Govt planning to spend Rs 323 b on development projects

The incumbent government has planned to earmark Rs 323 billion as development budget for the next three years.

The estimate has been outlined in the draft of the three-year strategy paper to be presented at the Nepal Development Forum (NDF) meeting to be held from May 12 to 14.

The NDF draft has also proposed to spend Rs 836 billion for the next three years to foster peace, prosperity and justice in the country.

Of the Rs 823 billion, the government has allocated 53.58 per cent i.e Rs 448 billion for general expenditure.

The National Planning Commission (NPC) recently organised three consultation meetings in Biratnagar, Nepalgunj and Pokhara in its bid to collect suggestions for the draft.

It is also holding consultation meetings in Kathmandu and in Dhangadhi.

The government has forecasted a 7.6 per cent average gross domestic product (GDP) growth rate for the next three fiscal years from FY 2009-10 to 2011-12. nepalnews.com nd Apr 15 09