals in a bid to reach the middle income countries (MICs) by 2030. The program announced by the General Assembly of the United Nations will start in 2016 and conclude in 2030 includes 169 indicators to achieve 17 sustainable development goals.

According to the Finance Ministry, budget has been allocated as per concept as the upcoming fiscal year is the first year of implementing the set policies to achieve the targets.

The government has expected to end poverty, reduce famine to zero, build sustainable city and communities and improve livelihood of common people through sustainable production and consumption. Similarly, it also hope comprehensive improvement in the sectors of industry, innovation and infrastructure, access to modern energy, healthy life, quality education, gender equality, inequality reduction, economic development and climate change. The UN has emphasised on formation of appropriate plans and strategies for the implementation of the concept ‘5-P’to achieve said targets.

The government has allocated the highest budgetary amount of 19.93 percent for the development of sustainable cities and communities. The government has allocated Rs 1048.92 billion under the heading for the upcoming FY. The amount will be spent on reconstruction of areas destroyed by the last year’s devastating earthquake along with the integration of areas that are in risks of natural calamities. Similarly, the government is also planning to develop modern cities across 10 locations each of Pushpalal (Mid-Mountainous) Highway and Postal Highway in the upcoming FY to achieve the sustainable goals.

Likewise, the government has allocated 18.34 percent of the budget to end poverty by 2030. It plans to reduce poverty to zero by next15 years which will be at 21.6 percent in the first year of implementation of the program. However, the government has acknowledged that the reduction of poverty to 3 percent will be considered success given that the zero poverty target will be very hard to achieve.

Likewise, the government has allocated 11.27 percent budgetary amount on industry, innovation and infrastructure. The government has set target to increase per capital income to USD 2500 from 766 by making the country self-reliant through the development of industrial sector.  The upcoming budget allocation is prepared as per the global recognition and issues related with development goals in the context of Nepal.