Four killed as landslide buries house in Bajhang

Four persons died when a landslide buried a house at Tumeda in Bungal Municipality-10, Bajhang in the wee hours of Monday.

Kali Dhami, Golki Dhami, Ashika Dhami and Laxmi Dhami lost their lives after a landslide buried their house at around 1 am today, according to police.

The District Police Office, Bajhang informed that the locals and a team of Jhapa Police Post retrieved the bodies of all of them at 7: 20 am.

The house was completely damaged in the incident.

There were nine people in the house when the incident took place.

Bira Dhami, Ujjwal Dhami, Roshan Dhami, Kamala Dhami and Shanti Dhami were rescued with the locals immediately after the incident.

 

 

Janai Purnima being observed today

Janai Purnima also known as the sacred thread festival is being observed across the country on Monday.

On the occasion, Hindu Brahmins and Chhetris who have undergone Bratabandha (hair shaving ceremony) change the sacred thread (janai) and also tie sacred thread around the wrist of the right hand.

It is also believed that this thread should be removed only on the day of Laxmi Puja that falls during Laxmi Puja in Tihar.

Janai Purnima is also popularly known as Rakshya Bandan.

On this day, sisters offer rakhi (a symbol of protection) to their brothers.

 

Monsoon-induced disasters claim lives of 182 people

The death toll from this year's rain-induced disasters since June 10 has reached 182 as of this afternoon. 

The landslides and floods claimed the lives of 182 people including three in the Kathmandu Valley, Spokesperson of Nepal Police Deputy Inspector General (DIG) Dan Bahadur Karki said.

Police said that 27 persons died in Koshi Province while eight in Madhes Province.

Likewise, 32 were killed in Bagmati Province,55 in Gandaki Province, 36 in Lumbini Province, 10 in Karnali Province and 11 in Sudurpaschim Province, according to Nepal Police Spokesperson DIG Karki.

Similarly, a total of 233 people sustained injuries in the water-induced disasters. Among them, 11 persons were injured in the Kathmandu Valley, 38 in Koshi Province, 12 in Madhes Province, 23 in Bagmati Province, 46 in Gandaki Province, 18 in Lumbini Province, 57 in Karnali Province, and 28 in Sudurpaschim Province.

The police also rescued as many as 113 people from the disasters. A total of 28 persons were rescued in the Kathmandu Valley, DIG Karki said.

He added that 50 persons were still missing in the floods and landslides. And, the search operations for the missing people are under, he said.

The rain-induced disasters also killed as many as 838 cattle.

Since June 10, the flood and landslides inundated 321 houses, 111 cowsheds, 51 bridges, four schools and two government office buildings, according to the police.

The number of households displaced by the disaster stands at 4,787 in the last two months.

Economic Procedures and Fiscal Responsibility Bill registered in Parliament

The government has registered a bill to amend the Economic Procedures and Financial Responsibility Act, 2076 BS in the Parliament.

The government has registered the bill in the Parliament to provide enough time for the discussions on the government's policies and programs and the annual budget submission process, to manage the additional financial obligations owed to the government by public bodies outside the budget system and to make the provisions on reducing wasteful expenditures effective.

Finance Minister Bishnu Prasad Paudel has registered the bill in Parliament last Friday with the aim of regulating the operation, management and related economic activities of the Federal Reserve Fund and other government funds as well.

The decision of the Council of Ministers on July 1 had given approval to submit the bill to the Parliament. Last January, the government started the process of amending the act through an ordinance, but the ordinance could not be passed by the Parliament within the specified time.

A provision has been added in the bill that the province, local level and public bodies outside the budget system (extra-budgetary) shall be subject to the prevailing laws related to such level or body and keep accounts in accordance with the approval of the Comptroller General's Office.

The National Planning Commission, in coordination with the Ministry of Finance, is going to amend the provision that the projection of the available resources and the limits of the expenditure that can be incurred in the next three years for the purpose of formulating the med-term expenditure structure and the budget and program of the next fiscal year must be completed by the 15th of January of the current fiscal year.

It is mentioned in the bill that the budget ceiling should be prepared by the end of mid-February.

Similarly, the bill states that the report on resource estimation and determination of the expenditure ceiling prepared by the National Resource Estimation Committee coordinated by the National Planning Commission's vice-chairperson should be submitted before the finance minister around February 18.

"The guideline and outline related to budget formulation should be sent to the related ministries, commissions, secretariats or entities within Fagun 7 (around February 18) of the current fiscal year. The guideline and outline should mention the budget ceiling, the outline of the mid-term expenditure structure, including the necessary amount in line with multi-year resource guarantee of the national pride projects, for the formulation of the budget for the next three years and remaining within the resource and expenditure ceiling fixed by the Resource Estimation Committee," reads the bill.

An amendment proposal has also been registered seeking to amend Clause 11 of the main Act. The provision of the finance minister presenting before the Federal Parliament the principles of the budget and programs, and the project or program priorities to be included in the Appropriation Bill at least 15 days before presenting the Bill, is being amended.

