KATHMANDU, May 29: Amid growing criticism that the state will face additional financial burden due to the uncalled-for flexibility in social security allowances, the government has lowered the minimum age limit to receive old-age allowance to 68 years from the existing 70 years.
Enduring long hours of load-shedding everyday for over a decade, Nepal became free from the problem of power blackout only a couple of years ago. And today, perhaps for the first time in its history, the country produces 2150MW of electricity, against the present peak demand of around 1500 MW. This has heightened the country’s hydro hopes in terms of both domestic consumption and exporting the surplus power to neighboring India and Bangladesh – the best way to address the perennial problem of widening trade deficit.
The year 2021 was definitely not as bleak as the previous year in terms of freeing the economy from the claws of the COVID-19 pandemic. Economic activities gathered pace as the spread of the coronavirus slowed down gradually. Signs are positive but the economy could fall into a crisis if corrective measures are not implemented on time
KATHMANDU, Dec 13: Cooperatives, member-based local organizations that are supposed to work in the interest of the general public, have instead been found cheating the small savers time and again, thanks to poor monitoring by the regulator.
KATHMANDU, September 12: The government, despite its commitment to give respite to the COVID-battered economy, has introduced pork barrel programs for the pandemic-hit sectors by allocating large amounts of funds on distributive headings.
KATHMANDU, June 29: The government has sped up ‘Asare Bikas’-- the year-end rush to exhaust the money allocated for development projects -- in a bid to save it from potential criticisms that it was unable to make enough capital expenditure.
KATHMANDU, May 29: The government has unveiled a budget of Rs 1.647 trillion, introducing a number of populist programs, despite the widespread concerns from various fronts not to launch such programs at a time when midterm elections have been announced.
KATHMANDU, May 22: The ongoing political wrangling has thrown the enactment of the annual national budget into uncertainty even as the constitutionally-defined date for budget announcement, May 29, is just a week away.
KATHMANDU, Feb 9: The government has reduced the budget of the current fiscal year to Rs 1.34 trillion from Rs 1.47 trillion, citing the spread of the COVID-19 that resulted in slow expenditure and revenue mobilization during the first half of the fiscal year.
KATHMANDU, Feb 5: The Nepal Bandha called by the Dahal-Nepal faction of the ruling Nepal Communist Party (NCP) on Thursday has once again crippled the country’s economy at a time when the economic activities have slowly started to gain pace.
KATHMANDU, Jan 26: Nepal Rastra Bank (NRB) in its Current Macroeconomic report of the first five months of the current fiscal year has stated that the consumer price inflation remained 2.93 percent during the period.
KATHMANDU, Jan 3: Last week, a group of entrepreneurs took to NIC Asia Bank complaining about the unnecessary pressure given by the bank’s officials on borrowers to settle the loan amount earlier than the prescribed date of loan maturity.
KATHMANDU, Dec 9: The government has stepped up to claim the geographical indication (GI) right on Basmati paddy in the European Union (EU), in response to India seeking an approval to receive GI certification for the same from the political and economic union of 27 member countries.