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Madhesh Province's economic growth rate is projected to remain weak in the current fiscal year, with preliminary estimates indicating a contribution of 13.1 percent to the national GDP. This slowdown is attributed to the negative impact of insufficient rainfall on paddy, fishery, and forestry sectors, leading to a decline in agricultural output for two consecutive years, according to the National Statistics Office.
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Nepal Rastra Bank Publishes Daily Foreign Exchange Rates
Nepal Rastra Bank has published the foreign exchange rates for various currencies, including the US dollar, Euro, and British Pound Sterling. The central bank sets these rates daily, which can be revised as needed and may differ from those offered by commercial banks.
Pharmaceutical Producers Demand Government Curb Foreign Medicine Imports
The Association of Pharmaceutical Producers of Nepal (APPON) has urged the government to curb the import of foreign medicines, particularly those already produced domestically. APPON argues that Nepal is self-sufficient in various medicines and suggests importing only raw materials to protect national industries facing competition from cheaper foreign products.
MP Anushka Shrestha Demands Mandatory Sale of Nepali Goods at Tribhuvan International Airport
Ruling Rastriya Swatantra Party MP Anushka Shrestha has called for the mandatory sale of Nepali goods at Tribhuvan International Airport to promote Nepali identity and entrepreneurs. She emphasized that the airport should be utilized to showcase domestic industries and indigenous products to departing passengers.
Government Finalizes Fiscal Year 2083/84 Budget with Focus on Economic Reform and Private Sector Growth
The Nepali government is finalizing the budget for fiscal year 2083/84, set to be presented by Jestha 15, with a strong emphasis on fostering a private sector-friendly investment environment and implementing economic reforms. Key policy priorities include reducing acquisition and tax-related hurdles, enhancing the one-door service system, and increasing investment in industrial infrastructure to lower costs. The Finance Minister has described the upcoming budget as the commencement of a new, transformative phase of economic reform.
