Budget for FY 2073/74

The recently announced budget has heavily focused on infrastructure. A lot of promise has been made. Below is the gist.

·         Reduction of load-shedding hours drastically in the next fiscal year and make power cuts a history in the next two years.

·         Storage: 4000 MW and RoR: 6000 MW in ten years time.

·         The work of Budhigandaki Hydropower Project will start within six months. Rs. 5.33 billion has been allocated for paying compensation of the land and houses.

·         Nepal Oil Corporation has to pay Rs 5 per liter on import of petrol, diesel and aviation fuels from the custom point. The collected fund will be utilized for financing Budhigandaki Hydropower Project.

·         A new model called “Energy and share for every household” will be implemented where projects will be developed under 51:49 model (51 percent government and 49 percent general public)

·         Financial resources for DPR of Tamor, Dudhkoshi, Those, Naumure, Sharada-babai, Nalasinghgad and Uttarganga will be arranged. A separate company will be established for this purpose.

·         Completion of Chameliya & Khulekhani III within a year, Upper Tamakoshi and Trishuli 3A within two years and Rasuwagadhi Hydropower in 3 years.

·         Attempts will be made to develop over 10,000 MW Karnali-Chisapani Multipurpose Project as a joint project between Nepal, India and China.

·         Efforts from Nepali side will be made for Pancheshwor Multipurpose project.

·         Expedite 400 kV Dhalkebar-Kathmandu-Hetauda and a 400 kV Hetauda-Dhalekbar-Inaruwa transmission line.

·         Priority for Mechi-Mahakali transmission line project, Karnali, Gandaki and Koshi transmission corridors.

·         Operation of National Transmission Grid Company from the beginning of the next fiscal year.

·         A different mechanism to provide consultancy service for the design and supervision of transmission line