Economic Survey for FY 2023/24 tabled in upper house

Kathmandu: Finance Minister Barsha Man Pun has presented the Economic Survey of Fiscal Year 2023/24 in the meeting of the National Assembly, the upper house of the Federal Parliament, today.

Tabling the Survey in the meeting, Finance Minister Pun argued that the country’s economic and social indicators were improving. The Survey has analyzed the overall economic, social, sector-wise development and good governance of the federal, provincial and local levels during the entire period of the last fiscal year and up to eight months of the current FY.

Finance Minister Pun said, ‘It is estimated the nation’s economy will expand by 3.9 per cent owing to the growth in the agriculture and service sectors despite the contraction in the productive sector and the production in the industry and construction sectors.’

He said it is estimated that province-wise, the economic growth rate of Gandaki, Bagmati and Lumbini is estimated to remain above the national average and the total investment is likely to increase by 2.8 per cent and reach Rs. 1741 billion and 480 million in the current fiscal year.

The Finance Minister further said that the total investment is likely to increase by 2.8 per cent and reach Rs. 1741 billion and 480 million in the current fiscal year and it is estimated that the per capita income will reach 1,456 US dollars. The National Assembly will next meet at 4.15 pm on May 28.