Government announces budget of Rs 1647.57 billion for fiscal year 2021/22

by | May 30, 2021 | News & Events

Finance Minister Bishnu Prasad Paudel on Saturday presented a budget of Rs 1647.57 billion for fiscal year 2078/79, through ordinance, which is 12 percent bigger than that for the ongoing fiscal year.

Releasing the budget for the upcoming fiscal year, Minister for Finance Bishnu Prasad Poudel allocated Rs 678.61 billion (41.2%) in recurrent expenditure, Rs 374.26 billion (22.7%) in capital expenditure and Rs 207.97 billion (12.6%) in financial management.

Similarly, Rs 386.71 billion has been allocated under the fiscal transfer to the Province and Local Levels. Under the fiscal transfer, Rs 325.74 billion has been allocated in the equalization grant while Rs 60.97 billion is for the capital expenditures.

Bagmati Province contributes highest to national GDP

by | May 28, 2021 | News & Events

Central Bureau of Statistics (CBS) released Provincial GDP for fiscal year 2077/78 on 14th May 2021. According to CBS GDP estimates are based on the preliminary and revised estimates for fiscal year 2076/77. Data regarding various economic indicators for the last 9 months of the current fiscal year are used to estimate the GDP for provinces. 

Information on effects of COVID-19 pandemic on world economy is also considered to calculate the GDP. According to the report published Bagmati Province contributes largest to national GDP followed by Province 1, Lumbini Province, Province 2, Gandaki Provine and Sudurpaschim Province. 

National GDP of Nepal is estimated to remain 4.08 percent at consumers price. Comparing to the national GDP Bagmati has highest contribution of 4.7 percent while Sudurpaschim has the lowest contribution i.e. 3.4 percent. 

Economic activities will operate in normal after 2 weeks: CBS

by | May 3, 2021 | News & Events

Central Bureau of Statistics (CBS) releases National Accounts Statistics of Nepal. 

The National Accounts Statistics (Annual estimates for 2020/21) uses 2010/11 as base year. It is published in account of the three years revision policy (Preliminary, Revised, and Final). It assumes that COVID pandemic will not affect more the economy of Nepal and all economic activities will operate in normal after two weeks. 

Nepal’s GDP Growth Rate at Purchaser’s Price is estimated to remain at 4.01 percent in the year 2020/21. It was -2.09 in the year 2019/20. 

According to National Accounts Statistics report Agriculture and fishery shares still the highest share in GDP i.e. 25.8 percent. Wholesale and retail market shares second highest GDP share i.e. 15.7 percent. 

Nominal Per Capita GDP (US dollar) is estimated to reach 1191. Where as Nominal Per Capita GNI will be 1196 US dollar.

GDP compilation in Nepal started in 1961/62, where as regular compilation started since 1964/65.