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Foreign Secretary Sewa Lamsal on Tuesday paid a courtesy call on UN Secretary-General Antonio Guterres in New York, the United States.

The Nepal Mission to the UN in New York stated that discussions were held on the Nepal-UN partnership, Nepal's graduation from the LDC category, UN's contribution to Nepal's development efforts, issues related to climate change and the importance of effective multilateralism, among others.

Foreign Secretary Lamsal is in the US to attend the General Debate of the Fourth International Conference on Small Island Developing States (SIDS) on behalf of the groups of LDCs.

Likewise, Secretary Lamsal congratulated SIDS for adopting an ambitious and action-oriented blueprint and expressed LDC's solidarity with SIDS.

She underlined the high cost paid by the countries in special situations due to climate change and urged the international community to support them, according to the Nepal Mission to the UN in New York.

The price of gold has increased by Rs 600 per tola in the domestic market on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 138, 200 per tola today. It was traded at Rs 137, 600 per tola on Tuesday.

Similarly, tejabi gold is being traded at Rs 137, 550 per tola. It was traded at Rs 136,950 per tola.

Similarly, the silver is being traded at Rs 1,930 per tola today.  

The Federation of Nepalese Journalist Panchthar District Chapter organized a one-day Media Conference in Phidim on Tuesday.

Local politicians, government officials, civil society members and journalists attended the program.

Dr Suresh Acharya, prominent journalist and former chair of FNJ was honored with the Press Freedom Fighter title.

There were two panel discussions, one on local journalism and another on the future of journalism.

FNJ Pancthar District Chapter Chief Giri Raj Banskota said the chapter will organize such events in the future also.

The government is to allocate Rs 567 billion to the provincial and local governments (PLGs) in the coming fiscal year 2024/25.

This will be made through fiscal transfer and revenue sharing from the federal budget.

 According to the budget statement read out by Finance Minister Barshman Pun in the Parliament today, the government has allocated Rs 60 billion for the provinces and Rs 88 billion for the local level towards the fiscal equalization grants on the recommendation of the National Natural Resources and Fiscal Commission (NNFRC).

Likewise, a conditional grant worth Rs25.84 billion has been earmarked for the provinces and Rs.28.88 billion for the local level.

The government has allocated Rs 6.2 billion to the province and Rs 7 billion to the local level towards supplementary grants. In addition, 4.4 billion rupees have been allocated for the province and 8.5 billion rupees for the local level as a special grant.

Finance Minister Pun noted that arrangements will be made to transfer conditional, supplementary and special grants based on performance.

The government estimates that 159 billion rupees will be transferred to the provincial and local levels as part of revenue sharing.

The government has announced that it would allocate Rs 590 million for the information technology sector.

 Finance Minister Barshaman Pun announced the allocation of Rs 590 million for the information technology sector while presenting the annual budget for the fiscal year 2024/25 in the federal Parliament on Tuesday.

He said that an action plan will be made to provide employment to 500,000 people directly and one million indirectly in the information technology sector.

Minister Pun said that a high-speed internet will be provided to the people.

The government has set five strategies and five priorities of the budget and outlined five strategies for economic reforms in the upcoming fiscal years.

Presenting the budget for the upcoming fiscal year 2024/25 in the federal Parliament on Tuesday, Finance Minister Barshaman Pun said that increasing production, productivity, and employment, securing investment and growth and accelerating economic activities by boosting the morale of the private sector, achieving the human resource development, alleviating economic disparities and poverty through the balanced and just mobilization of resources and increasing the effectiveness of the public service delivery have been presented as the five objectives of the budget for the new fiscal year. 

Similarly, economic reforms and the encouragement of the private sector, construction of industrial infrastructure such as agricultural energy information technology, development of education, health-like social sector, promotion of inclusion, social security, and good governance, and the enhancement of public service system are cited as the five priorities of the government for the upcoming fiscal year.

Structural reforms, improvement in the business environment, reforms in the public finance system, financial sector reforms, and reforms in public administration are mentioned as the five strategies for economic reforms.

He said that a high-level task force will be formed to provide submissions to the government for structural reforms of the economy.

Likewise, the government pledged to enact favorable policies, complete country rating, and eliminate dual taxation to promote an environment conducive for business in the country.

The government is to allow the commercial cultivation of marijuana for medicinal purposes.

Presenting the annual budget for the fiscal year 2024/25 in the joint meeting of the federal Parliament on Tuesday afternoon, Finance Minister Barshaman Pun announced that a law would be formulated to allow the commercial cultivation of marijuana for medicinal purposes.

It was announced in the previous budget also that a law would be formulated for marijuana farming.

Earlier, lawmaker Sher Bahadur Tamang had registered a bill related to marijuana farming.

The government has taken a new strategy to promote religious places.

Presenting the annual budget for the upcoming fiscal year 2024/25 in the federal Parliament on Tuesday, Finance Minister Barshaman Pun said that the government is to operate transport services from the Nepal-India border to visit Pashupatinath, Swargadwari, and Muktinath temple.

He said that the budget has been arranged to promote tourism.