Take measures to channelize remittance to productive sectors
Nepal, March 12 -- Nepal continues seeing an unprecedented surge in remittances, a vital part of the country's economy. Nepal received Rs 839 billion in remittance in the first seven months of the current fiscal year 2023/24. This amount is 21.6% more than that of the first seven months of the previous fiscal year. While the immediate financial benefits of this influx are undeniable, it's crucial to emphasize the necessity for long-term economic sustainability too. Remittances, which constitute around 23% of Nepal's GDP, have become a significant lifeline for many families across the country. However, redirecting this windfall into productive sectors is equally important, ultimately decreasing our heavy reliance on remittances for the nat...
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