KATHMANDU, MAY 5

The economic growth of Bagmati is expected to be the highest among the seven provinces of the country in the fiscal 2021-22.

Publishing the province-level accounting report today, the Central Bureau of Statistics has projected the gross domestic product growth rate of Bagmati at 6.74 per cent, which is higher than the projected national economic growth rate of 5.4 per cent for the current fiscal at current price. It is also an improvement from the 4.58 per cent growth recorded by the province in the previous fiscal.

The economic growth rate of Gandaki is also expected to be higher than the national economic growth at 6.17 per cent and significantly higher than previous fiscal's 3.73 per cent.

The bureau has projected the lowest economic growth rate for Madhes at 4.82 per cent. It is, however, still a step up from its GDP growth of 3.77 per cent in the previous fiscal.

The economic growth of Karnali is projected at 5.47 per cent, Province 1 at 5.41 per cent, Lumbini at 5.36 per cent, and Sudurpashchim at 4.93 per cent.

The national annual GDP is estimated to be Rs 4.852 trillion at current price this fiscal, with highest contribution of the Bagmati Province at 36.9per cent or Rs 1.791 trillion. Its contribution to the national GDP in the previous fiscal was 37.7 per cent.

Province 1 will have a share of 15.7 per cent (Rs 763 billion) in the national GDP, Lumbini at 14.1 per cent (Rs 685 billion), Madhes at 13.2 per cent (Rs 644 billion), Gandaki at 8.9 per cent (Rs 432 billion), Sudurpashchim at seven per cent (Rs 339 billion), and Karnali at 4.1 per cent (Rs 198 billion).

As per the industry taxonomy, the proportion of contribution of agriculture sector to the GDP in the last fiscal and the current fiscal is the highest among all provinces, except Bagmati.

The contribution of wholesale and retail trade sector is higher in Bagmati.

Trade sector, which occupies second position at the national level in terms of its contribution to the GDP, is in the same position in Province 1, Madhes, and Lumbini. In Bagmati, the contribution of the real estate transaction and private housing services is at the second position.

The contribution of public administration and security sectors is at the second place in Gandaki, Karnali, and Sudurpaschim. The administrative subsidiary services and activities have the least contribution to the GDP of all provinces except Bagmati and Madhes.

The estimated data has been made public on the basis of statistics up to nine months of the current fiscal, the department has stated, adding that the available data suggest economic activities are gradually normalising as the effects of the coronavirus pandemic are waning.

A version of this article appears in the print on May 06, 2022 of The Himalayan Times.