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Earthquake pushes one million Nepalis down poverty line

The devastating earthquake of 7.8-magnitude on April 25 and susbquent aftershocks has pushed an estimated one million people below poverty line. Presenting the findings of the Post-Disaster Needs Assessment (PDNA) report here today National Planning Commission vice chair Dr Govinda

Government warns of stern action, if house owners hike rent

The government has warned stern action against houseowners, who hike rent taking undue advantage in the aftermath of the 7.8-magnitude devastating earthquake of April 25. Issuing a statement – after complaints that some landlords were increasing house rent after the

ADB downgrades economic growth due to earthquake

The country might see the economic growth to plunge to between three per cent and 3.5 per cent, according to the Asian Development Bank (ADB). Though, estimating the exact economic cost will be an ongoing process, the initial estimation shows

Paddy output to fall 18 per cent due to natural disasters

Paddy output is likely to drop at least by 18 per cent due to landslide and floods, according to the Department of Agriculture. The drop in paddy output – one of the major contributor to the agriculture sector that has

Per capita income Rs 71‚305; GDP growth 5.12 per cent

Though the average economic growth rate has not crossed four per cent in the last one decade, per capita income of a Nepali has been continuously increasing. Average income of a Nepali is expected to grow by 13.77 per cent

House construction, living cost up; industrial production down

Constructing a house or living cost has been increasing due to rise in prices of construction materials and daily essential products, according to a survey. Most of the industrial products – from daily consumable to the luxury products and construction

Contract farming guideline on cards

Ministry of Agriculture Development is introducing — Contract Farming Guideline under the Agricultural Business Promotion Act and Farm Mechanisation Policy — soon to promote sustainable agriculture growth. The draft policy paper is expected to commercialise agriculture that is at present

CBS to conduct Multiple Indicator Survey from February 21

Central Bureau of Statistics (CBS) is carrying out Nepal Multiple Indicator Cluster Survey-2014 on the condition of women and children in the country from February 21. The survey to be carried out in support with UNICEF will collect data of

Unemployment rate in Nepal to increase: ILO

The International Labour Organisation (ILO) has projected unemployment rate to increase in Nepal. The unemployment rate that stood at 2.69 per cent in 2013 is projected to increase to 2.71 per cent in the year 2014 and 2.72 per cent

Borrowing habit of farmers less, farmland fragmented more in a decade

Surprisingly, borrowing habit and market access of the farmers seem very discouraging, average holding size has decreased and migration of male for employment has forced more female in agriculture in last one decade. “Over half of the agriculture households do

World Bank approves financing for rural transport, irrigation

The World Bank has approved $150 million in financing for two projects designed to help improve connectivity and raise agricultural productivity across rural Nepal. The Project for Strengthening the National Rural Transport Programme intends to enhance the availability and reliability

Central bank to issue Rs 250 million worth Foreign Employment Bond

The central bank is issuing Foreign Employment Bond worth Rs 250 million from tomorrow. The five-year Foreign Employment Bond ‘A’ is targeted to sell migrant Nepali workers and mobilise the remittance in the productive sector, according to the central bank

Nepalis consume Rs 12.60 million worth petroleum products in an hour

Nepalis consume Rs 12.60 million worth petroleum products per hour – which is around Rs 2 million more – from a year ago, when they used to consume around Rs 10.97 million worth fuel per hour. The consumption-led economy has