Government's economic survey

KATHMANDU, May 28: The government has announced the economic survey for the fiscal year 2079/80. Finance Minister Dr. Prakash Sharan Mahat announced the economic survey in the House of Representatives meeting held on Sunday.

In the economic survey, it has been stated that it is assumed the economic growth rate will decrease in the fiscal year 2079/80. Nepal's estimated economic growth in the fiscal year 2079-80 is 2.16 percent at basic prices. Due to the increase in energy production, the government also estimates that the production of electricity, gas, steam and air conditioning will expand by 19.0 percent. In the last fiscal year, Nepal's economic growth was 5.26 percent at basic prices.

The growth rate is assumed to be the highest in Gandaki Province at 3.74 percent and lowest in Bagmati Province at 1.80 percent in the current fiscal year.

Similarly, the growth rate of the Agriculture sector is assumed to increase in the current fiscal year.

The government has said that the contribution of the agricultural sector in the Gross Domestic Product(GDP) is gradually decreasing and the contribution of the service sector is increasing since the previous years. The contribution of the industry sector has remained almost constant. The government estimates that the contribution of agriculture, industry and service sector to the current fiscal year's gross domestic product will be 24.1 percent, 13.5 percent and 62.4 percent respectively.