Ministry of Urban Development Reports 58.24 Percent Financial Progress in FY 2022/23
August 29, 2023 | Investopaper
The Ministry of Urban Development has unveiled a financial progress report indicating an achievement rate of 58.24% for the Fiscal Year 2022/23. In accordance with the ministry’s data, out of the total budget allocation amounting to Rs 59.97 billion for the fiscal year, an expenditure of Rs 34.94 billion has been realized.
This financial accomplishment reflects a marginal decline compared to the previous fiscal year, 2021/22, during which a higher financial attainment of 70.12% was attained. In a detailed breakdown of the progress attained across a spectrum of projects, the federal project implementation unit based in Dhanusha emerges as a frontrunner, boasting the highest progress rate. On the other end of the spectrum, the project implementation unit in Kailali recorded the least advancement. Prominent percentages of progress in projects specializing in intensive urban and building construction include 91.79% in Dhanusha, 82.61% in Jhapa, and 75.81% in Jumla, among other noteworthy figures.
The Ministry of Urban Development also reported a range of progress levels concerning diverse projects and initiatives spanning different regions. Key focal points that experienced remarkable advancements encompass the Nepal-India Border Integrated Check Post Development Project (74.27%), urban government capacity development (50.47%), and the new city project (67.08%). Furthermore, strides were observed in projects such as the regional urban development program (49.04%), the integrated settlement development program (54.50%), and the special building construction project (59.77%), all of which showcased substantial progress.