Finance Minister Barshaman Pun Presents Economic Survey In Upper House for Fiscal Year 2023/24

Finance Minister Barsha Man Pun presented the Economic Survey for the Fiscal Year 2023/24 during a meeting of the National Assembly, the upper house of the Federal Parliament, yesterday.

While tabling the survey, Finance Minister Pun highlighted the improvement in the country's economic and social indicators. The Economic Survey provides an in-depth analysis of the overall economic, social, and sector-wise development, as well as the state of good governance at the federal, provincial, and local levels, covering the entirety of the last fiscal year and up to eight months of the current fiscal year.

Minister Pun emphasized, "Despite the contraction in the productive sector, including industry and construction, the nation's economy is expected to expand by 3.9 percent, driven by growth in the agriculture and service sectors."

He further noted that the economic growth rates in Gandaki, Bagmati, and Lumbini provinces are projected to surpass the national average. The total investment for the current fiscal year is anticipated to rise by 2.8 percent, reaching approximately NPR 1,741.48 billion. Additionally, the per capita income is estimated to increase to USD 1,456.

The National Assembly is scheduled to reconvene at 4:15 PM on May 28.