"Earlier, the government used to allocate budget to projects that had no detail and/or had not carried out any study but this year we will try to avoid that," Mahat said, saying such allocations had been based on nepotism.
Blaming the haphazard allocation of the budget as the main reason behind residual capital expenditure and the development budget, Mahat said this year's budget would be allocated to those projects which had carried out studies and were ready for implementation.
"The budget is not only there as a speech. It is there to be implemented and hence the government will be providing budget for such programs that can be implemented soon," Mahat said.
Mahat also said this year the government would provide the full budget required for the construction of ongoing infrastructure development projects. Mahat said the government was ready to provide a full budget to ongoing projects of national priority already approved by the National Planning Commission.
Work on infrastructure development is going at full pace, Mahat said, adding that the government had given priority to road construction, hydropower, airport construction and drinking water supply projects.
Representatives of different chapters of FNCCI asked Mahat to focus on development of the Buddhist circuit, promotion of herbal products, management of various custom points and ensuring that infrastructure development projects completed in time.
Mahat also said the government was focusing on additional reform programs for this year, based on the past learning. "Different economic and financial acts need to be formulated and many have to be reformed so that economic reforms can be ensured," Mahat said, adding that the country should now focus on encouraging innovation and creativity that would lead to economic reform.
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