Nepal’s trade deficit almost equals the annual budget amount
Nepal's trade deficit is ever-increasing and by now, it is almost equal to the annual budget size.
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Nepal's trade deficit swelled to a record of Rs. 1,720.41 billion in the last fiscal year driven by significant imports of petroleum products and low volume of exports. The country's trade deficit is higher than the annual budget presented by the government in the last fiscal year. In the last fiscal year, the total budget amounted to Rs. 1,564 billion. According to the annual trade statistics publis
Nepal’s trade deficit has reached Rs. 1,577.38 billion, more than the total fiscal budget of the country, in the first eleven months of the current fiscal year. Nepal’s total budget for the current fiscal year is Rs. 1,546 billion. The Ministry of Finance had slashed the fiscal budget to Rs. 1,546 billion from Rs. 1,632.83 billion during the mid-term review.
KATHMANDU, June 2: The government has said that it is committed to conserving and preserving the Chure region.
Responding to the widespread criticism from the different quarters, the Ministry of Finance said that the government is aware to check exploitation of the Chure region and avert the negative impact on the environment conservation.
Finance Minister Bishnu Poudel, introducing the annual budget for the Fiscal Year 2021/22 on May 29, announced that ‘Mine-bases stones, pebbles and sand, on the basis of environment impact assessment (EIA), will be exported in order to minimize the trade deficit’. The government’s plan, however, has been dragged into controversy as it is ‘sure to be catastrophic for the environment.’
Releasing a public statement on Wednesday, the ministry said that the government is committed to introducing necessary guidelines, directives, and legal arrangements based on the advice and suggestions received from the stakeholders, government entities concerned, environmentalists and experts to ensure necessary arrangement for the conservation of environment and people’s lives.
