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Alarming economic scenario

By Our Reporter
Nepal Rastra Bank, central bank of the country, has presented a bleak scenario of our economy.
In the first two months of the present fiscal year, the government has faced 5 billion 870 million rupees worth negative balance of payment due to rapid increase in imports, decrease in exports and decline in remittance money received by the government.
The remittance amount has declined to 0.7 percent in the last two months compared to last fiscal year’s 6.6 percent remittance.
These are the symptoms of a failed nation. If the government fails to introduce economy rescue measures, the nation will go bankrupt. But the nation is not heading towards a proper course. The government’s development expenditure is nominal whereas as non-productive expenditure has skyrocketed. By introducing an expensive political structure — introducing large number of local bodies, provinces and federal parliament, the government is spending huge amounts for politics alone. Furthermore, billions of rupees is needed to construct new structures to manage local, provincial and central government such as provincial assembly houses, provincial secretariats, quarthers for chief ministers and ministers, vehicles and security for them, among others. In this way the country’s economy is sure to be ruined further.

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