Govt allocates Rs 118.34bn for urban development, prioritises safe housing

KATHMANDU: The government has allocated Rs 118.34 billion for the Ministry of Urban Development (MoUD) for the upcoming fiscal year.

Presenting the budget for fiscal year 2025/26 at the joint session of the Federal Parliament on Thursday, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel made the announcement. According to the budget announcement, the government will ensure the constitutional right to safe housing for citizens, linking urban development with increased production, business expansion and employment opportunities.

"Citizens' access to land acquisition and finance will be guaranteed for the development of integrated housing. Collective and integrated housing will be established and run by the private sector," Minister Paudel said, adding that a feasibility study will be conducted for the establishment of smart cities and eco-villages.

Similarly, settlements that are scattered and at risk of natural disaster will be relocated to safer places. The original form of the settlements will be promoted, he said, with budget allocated for preservation and infrastructure building at 50 settlements.

Public-private partnership will be adopted to develop well-managed cities. A 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 a utility corridor will be enforced by increasing the quality of basic services and the beautification of the major cities in the Kathmandu Valley.

An exhibition centre of international standard will be established at Bhrikutimandap, Kathmandu, while the Bhanu Literary Garden at Chundiramgha in Tanahun district will be upgraded. Similarly, there will be a Jaharsingpauwa stadium and Ganeshman Singh Park at Shankharapur, Kathmandu.

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