Government Unveils ‘Growth Pole’ Strategy to Drive Balanced Regional Development
The government has given top priority to regional balanced development, agricultural revival, tourism promotion and investment-friendly environment through the budget of the next financial year.
Presenting the budget for the fiscal year 2026/27 at the joint meeting of the Federal Parliament today, Finance Minister Dr Swarnim Wagle has put forward the policy of developing rural and urban areas with high potential for economic growth as 'Growth Pole' and 'Quad'. In the budget, arrangements have been made to develop the Mid-Madhes quadrangle focusing on agriculture and industry based on the area of 122,000 hectares that will be irrigated through the Sunkosi-Marin diversion irrigation project.
After completing the remaining works of postal and east-west highway expansion, the plan to develop the area as a centre of production and industrial activity has been put forward through the budget. It has been mentioned in the budget that tax incentives will be given to herbal, hydropower, tourism and mining activities by covering Mid-Hill Pushpalal Highway, Karnali Highway, Bheri Corridor and Rara-Jumla-Phoksundo area.
The Siddhartha Highway will be upgraded to develop the Kaligandaki Civilization Area as a pilgrimage and clean enterprise-focused 'Gandaki Quadrilateral'.
A plan has been announced to build a 'Shaligram Path (route)' covering Trivenidham, Devghat, Rurukshetra, Kagbeni, Muktinath and Damodarkund. A new tourism route linking Lumbini-Muktinath religious and cultural route with meditation, yoga, Buddhist-Vedic philosophy and Himalayan cultural tourism has been announced in the budget.
The Finance Minister announced that the 'Investment Express' concept will be implemented to promote investment and the 'Single Route System' will be implemented within the next three months.
Company registration, tax, labor, visa application and other services will be integrated to provide easy services to investors. Projects approved by the Investment Board of Nepal need not be re-approved by other bodies.
