Foex reserves reach Rs 166b Kathmandu, November 27:Gross foreign exchange reserves in the first two months of the current fiscal year 2006-07 has increased by 0.5 per cent and reached Rs 166 billion, informed governor of Nepal Rastra Bank (NRB), Bijay Nath Bhattarai while talking... 27 Nov, 2006
Gurung for caution in taking loans Kathmandu, October 20:CPN-Maoists leader Dev Gurung has underlined the need to put an end to the trend of taking foreign loans in rampant and irregular manner. He said: “We Nepalis should accept such loan only in case of genuine... Horoscopes 21 Oct, 2006
Maoist leader outlines roadmap to nationalise ‘illegally gained’ assets Kathmandu, October 20:Dev Gurung, central committee leader of CPN (Maoist) today disclosed that Maoists have an economic policy to nationalise properties of people who have acquired them through illegal means while in power. There is a need to use the... 20 Oct, 2006
Budget deficit widens by over 32 per cent Kathmandu, October 6:Budget deficit of the government, excluding local authorities’ accounts widened, by 32.9 per cent in 2005-06 compared to a growth of only 12.9 per cent in the previous fiscal. The higher rate of growth in budget deficit was due... 06 Oct, 2006
BIZ BRIEFS Indian debt at $125.2b :NEW DELHI: India’s external debt rose to $125.2 billion through the past fiscal year ended in March, but the borrowings remain well within limits, the government said on Monday. The Finance Ministry said India added $2 billion... 11 Sep, 2006
The fright The preliminary figures prepared by the Financial Comptroller General’s Office clearly show that Nepal is in danger of entering into a ‘debt trapped economy’ soon. As of July 2006, Nepal’s outstanding foreign debt stands at more than Rs. 234... 07 Sep, 2006
‘LDCs must enhance productive capacity’ Kathmandu, July 21:Channelling a higher portion of aid into the productive sectors and into upgradation of infrastructure such as upgrading roads, ports and electricity supplies, improving domestic financial system and upgrading technological support... 21 Jul, 2006
NRB MACRO-ECONOMIC SURVEY: Trade deficit increases by 25.3 per cent Kathmandu, July 20:Due to a higher rate of growth in imports against a slower pace of exports, trade deficit during the first 10 months of the fiscal year 2005-06 rose by 25.3 per cent compared to the same period during the previous fiscal. Nepal had... 20 Jul, 2006
‘Budget sets out to satisfy all sectors’ Kathmandu, July 17:At a time when the question of longevity of the current seven party alliance (SPA) government is being raised, economists, former finance ministers and business sector people have termed the budget for fiscal year 2006-07 as an... 17 Jul, 2006
The question remains Finance Minister Ram Sharan Mahat has presented the national budget for the fiscal year 2006-07, based on the assumption of peace, with an outlay of Rs.144 billion — Rs.32 billion more than the current-year estimate. To make this possible, he has had... 13 Jul, 2006
BUDGET : Looking for vision, touch of reality Kathmandu, July 1 :Taxation, treated as the milking cow for the national coffer, has no holy status in Nepal and remains poignantly fragile. An archaic mindset of employees and a weak administrative mechanism define its character for the moment. Since... 01 Jul, 2006
Nepal mired in foreign debt Kathmandu, September 6 : The outstanding foreign debt of Nepal as of July 16, 2006 has reached over Rs 234 billion which comes to over 40 per cent of the country’s total gross domestic product (GDP) that stands at Rs 583 billion, as per the... 09 Jun, 2006
