Kathmandu: The government has allocated Rs 118.34 billion for the Ministry of Urban Development for the upcoming fiscal year. Presenting the budget for the fiscal year 2025/026 in a joint session of the federal parliament on Thursday, Deputy Prime Minister and Finance Minister Bishnu Paudel announced this significant allocation. The budget aims to ensure the constitutional right to safe housing, link urban development with increased production, business expansion, and create employment opportunities.
According to National News Agency Nepal, the government plans to guarantee citizens’ access to land acquisition and finance for integrated housing development. The private sector will establish and run collective and integrated housing projects. A feasibility study will also be conducted to establish smart cities and eco-villages, aiming to relocate scattered and at-risk settlements to safer areas while promoting their original form. The budget includes provisions for preservation and infrastructure development in 50 different settlements.
The government will adopt a public-private partnership model to develop well-managed cities. A land development project will be implemented across the four outskirts of the Kathmandu Valley: east, west, south, and north. Additionally, the concept of a utility corridor will be enforced to improve the quality of basic services and enhance the beautification of major cities in the Kathmandu Valley.
Furthermore, an international standard exhibition center will be established at Bhrikutimandap in Kathmandu. The Bhanu Literary Garden at Chundiramgh of Tanahu will also be upgraded. Other developments include the construction of Jaharsingpauwa stadium and Ganeshman Singh Park in Shankharapur, Kathmandu.