Alarm­ing eco­nomic sce­nario

People's Review - - FRONT PAGE - By Our Re­porter

Nepal Ras­tra Bank, cen­tral bank of the coun­try, has pre­sented a bleak sce­nario of our econ­omy. In the first two months of the present fis­cal year, the gov­ern­ment has faced 5 bil­lion 870 mil­lion ru­pees worth neg­a­tive bal­ance of pay­ment due to rapid in­crease in im­ports, de­crease in ex­ports and de­cline in re­mit­tance money re­ceived by the gov­ern­ment. The re­mit­tance amount has de­clined to 0.7 per­cent in the last two months com­pared to last fis­cal year's 6.6 per­cent re­mit­tance. These are the symp­toms of a failed na­tion. If the gov­ern­ment fails to in­tro­duce econ­omy res­cue mea­sures, the na­tion will go bank­rupt. But the na­tion is not head­ing towards a proper course. The gov­ern­ment's devel­op­ment ex­pen­di­ture is nom­i­nal whereas as non-pro­duc­tive ex­pen­di­ture has sky­rock­eted. By in­tro­duc­ing an ex­pen­sive po­lit­i­cal struc­ture -in­tro­duc­ing large num­ber of lo­cal bod­ies, prov­inces and fed­eral par­lia­ment, the gov­ern­ment is spend­ing huge amounts for pol­i­tics alone. Fur­ther­more, bil­lions of ru­pees is needed to con­struct new struc­tures to man­age lo­cal, pro­vin­cial and cen­tral gov­ern­ment such as pro­vin­cial assem­bly houses, pro­vin­cial sec­re­tari­ats, quar­thers for chief min­is­ters and min­is­ters, ve­hi­cles and se­cu­rity for them, among oth­ers. In this way the coun­try's econ­omy is sure to be ru­ined fur­ther.

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