The Economic Survey 2021/22, presented before the House of Representatives (HoR) on Saturday, provides a satisfactory picture of the national economy that has endured internal and external shocks due to the COVID-19 pandemic, global economic crisis and ongoing war in Ukraine. There were speculations that Nepal’s economy was moving on the path of Sri Lanka but the survey allays such unfounded apprehensions and projections as its growth rate is expected to stand at 5.84 per cent. This growth estimation is higher than the previous year’s but lower than the government’s prediction of 7 per cent. In the last fiscal year, the economic growth stood at 4.25 per cent because of unseasonal rains that damaged the ready-to-collect paddy crops in many parts of country and the pandemic badly disrupted business, industry and tourism for around two years. Nonetheless, the survey has shown gains in per capita income (PCI), inflow of foreign direct investment (FDI), electricity generation, social security, road construction, people’s access to internet and water supply and production of milk, meat and eggs.
