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.
KATHMANDU, Oct 10: The Department of Commerce, Supplies and Consumer Protection on Friday ordered the proprietor of Ian Distributor Pvt Ltd, the company involved in relabelling of various expired food items and supplying them to the market, to deposit an amount of Rs 10 million. Similarly, the market regulator slapped a one-year jail term on an Indian national involved in the scam.
KATHMANDU, Sept 24: Cooperatives played a notable role in bringing farm products from the rural to the urban areas, which helped maintain the supply and price stability of the essentials in the market, said the stakeholders of the sector.
KATHMANDU, Aug 11: The government has come up with yet another directive for the monitoring and regulation of savings and credit cooperatives at a time when the oversight agencies have been struggling to enforce the provisions made in similar other laws for the sector.
KATHMANDU, June 29: Nepal on Monday is celebrating the ‘National Paddy Day,’ the main day to mark a nationwide paddy transplantation, celebrated with the vision of making the country self-reliant in rice against the fact that the import of the staple food is surging year on year.
KATHMANDU, June 22: The import of turmeric, a spice widely used also as a homeopathic medicine, escalated by almost four-fold during the one-month period from mid-April to mid-May amid widespread threat of the coronavirus in the country.
KATHMANDU, May 29: The budget for fiscal year 2020/21 unveiled by the government on Thursday was expected to restructure the tax system largely along with revising income tax slabs to invigorate the economic activities that have been largely hit by the over two months of the nationwide lockdown.
KATHMANDU, May 28: Prioritising the agriculture sector, the government has introduced a number of farmers-focused programs through the budget for the next fiscal year 2020/21, allocating Rs 41 billion for the promotion of agricultural produce and Rs 27 billion for irrigation alone.