End Overdependence On Remittance

Nepal is a country which is preponderantly dependent on remittances, taxes and imports to get its economy rolling. Remittances contributes greatly to the gross domestic product (GDP). In 2022/23, the contribution of remittances to the GDP stood at 22 per cent. Remittances have transformed the country, especially rural areas. Increasing inflows of remittance money from abroad through the labour of the country’s migrant workers have increased savings for poor rural households. As a matter of fact, remittances have the lion’s share in reducing poverty, thus creating economic security for the households receiving remittances on a regular basis.