Government marks one year with notable economic progress

July 14, Kathmandu: The Government is celebrating its first year in office with significant strides in the economic sector.

Speaking on the anniversary, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel highlighted the creation of an investment-friendly environment and accelerated legal reforms to boost the economy.

Despite challenges in revenue collection, increasing capital expenditure, and exiting the FATF grey list, the government formed a high-level economic reforms commission to drive actionable changes. The private sector’s grievances are being actively addressed, fostering greater confidence.

The economy grew by 4.61% this fiscal year, up from 3.87% last year, with the national economy expanding by Rs 4 trillion. Revenue collection rose by Rs 197 billion, and remittances surged by 15.5% to Rs 1,532 billion. Over Rs 30 billion in past liabilities were cleared, and multi-year contract processes were streamlined to support development.