Province 3 way ahead in economic, social indicators: Report

Published On: June 15, 2018 03:30 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, June 15: Province 3 has the highest per capita income with people here earning an average US$ 1,534 annually while Province 7 has the lowest per capita income of $660, shows a recent statistics prepared by Nepal Rastra Bank (NRB).

According to a province-wise profile prepared by the Nepal Rastra Bank (NRB), Province 2 comes second in terms of per capital income. People in the province earn an average of $1,024 annually. Similarly, with per capital income of $1,021, Province 4 has the third highest per capital income among seven provinces in the country.

The disparity between the first three and remaining four provinces in terms of per capital income is huge, shows the profile prepared by the NRB by compiling the data of Central Bureau of Statistics and Human Development Index, 2014.

Province 5 has the fifth highest per capita income of $868, followed by Province 2 ($799) and Karnali province ($677).

Toward the share of province in Gross Domestic Product (GDP), Province 3 again tops the list. Province 3 has a share of 31.9 percent in total GDP of the country. Province 1 comes distant second with contribution of 17.5 percent in the country's total economic output. Province 2 has 16.2 percent share in the country's total GDP with total contribution of Rs 3,007.25 billion, while Province 5 is fourth with 13.4 percent share. Province 4 has a share of 10.5 percent in GDP, while Karnali and Province 7 are sixth and seventh on the list with a share of 4.1 percent and 6.3 percent, respectively.

Province 3 is ahead of other provinces in terms of industries. The data based on the National Census of Manufacturing Establishments-2011/12 shows that there are 965 industries in the province out of 4,076 all over the country. Karnali has only 44 industries.

The concentration of banking services is also the highest in Province 3.

Province 3 has the highest number of bank branches while Karnali has the lowest. According to the data, there are 1,263 branch offices of BFIs in Province 3, compared to a meager 113 branch offices in Karnali Province.

Not only bank branches, deposit and loan mobilization of BFIs is also highest in Province 3. The data shows that deposit mobilization in Province 3 accounts for 72 percent of total deposit, while 57 percent of the total credit of BFIs has been extended in this province. Karnali has only 1 percent share in deposit and loan mobilization.

According to the data, Province 3 has the largest road network i.e. 17,223 km compared to Karnali Province (3,661 km), which has the smallest.

Province 3 fares better than other six provinces in terms of social indicators. It has one of the lowest poverty rates, while access to energy, sanitation and drinking water is also better in this province compared to other provinces, according to the report.

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