Government Announces CGT Discount for Landowners as Compensation for Acquiring Land for Kathmandu-Tarai Expressway

The government has decided to provide a discount on capital gains tax when compensating for land to be acquired for the Kathmandu-Tarai Expressway, a national pride project. As per the Cabinet decision taken on August 29, the locals who receive compensation for their land will pay a reduced capital gains tax.

Minister for Communications and Information Technology and government spokesperson, Prithvi Subba Gurung, clarified that the government took a decision to this effect under section 18 (1) of the Financial Act, 2081.

He also announced that 5.104 hectares of land from the national forest in Bidur Municipality, Nuwakot, would be allocated for the construction of the Pipaltar-Deudi roadway.

The Cabinet meeting also decided to accept a grant of Rs 3.67 billion from the EU and UNESCO for the implementation of the third phase of the Multi-Sectoral Nutrition Project. Additionally, the German government will provide Rs 1.46 billion for strengthening electricity distribution system in Nepal.

The government will cover the treatment costs for Bindabasini Kansakar, a victim of an attempted murder, as per the court's decision. The amount will be recovered from the defendant and reimbursed into the victims' relief fund.

The government appointed Joint Secretary Bharat Khanal as the Consul General in Guangzhou, Jhakka Prasad Acharya in Kolkata, and Laxmi Prasad Niraula in Lhasa. Dinesh Raj Dahal (DC) was appointed Chairman of the Film Development Board.

The Council of Ministers also granted permission to NCell Axiata Ltd to renew its license in installments for the third time. The renewal, granted under Section 20 of the Telecommunications Act, 2053, allows the company to pay Rs 5 billion in annual renewal fee in four installments, with a 10 percent interest charge.

The government appointed Home Secretary Eknarayan Aryal as the chief secretary after Chief Secretary Leela Devi Gartaula retired on August 31 due to the age limit.

The Cabinet approved the resignation of Dr Toya Narayan Gwayali, secretary at the National Planning Commission (NPC).

Additionally, the Cabinet approved the organization and management structure for the Ministry of Agriculture and Livestock, along with some temporary quotas for the Ministry of Labour, Employment, and Social Security. -- RSS