Nepal is among the least developed nations with around one-fourth of its population living underneath the poverty line. It is heavily dependent on remittances, contributing to as much as 30 percent of GDP. Agriculture is another pillar of our economy, providing jobs to nearly 66 percent of population.
KATHMANDU, March 16: Nepal received a total of Rs 515.55 billion in the first seven months of the current Fiscal Year 2018/19. According to the 'Current Macroeconomic and Financial Situation of Nepal (Based on Seven Months' Data of 2018/19) released by the Nepal Rastra Bank (NRB) on Friday, the remittances inflow rose 28.5 percent in the review period to Rs 515.55 billion compared to an increase of 1.7 percent in the same period of the previous year.
KATHMANDU, Oct 27: Nepal could miss its target to become a 'middle-income' country by relying too heavily on remittance incomes, according to a new report prepared jointly by the Overseas Development Institute (ODI) and South Asia Watch on Trade, Economics and Environment (SAWTEE).
KATHMANDU, July 13: Lawmakers have urged the government to take carrot and stick approach for bringing remittances into the country through formal channel and discouraging informal remitting channels like hundi.