Kathmandu, May 26
With the fiscal 2072-73 coming to a close, the KP Oli government has made public the economic survey covering the period.
Last year’s earthquakes and the blockade squeezed the national economy, as findings of the survey, which Finance Minister Bishnu Poudel presented in the Parliament on Thursday, show. Economic growth stood at a measly 0.77 per cent, while inflation increased by a whopping 9.7 per cent. The government had forecasted economic growth of six per cent and estimated inflation to hover around 9.5 per cent.
Contribution of the farm sector to the economic growth increased by 1.3 per cent, while that of the non-agriculture sector rose by 0.7 per cent, shows the survey. The price of beverages increased by 11.3 per cent, while the price of non-food and service sectors rose by 8.6 per cent.
In the current fiscal, revenue collection increased by 14.3 per cent and touched Rs 2.317 trillion in the second quarter.
Foreign currency reserve stands at around Rs 10 trillion, whereas balance of payment for eight months is at Rs 1.5818 trillion.
Krishna Devkota, joint-secretary at the Ministry of Finance, said decrease in contribution of the farm sector to economic growth is a matter of concern.
