29th May 20224, Kathmandu
The government has designated the upcoming financial year as the inaugural year of the “Information Technology Decade.”
Government Billion IT Exports
This ambitious initiative aims to propel the country’s IT sector into a major global player over the next ten years.
Key Announcements and Goals
On Tuesday, during the presentation of the budget at the joint meeting of the Federal Parliament, Finance Minister Barshman Pun outlined the government’s strategic vision for the IT sector. He announced a target to achieve $30 billion in IT exports within the next decade. This monumental goal is part of a broader plan to transform the nation’s economic landscape through digital innovation and technology-driven growth.
Employment Generation
To support this vision, the government aims to create significant employment opportunities within the IT sector. The targets include:
Direct Employment: Creation of 500,000 direct jobs in the IT industry.
Indirect Employment: Generation of 1 million indirect jobs through the growth of ancillary industries and services related to IT.
Budget Allocations for IT Development
To facilitate these ambitious goals, several key budget allocations have been made:
Digital Nepal Framework: The government has allocated Rs 59 crore to support the Digital Nepal Framework. This framework is a comprehensive plan designed to integrate digital technology into all aspects of governance, business, and daily life, promoting a robust digital economy.
Knowledge Park in Khumaltar:
An allocation of Rs 17 crore has been designated for the establishment of a knowledge park in Khumaltar, Lalitpur. This park aims to serve as a hub for research, innovation, and knowledge-sharing, fostering an environment conducive to technological advancement and entrepreneurship.
Strategic Importance
The focus on the IT sector underscores the government’s commitment to modernizing the economy and positioning the country as a competitive player in the global tech market.
By investing in infrastructure, skill development, and innovation, the government is laying the groundwork for sustainable economic growth driven by technology.
The government’s bold vision for the IT sector, supported by substantial budget allocations, marks a significant step towards achieving economic transformation through digital innovation.
With clear targets for exports and employment, the next decade promises to be a transformative period for the country’s IT landscape. As the nation embarks on this ambitious journey, concerted efforts in policy-making, investment, and infrastructure development will be crucial in realizing the full potential of the IT sector.
This strategic focus not only aims to boost the economy but also to elevate the country’s position in the global IT arena, ensuring long-term prosperity and technological leadership.
For more details: Government Billion IT Exports
