What is Project Bank? How does it work?

As the budget time approaches, 8,000 new projects have been registered in the National Project Bank. Only the projects that have been 'archived' and up to standards have been included in the bank. Prakash Kumar Shrestha, a member of the National Planning Commission, said that as the process of project registration is still going on, it is not certain how many will be reached.So far, the most projects in the bank are road infrastructure. Among those registering more projects are the Ministry of Physical Infrastructure and Transport, Urban Development and Water Supply. The National Planning Commission has vacated the old projects and put new ones on the ground that the plans were not prepared and arbitrary plans were put in place. According to the 'National Project Bank Standard-2081', only new projects have been registered in the bank. According to "National Project Bank Standard-2081", projects worth less than 30 million cannot be registered in the system. Projects that are not in the bank will not be included in the budget. The commission claims that the next year's budget will not have fragmented plans like in the past. Earlier, it was decided by the Council of Ministers in December 2080 that the Union would not allocate budget for projects costing less than 3 crores. Contrary to that decision, the federal government has budgeted dozens of programs worth up to 1 lakh rupees in the current financial year. "The system has been developed in such a way that projects worth less than 30 million cannot be kept at the time of entry into the project bank," Shrestha said, "Now the union government should implement only big projects." "Provincial government and some municipalities have also started the project bank system, but the situation is still in the learning stage as it cannot be implemented effectively," Shrestha said, "If the bank could be managed at three levels, there would be no duplication in projects, and we would know what is happening at which level." Watch the video content prepared by Kantipur on what is a project bank and how it reduces and why the practice of such a concept is needed.

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So far, the most projects in the bank are road infrastructure. Among those registering more projects are the Ministry of Physical Infrastructure and Transport, Urban Development and Water Supply . The National Planning Commission has vacated the old projects and put new ones on the ground that the plans were not prepared and arbitrary plans were put in place. According to the 'National Project Bank Standard-2081', only new projects have been registered in the bank. According to "National Project Bank Standard-2081", projects worth less than 30 million cannot be registered in the system. Projects that are not in the bank will not be included in the budget. The commission claims that the next year's budget will not have fragmented plans like in the past. Earlier, it was decided by the Council of Ministers in December 2080 that the Union would not allocate budget for projects costing less than 3 crores. Contrary to that decision, the federal government has budgeted dozens of programs worth up to 1 lakh rupees in the current financial year. "The system has been developed in such a way that projects worth less than 30 million cannot be kept at the time of entry into the project bank," Shrestha said, "Now the union government should implement only big projects." "Provincial government and some municipalities have also started the project bank system, but the situation is still in the learning stage as it cannot be implemented effectively," Shrestha said, "If the bank could be managed at three levels, there would be no duplication in projects, and we would know what is happening at which level." Watch the video content prepared by Kantipur on what is a project bank and how it reduces and why the practice of such a concept is needed.