Kathmandu: Government of Nepal aims to epxand the coverage of insurance. It aims to bring one third of the total population under the protection of insurance.
Till date there is merely 24 percent of total population under insurance coverage.
As per the budget statement of FY 2078/79,public infrastructure and government buildings will be brought under the protection of insurance. As per finance minister Mr. Bishnu Prasad Paudel for private residence, upto Rupees five thousand can be deducted for income tax calculation.
There was tax exemption for life insurance policy premium only.Upto Rupees twenty thousand can be deducted against life insurance premium for income tax calculation.