Stories By 'UDAYAN REGMI'
The recent Monetary Policy (MP) endorsed by the Rastra Bank aims to maintain a low and stable inflation rate and achieve a long term Gross Domestic Product (GDP) growth rate.
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It has been more than 100 days since Nirmala Pant’s lifeless body was found in a sugarcane field in Bhimdattanagar, Kanchanpur, but it seems as though nothing has changed.
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Government policy should uphold consumer satisfaction and not help the formation of cartels
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Nepal’s banking sector is currently facing a shortage of loanable funds. The possible reasons for this situation are large investments in unproductive sectors and money earmarked for government expenditure resting in banks. Government transactions are conducted through Nepal Rastra Bank and two other government banks. Most of the money received from tax collection and the funds and budgets allocated for line ministries and local bodies are parked in the non-private sector as they are unspent. A common government practice is to keep the money piled up until the end of the fiscal year, and then spend it hurriedly.
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Nepali migrant workers have spread out across the world over the decades, and the money they send back home has become a mainstay of the economy. The number of countries open to foreign employment has increased to 109, and remittance inflow has been swelling over the years.
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Agriculture is the mainstay of Nepal’s economy which accounts for a large portion of the GDP and provides employment to two-thirds of the population.
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