According to the provisions of the bill to amend the Economic Procedures and Financial Responsibility Act, the principles and priorities of the budget and programs should be presented before the Federal Parliament three months ahead. The Federal Parliament shall forward within the 15th of Chait any suggestion or directive or any topic to be included or removed on the principle and priorities of the government after completing deliberations in principle on it.

Similarly, the bill has also amended the provision on the deadline for 'budget surrender' to be made to the Ministry of Finance.

Country sees 5.44 percent annual average inflation last year

Country's annual average inflation stood at 5.44 percent last fiscal year.

The inflation remained within the expected ceiling.

According to the  Current Macroeconomic and Financial Situation of Nepal  (based on annual data) unveiled by the Rastra Bank today, last year, imports decreased by 1.2 percent and exports by 3 percent.

In the previous year, imports decreased by 16.1 percent and 21.4 percent respectively.

Remittance inflows increased 16.5 percent to reach Rs.1445.32 billion.

The increase was 23.2 percent in the previous year. In the US Dollar terms, remittance inflows increased by 14.5 percent to reach 10.86 billion in the review year compared to an increase of 13.9 percent in the previous year, according to the report.

Likewise, the balance of payments remained at a surplus of Rs.502.49 billion compared to a surplus of Rs.285.82 billion of previous year.

Gross foreign exchange reserves stood at USD 15.27 billion. This level of foreign exchange reserve is sufficient to cover the merchandise and services imports for 13 months, it is said.

Broad money (M2) expanded by 13.0 percent and deposits at Banks and Financial Institutions increased by 13.0 percent and private sector increased by 5.8 percent in the review year.  Total deposits at BFIs stood at Rs.6452 billion and private sector credit amounted to Rs.5074 billion.

Nepse plunges by 34. 47 points on Sunday

The Nepal Stock Exchange (NEPSE) plunged by 34. 47 points to close at 2,966.33 points on Sunday.

Similarly, the sensitive index dropped by 6. 65 points to close at 528. 85 points.

A total of 65,475,366-unit shares of 330 companies were traded for Rs 28. 83 billion.

Meanwhile, Rastriya Beema Company Limited (RBCL), Life Insurance Corporation (Nepal) Limited (LICN), Multipurpose Finance Company Limited (MPFL) and Sampada Laghubitta Bittiya Sanstha Limited (SMPDA) were the top gainers today with their price surging by 10. 00 percent.

Likewise, Nepal Finance Ltd. (NFS) was the top loser with its price dropped by 10. 00 percent.

At the end of the day, the total market capitalization stood at Rs 4. 71 trillion.

Mind Matters | Sleep issues

I’m a 25-year-old rapper. Currently, I’m having problems while sleeping. I have started becoming more concerned about my future and I want to be successful and these thoughts consume me as I go to bed. I find myself overthinking during the day as well but it gets worse at night. Is this how mental illnesses start? What can be the effects of overthinking and what should I do to prevent things from getting worse?

Answered by Dr Rika Rijal, consultant psychiatrist

In today’s fast-paced world, where the entertainment industry is both competitive and ever-changing, artists can feel immense pressure to succeed. The fear of failure and the desire to stand out can often lead to stress and worries. 

Overthinking and sleeplessness are not mental illnesses on their own, but they can be symptoms of underlying mental health conditions, such as anxiety or depressive disorder. The potential dangers of untreated anxiety and depressive disorder can be issues with mental and physical health. In turn, these issues can lead to memory issues and poor quality of life.

You might not necessarily have a mental illness, but it’s crucial to address these symptoms early to prevent them from developing. Engaging in mindfulness exercises can help calm your mind and reduce stress.

By establishing sleep hygiene, you can wake up feeling fresh. Try to avoid screens at least an hour before bed as blue light can interfere with sleep. Eat nutritious foods and avoid caffeine and heavy meals before bedtime. By avoiding alcohol and drugs, you can improve anxiety and reduce sleep problems. Maintaining a healthy lifestyle and exercising regularly can help release tension and improve mood.

Channel your emotions and stress into your music. Write lyrics about your experiences as that can be therapeutic. You can also work with other artists who can provide support and new perspectives.

Remember to break down goals. Divide your career goals into smaller, manageable tasks, and celebrate each achievement. Focus on process over outcome. Concentrate on improving your skills and enjoying the creative process.

For those battling sleepless nights in pursuit of success, there is hope and help available. It’s crucial to remember that self-care is equally important. Prioritizing mental health can lead to a more sustainable and fulfilling artistic journey. A well-rested mind is a creative mind. But if the issues persist, consider consulting a mental health professional. They can provide tailored strategies and support to help you manage your symptoms. In some cases, medication may be recommended by a healthcare professional for anxiety or sleep issues.

Gold price hits new record at Rs 152, 600 per tola

The price of gold has increased by Rs 3, 000 per tola in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 152, 600 per tola today. It was traded at Rs 149, 600 per tola on Friday.

Similarly, the price of silver has increased by Rs 50 and is being traded at Rs 1,810 per tola today.