Focus On Job Creation

Nepal has been reeling from various economic troubles ranging from inflation to unemployment and trade deficit to low revenue collections. These problems stem from structural deficiencies. In the absence of import-substitution industries, the country is overly reliant on imported goods. The dependency on agriculture products speaks volumes on the precarious situation of economic health. Remittance that contributes to around 24 per cent of total Gross Domestic Product (GDP) has been the lifeline of national economy. The world has increasingly become interdependent due to the fast pace of globalisation but Nepal’s economy has not been integrated to the global financial system as it has not been able to produce and trade the merchandises of comparative advantage. This shows we have lagged behind in benefitting from the free trade spurred by the dismantling of tariff barriers.