Tag Archives: GDP

Budget focuses on economic revival, implementation challenging: Mahat

Finance Minister Dr Ram Sharan Mahat asserted that budget for the next fiscal year 2015-16 is focused on economic recovery and reconstruction but also accepted that full implementation is a challenging task. The fiscal policy will help economic recovery and

Finance minister unveils post earthquake reconstruction budget of Rs 819.47 billion

Finance Minister Dr Ram Sharan Mahat today presented a post-disaster reconstruction budget of Rs 819.47 billion for the next fiscal year 2015-16. Presentation the budget at the Legislature Parliament, Mahat said that budget for the next fiscal year is 32.6

Budget to focus on reconstruction: Finance minister Mahat

The government is focusing on reconstruction in the next fiscal year’s budget. The government is all set to prioritise economic dynamism, rehabilitation and reconstruction of quake-ravaged structures, promotion of good-governance, development of energy, and modernisation of agriculture sector in the

Rebuilding livelihoods, Building Back Better key for Nepal: ADB vice-president

Nepal needs immediate help to rebuild livelihoods after last month’s devastating earthquake but in the longer term, the country must make sure it is more resilient to future disasters, according to Asian Development Bank (ADB) vice president for Knowledge Management

Capital spending not more than 50 per cent: Minister Mahat

The government finds it challenging to spend budget rather than resource management. There are some challenges in budget spending though resource management is not a tough job,” according to Finance Minister Dr Ram Sharan Mahat. Addressing a programme jointly organised

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

IFC, FMO join hands to invest in Nepal hospitality

IFC – a member of the World Bank Group – will invest $3million in Nepal Hospitality and Hotel (NHH) to develop a three-star hotel in Thamel, Kathmandu. The investment will increase the country’s capacity in the mid-market hotel segment, create

Nepal improves in travel and tourism competitiveness index

Though, the recent tremor has scared the tourism entrepreneurs, the country has moved up ten spots to the 102nd position – among 141 economies – in travel and tourism competitiveness index, according to the Travel and Tourism Competitiveness report 2015

Mt Everest expeditions called off this season

The government today officially called off Mt Everest expeditions for the season. “We have decided to cancel Mt Everest expeditions for this year,” said director general of the Department of Tourism Tulsi Prasad Gautam. The ministry decided to call off

Economic growth to plunge

The country could not meet the downward revised target of economic growth too due to devastating earthquake that hit the country hard on April 25. The country could not even meet revised economic growth of five per cent in 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

Relief aid flowing into Nepal, rebuilding could exceed Rs 1 trillion

The country needs around Rs 1 trillion to reconstruct the damaged infrastructure in the Saturday’s devastating 7.8-magnitude earthquake. The cost to rebuild Nepal after its most devastating earthquake, in eight decades, would exceed Rs 1 trillion ($10 billion) and take

Recurrent expenditure ‘higher than tax revenue’

Tax revenue is inadequate to meet the country’s recurrent expenditure despite a surge in revenue mobilisation in recent years, according to Asian Development Bank (ADB). “The ballooning recurrent expenditure is a matter of serious concern,” said the ADB’s Macro-Economic Update

Next periodic plan to frame road-map to graduation from LDC

Finance Minister Dr Ram Sharan Mahat today said that the next periodic plan will frame policies to facilitate graduation of the country to Developing Countries from the current status of Least Developed Countries (LDCs). Addressing local development partners meeting, here

Low agricultural output to bring economic growth rate down : ADB

Lower agriculture production – due to subnormal monsoon season, and also flood – is expected to bring the economic growth down. “The possibility of lower agricultural output is is most likely to pull down GDP growth rate forcing the consumer

Government plans feasibility study for chemical fertilizer plant

The government plans feasibility study to establish a chemical fertilizer plant in Nepal. Investment Board of Nepal is inviting Expression of Interest from interested national and international parties to conduct feasibility study to establish $1 billion ammonia and urea fertilizer

Natural calamity damages 35,804 hectares paddy

Natural calamities this year damaged standing paddy and vegetables on 35,804.1 hectares in 17 districts. The flood damaged crops in Bardiya, Banke, Dang, Kanchanpur, Siraha and Rautahat that are considered the bread basket, according to spokesperson of Ministry of Agricultural

New ADB study underscores disaster prevention and climate action

Countries in Asia and the Pacific should ramp up preventive measures to avert disasters from floods, storms, droughts and heat waves, in addition to better measures in response to these events, according to a new paper from Independent Evaluation at