Kathmandu, Aug. 28 -- Nepalis working abroad are sending home Rs4.72 billion every day, a financial lifeline that has sustained millions of households and kept the country's economy afloat for decades.

In the last fiscal year, which ended in mid-July, Nepal received Rs1.72 trillion in remittances, a year-on-year growth of 19 percent, according to Nepal Rastra Bank's recently released annual macroeconomic report. The figure is almost equal to the government's yearly budget.

The report shows that remittance inflows have been hitting new records since the Covid pandemic. The highest monthly inflow reached Rs189.11 billion in the final month of the last fiscal year. Unlike previous spikes that came during festivals or after natural disaster...