Government Focuses on Expanding Middle Class in New Budget

The Nepali government's focus on expanding the middle class in its new budget, emphasizing education, health, skills, and social security, has sparked interest and debate. While some experts view this as a rebranding of poverty reduction efforts, others see it as a strategy to boost economic demand. Concerns exist about increased imports and pressure on foreign exchange reserves if domestic production doesn't keep pace, with experts suggesting industrialization as a more sustainable long-term path than relying on remittances and the service sector.