Budget under capital expenditure decreased due to liability for social security: Minister Mahat

BIRATNAGAR: Finance Minister Prakash Sharan Mahat today said the budget under the capital expenditure was reduced due to increasing liability for social security. "The size of budget under the capital expenditure has been small as the liability for principal and interests of loan has increased along with that for social security," said the minister while inaugurating the 66th annual general meeting (AGM) of the Morang Trade Association in Biratnagar.  The budget under capital expenditure for the next fiscal year, 2023/24 accounted for 17.25%. The finance minister has also stressed the need to increase capital expenditures to make economic dynamic while for the government to improve the monetary and fiscal policies. The budget for the next fiscal year is pro-people as it has been prepared independently, he claimed. He said the government will focus on constructing the Ring Road in Biratnagar, and pledged its support to promote industry and trade in the metropolitan city. Similarly, former minister Minendra Rijal said Biratnagar was lagging behind without the viability of trade and industry. He also stressed the need for upgrading Biratnagar Airport to an international standard. Also, mayor of Biratnagar Metropolis Nagesh Koirala demanded that the government release budget for the local level soon. By RSS READ ALSO:

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