Have Nepalese really started earning more? CBS data shows average PCI of Nepalese has touched 4 digit mark for the first time; Nepalese earning USD 1004 in average

Per Capita Income (PCI) of Nepalese citizens, for the very first time, has reached a four digit figure this fiscal year as per the data made available by Central Beuro of Statistics. As per the latest release, the PCI which had increased by USD 105 to USD 862 last year has this year risen to USD 1004. When converted to Nepalese currency, the latest data translates to the fact that average income of Nepalese people has increased by Rs 15 thousand to over Rs 1 lakh this fiscal year.

The bright side of the story is that contribution of remittance to our Gross Domestic Product (GDP) has come down this fiscal year as 26.32% contribution was observed previously whereas it has reduced to 24.52% this time.