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The government has allocated Rs 57.48 billion for the Ministry of Agriculture and Livestock Development.

Presenting the budget for the fiscal year 2025/26 in the joint meeting of the Federal Parliament on Thursday, Finance Minister Bishnu Paudel said that Rs 57.48 billion has been allocated for the Ministry of Agriculture and Livestock Development.

He said that various schemes have been introduced to become self-reliant in agriculture.

The government is planning to promote Chaite paddy cultivation with an objective to become self-reliant in paddy production.

Presenting the budget for the fiscal year 2025/26 in the joint meeting of the Federal Parliament on Thursday, Finance Minister Bishnu Poudel said that Chaite paddy cultivation will be promoted and the budget has been allocated for the necessary seeds and irrigation for the same.

He said that Rs 330 million has been allocated for Chaite paddy cultivation.

Finance Minister Bishnu Paudel is presenting the budget for the fiscal year 2025/26 at the joint meeting of the Federal Parliament on Thursday.

The National Planning Commission has set a budget ceiling of approximately Rs 1, 965 billion for the upcoming fiscal year.

China successfully launched its Tianwen-2 spacecraft early Wednesday, marking its first mission to collect asteroid samples. The probe lifted off at 1:31 a.m. local time aboard a Long March 3B rocket from the Xichang Satellite Launch Center, Xinhua reported.

Tianwen-2 is headed to Kamoʻoalewa, a near-Earth asteroid about 10 million miles away. It is expected to arrive by July 2026, collect samples, and return them to Earth in November 2027.

Kamoʻoalewa, a small quasi-satellite of Earth, is estimated to be 40 to 100 meters in size. If successful, China will become the third country to return asteroid samples, after Japan and the US, according to Xinhua.

The mission reflects China’s expanding space program and long-term goal of crewed lunar exploration.

Nepal Cricket Association (CAN) has appointed South African coach Nic Pothas as a consultant coach of the Nepali national cricket team for the ICC Cricket World Cup League-2 to be held in Scotland.

Issuing a statement on Thursday, CAN has stated that Pothas has been appointed as the consultant for the national cricket team.

Previously, he was associated with the national teams of Sri Lanka, West Indies and Bangladesh.

The Nepali national men's cricket team is preparing for a triangular series under the ICC Cricket World Cup League-2.

Nepal, Scotland and the Netherlands are playing in the Triangular Series to be held in Scotland from June 2-12.

With the guidance of Pothas, the Nepal team is expected to play their best with improvement in the performance, CAN said.

It has been three years since the Covid-19 pandemic subsided, but more than 95,000 are still awaiting their promised insurance payouts. The government has yet to release over Rs 11.34bn in covid insurance claims, leaving many policyholders in limbo.

During the pandemic, around 1.75m policies were issued under the covid insurance scheme, with nearly 165,059 claims filed. While 69,765 policyholders have received payments totaling around Rs 6.58bn, the remaining 95,294 have received nothing. Insurance companies say that they are unable to make the payments because the government, which had promised to cover liabilities beyond a certain threshold, has not allocated the necessary funds. The Ministry of Finance, meanwhile, cites a lack of resources amid ongoing budget constraints.

“The covid insurance issue is a priority,” said Ambika Prasad Khanal, the spokesperson for the Ministry of Finance. “However, due to the pressure on resources, nothing can be said about insurance payout at the moment.” The finance ministry has failed to commit funds, despite repeated requests from both insurance companies and the Nepal Insurance Authority (NIA)—the insurance market regulator.

“Insurance companies have done what they could. The rest is up to the government,” said Nirmal Adhikari, spokesperson for the Nepal Insurance Authority. “We are mere coordinators; it is the government’s responsibility.”

Frustrated by the government's inaction, insurance companies and policyholders have taken the matter to the Supreme Court. They have filed lawsuits against both the NIA and the government.  The Nepal Insurers Association, the umbrella body of 14 non-life insurance companies, has said that the government has failed to honor its financial obligations.

“We were told the government would shoulder the burden beyond Rs 3.5bn,” said Chunky Kshetri, former chairperson of the association. “But after years of waiting, we have been left with no choice but to seek justice in court.” The lack of payment has not only affected individual policyholders but also had broader implications for the insurance sector, which is grappling with reduced credibility and operational challenges.

Complicating matters further are allegations of fraud. At least 669 cases of duplicate or fraudulent claims, amounting to Rs 63.9 million in irregular payouts, have been identified. However, insurance expert Rabindra Ghimire said this was largely due to the lack of strong oversight mechanisms and clear policy limits. “Insurance fraud is common all over the world, especially in health insurance,” Ghimire said. “Here, the government did not set timeframes or caps on covid insurance payouts, unlike Thailand and Singapore, which managed expectations and liabilities from the beginning.”

Thailand and Singapore limited their coverage to small amounts and set deadlines for claims which helped prevent excessive liabilities. Nepal, however, offered up to Rs 100,000 per person with no clear claim deadlines which led to overwhelming demand and a ballooning fiscal responsibility. The covid insurance scheme was launched in April 2020 with premium rates as low as Rs 300 for coverage of Rs 50,000.

Foreign Minister Arzu Rana Deuba reached Hong Kong on Thursday.

Leading a Nepali delegation, Minister Rana left for Hong Kong on Wednesday night to participate as observer in signing ceremony for the Convention on the Establishment of International Organisation for Mediation at the invitation of Wang Yi, member of the Political Bureau of CPC Central Committee, Director of the Office of the Central Commission for Foreign Affairs and Minister of Foreign Affairs of the People's Republic of China, according Minister Rana's Press Advisor, Yek Raj Pathak.

The signing ceremony is being held in Hong Kong Special Administrative Region of the People's Republic of China on May 30.

Mediation is one of the key dispute settlement methods outlined in the United Nations (UN) Charter. Co-initiated by 19 countries, including China, the organisation represents a contribution from developing countries to the international rule of law.

The delegation comprises senior officials from the Ministry of Foreign Affairs, the Consulate General of Nepal in Hong Kong.

Foreign Minister Rana will return home on May 31.

CPN (Maoist Centre) Chairman and former Prime Minister Pushpa Kamal Dahal has said that it is the duty of the true republicans to steadfastly stand in support of the federal democratic republican system and forward-looking change.

In his message of best wishes on the occasion of the Republic Day-2082 BS today, he stated that the unity among the pro-change forces is imperative to protect the republican system.

The Maoist Centre Chair said that political parties need to focus on fulfilling the task of transforming the economic, social, and cultural life of the Nepali people in accordance with the changed governance system by implementing the fundamental rights granted by the republican constitution.

"The establishment of the republic is based on the historical people's movement carried out with the conscious initiative of the Maoists and the participation of the oppressed masses, as well as the cooperation of other republican forces," he said, adding that the pro-republic forces should firmly stand in favor of the republic and the change fighting against the status quoits and retrograde activities.

Chairman Dahal has wished that Republic Day inspires the campaign to change the condition of the people by focusing on the development of republican thinking, style, and behavior, along with a strong unity and cooperation among republican forces.

On this occasion, he has paid tribute to the martyrs who sacrificed their lives in the people's war for the establishment of the republic and has expressed respect for the sacrifice and dedication of those missing and injured combatants.