NPR 6.08 Billion Allocated for Youth and Sports in FY 2082/83
The government has allocated a budget of NPR 6.08 billion for the Ministry of Youth and Sports for the fiscal year 2082/83.
Compared to the current fiscal year, this is nearly double the budget amount previously allocated.
In the current fiscal year, the budget allocated for the Ministry of Youth and Sports was NPR 3.50 billion.
Allocation for 10th National Sports Tournament
Finance Minister Bishnu Prasad Paudel, while presenting the budget speech for the upcoming fiscal year in the joint session of Parliament on Thursday, announced NPR 540 million for the 10th National Sports Tournament.
The tournament is scheduled to be held in Karnali Province for the first time. The current fiscal year had already allocated NPR 600 million for the same event.
However, due to various reasons, the tournament could not be organized within the scheduled time. As a result, funds have again been allocated for the event in the new budget.
Construction of a Modern Stadium in Damak
The upcoming budget also includes funding to construct a well-equipped, modern stadium in Damak, Jhapa, where multiple sports competitions can be held at a single venue.
High Priority to Sports Infrastructure
The new fiscal year’s budget gives special priority to the development of sports infrastructure.
Funds have been allocated for the construction of high-altitude sports stadiums in Solukhumbu, Jumla, and Mustang.
Budget Allocation for Key Cricket Stadiums
The budget has allocated NPR 420 million for the construction of:
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Mulpani Cricket Stadium in Kathmandu
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Girija Prasad Koirala Stadium in Morang
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Phapla Cricket Stadium in Kailali
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Siddhartha Cricket Stadium in Rupandehi
Additionally, NPR 400 million has been allocated for the upgrading of Tribhuvan University International Cricket Stadium in Kirtipur.
The budget speech also mentioned the provision of conditional grants for acquiring created assets of the Gautam Buddha Cricket Stadium located in Chitwan.
Gautam Buddha Stadium Development and National Anti-Doping Agency
The current fiscal year’s budget includes a plan to continue the construction of Gautam Buddha International Cricket Stadium in Bharatpur with collaboration from the federal, provincial, and local governments.
The budget also allocates necessary funding for operating the National Anti-Doping Agency.
Establishment of Sports Academies in Schools
The budget includes provisions to operate Sports Academies in at least three schools in each province.
National Volunteer Identity Card Program
A new youth-targeted program is introduced to issue National Volunteer Identity Cards to youth aged 16 and above based on specific criteria.
These cardholders will be engaged in disaster rescue and various social activities.
Soft Loans for Youth
As per the budget speech, eligible youth will be able to receive loans ranging from NPR 200,000 to NPR 2 million without collateral at an interest rate of just three percent, based on certain conditions.
Cooperation with Private Sector for Sports Development
The budget also highlights collaboration with the private sector for the development of the sports sector.
