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Economic News

All 7 provinces present ambitious budget

By Our Reporter Provincial governments of all seven provinces presented the budget for next fiscal year 2018-19 in their respective provincial assemblies on Friday. Except for Province 4, others have presented budgets of an inflated size. Of Rs. 24.02 billion budget presented by Province 4, about 66 per cent of …

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How is the budget?

By Pushpa Raj Pradhan Something special was expected by the people from the budget presented by the strong government enjoying a two-thirds majority. They expected the promises made by the political leaders would be fulfilled and the general people would receive succor. The leaders in the government had been saying …

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Businessmen increase prices after the budget

By Our Reporter Businessmen of Nepal have again exhibited their profit-oriented nature by hiking the prices of essential commodities by citing the budget. Although the budget comes into effect only from July 17, the scrupulous businessmen, shopkeepers and middlemen have increased the prices of food and other items one and …

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Budget draws not encouraging reactions

By Our Reporter The budget presented by Finance Minister Dr Yuba Raj Khatiwada last week did not draw encouraging reactions from the business community as well as the politicians. When the main opposition party, NC, said the budget did not favour the private sector, some leaders of the ruling CPN …

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ADB forecasts Nepal’s GDP at 4.9 per cent

By Our Reporter The Asian Development Bank (ADB) has forecasted 5.5 per cent of Gross Domestic Product (GDP) growth in Nepal for the coming fiscal year 2018/19. But the bank has predicted a growth of only 4.9 per cent in the current fiscal year. The ADB  higher forecast for next …

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Japanese support for National Economic Census

By Our Reporter Finance Minister Dr. Yuba Raj Khatiwada and Japanese ambassador Masashi Ogawa attended the Unveiling of Economic Census Monument and Launching of the First National Economic Census, organized by the Central Bureau of Statistics (CBS). Yhe Japan government and Japan International Cooperation Agency (JICA) have been extending a …

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Economic health of the nation

By Pushpa Raj Pradhan Finance minister Yubraj Khatiwada has presented miserable picture of our economy. It is not a surprise that we all were aware about the down-trading economic indicators presented by the Nepal Rastra Bank. Our foreign trade was negative by many folds, remittance revenue was declining and more …

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TIA equipped with new generation radars

By Our Reporter Tribhuvan International Airport, Nepal’s only international airport, is now equipped with new generation radars ensuring air safety in the country. Japanese ambassador Masashi Ogawa expressed his happiness for the opportunity Japan has received to support Nepal for air safety of the flights. He said, Japan will continue …

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Nepal, World Bank sign three agreements

By Our Reporter The Nepal government and the World Bank signed three financing agreements for $440 million in Kathmandu to invest in the country’s post-earthquake housing reconstruction, livestock innovation, and technical education and vocational training. The agreements were signed by Finance Secretary Shankar Prasad Adhikari and World Bank Country Director …

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