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Nepal Govt. to spend over Rs 1,000 billion in fiscal budget

Kathmandu : The Nepal Government has been preparing a budget worth more than Rs 1,000 billion for the upcoming fiscal with major focus on road connectivity and energy.

The budget will be allocated to kick-start road projects in the five-year strategic plan of the Ministry of Physical Infrastructure and Transport, reports The Himalayan Times.

The Kathmandu-Nijgadh fast track project will also be accorded priority.

Another major focus of the budget will be energy sector, some hydropower projects and transmission line projects.

The government will allocate funds to clear land compensation for the 1,200MW Budhigandaki hydro project. Two other projects namely – the 300MW Dudhkoshi storage hydro project and the 700MW West Seti hydroproject – will be initiated in the coming fiscal.

Similarly, the government will do the needful through the upcoming budget to ensure early completion of under-construction hydropower projects such as Upper Tamakoshi, Chameliya, and Upper Trishuli-A.

After successful implementation of the Dhalkebar-Muzaffarpur cross-border transmission line project, the government will announce another cross-border transmission line project in Bhairahawa to boost bilateral energy cooperation with India.

The fiscal budget will announce upgradation of transmission lines, sub-stations to make them suitable for cross-border energy trade through installation of high-capacity transformers.

The government had allocated Rs 2.40 billion in the present budget and each electoral constituency had received Rs 10 million this fiscal. (ANI)