February 22, 2024, Thursday
Nepal 1:37:26 pm

‘Capital budget reduced due to growing liability for social security’

The Nepal Weekly
June 20, 2023

Finance Minister Dr. Prakash Sharan Mahat has claimed that the budget allocated for capital expenditure has been reduced due to the growing liability for social security. 

Speaking at the 66th annual general meeting of the Morang Trade Association, the minister said that the budget for the upcoming fiscal year, 2023/24, accounts for 17.25 percent.

Furthermore, the minister underscored the importance of increasing capital expenditures to foster a dynamic economy and urged the government to enhance monetary and fiscal policies. The upcoming fiscal year’s budget is pro-people and has been prepared independently, claimed Mahat.

Addressing the issue of Biratnagar’s development, minister Mahat pledged government support for the construction of the Ring Road in the city and expressed a commitment to promoting industry and trade.

Prem Chalaune arrested and released

Police on Monday briefly detained Prem Chalaune, an assistant professor of Tribhuvan University, while he was preparing to stage a fast-unto-death at Kathmandu District Court.

Chalaune had reached the court to start the hunger strike to protest against the government’s decision to withdraw a case against student leaders of the Nepal Students Union who allegedly attacked him three years ago.

The assistant professor was attacked with an iron rod by a group of students associated with the student wing of the Nepali Congress at the university premises in October 2020. Chalaune had sustained serious injuries in his head, chest, neck and thigh.

Police had lodged the case charging five student leaders including Hari Acharya and Yogendra Rawal.

A recent Cabinet meeting had decided to withdraw the case sub-judiced at the court. The Kathmandu District Attorney’s Office registered an application at the court on Sunday for the implementation of the Cabinet decision.

The court was set to deliver a verdict on Tuesday, claimed Chalaune.

“I am starting a hunger strike at the court from tomorrow,” Chalaune had said on Sunday.

“I have lost faith in the government as the state has turned against me.” He was released later in the evening.