Rs 118.34 billion allocated for Ministry of Urban Development

Kathmandu: The government has allocated Rs 118.34 billion for the Ministry of Urban Development for the coming fiscal year.

Presenting the budget for fiscal year 2025/026 in the joint session of the federal parliament on Thursday, Deputy Prime Minister and Finance Minister Bishnu Paudel made such an announcement.

As per the budget announcement, the government will ensure the constitutional right of safe housing to citizens, link urban development with production increase, business expansion and employment opportunities.

‘Citizens’ access to land acquisition and finance would be guaranteed for the development of integrated housing. The collective and integrated housing would be established and run by the private sector,’ Paudel said, adding that a feasibility study would be conducted for the establishment of smart cities and eco-villages.

Similarly, the settlements which are scattered and at risk will be relocated to safer places. The original form of the settlements would be promoted, he said, allocating a budget for preservation and infrastructure building at 50 settlements. Public-private partnership would be adopted to develop well-managed cities.

The land development project will be run in the four outskirts of the Kathmandu Valley (east, west, south and north), Minister Paudel shared. The concept of the utility corridor would be enforced by increasing the quality of basic services and beautification of the major cities in the Kathmandu Valley.

An exhibition centre of international standard would be established at Bhrikutimandap, Kathmandu, while the Bhanu Literary Garden at Chundiramgh of Tanahu will be upgraded. Similarly, there will be the Jaharsingpauwa stadium and Ganeshman Singh Park at Shankharapur, Kathmandu.

RSS