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Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel presented the Economic Survey for the current fiscal year in the Parliament meeting today.

The Survey projects that the economic growth rate for the current fiscal year will be 4.61 percent.

According to the Finance Minister, all provinces except Madhesh, Koshi, and Sudurpaschim are expected to secure economic growth rates higher than the national average.

The size of the national economy is expected to reach Rs 6,107 billion in the current fiscal year.  

The Minister apprised the session, it has been estimated that the service sector will have the highest 62.01 percent contribution to the Gross Domestic Product (GDP) followed by 25.16 percent from agriculture and 12.83 percent from the industrial sector. 

As per the data until the end of Falgun in the current fiscal year (mid-March, 2025), the per capita gross national income soared to USD 1,517, and the average consumer inflation rate was 4.72 percent, according to the Economic Survey. 

Prime Minister KP Sharma Oli has asserted that there was no alternative to the federal democratic republic system in the country. 

Addressing a special ceremony organised at Tundikhel on the occasion of Republic Day 2082, Prime Minister  Oli shared that the republic does not belong to any one party and its true owner is the people as well as a  democratic republic system of governance 'of the people, by the people and for the people.'

According to this principle, citizens themselves choose their representatives from the ward level to the President and they can change their representatives, added PM Oli, stating that therefore, the responsibility for good or bad also lies in our hands.

He mentioned that the country has seen far greater progress in schools, communications and infrastructures in just 17 years of its establishment than in 250 years of the lavish monarchy, stressing the need that all should be united to build and strengthen the republic.

"The debate in our society is not about whether autocracy or the republic is better. There may still be many areas where those of us in formal and informal positions of power must improve our conduct and behavior. The challenges of poverty, unemployment and corruption facing the nation cannot be overcome by seeking an authoritarian ruler wearing a crown. Rather, in a democratic system, the solution lies in honestly electing strong political leaders who can face and address these issues. History bears witness; the monarchy ruled over the people; it did not serve them. The shift from rule to service began with the republic- it is not yet complete."

PM Oli argued, "Good governance, transparency and accountability are the backbone of a republican system. We are committed to strengthening them and dedicated to fulfilling our national aspiration of 'Prosperous Nepal, Happy Nepali.'

"Republic is not something we were given, it's something we achieved through the sacrifices and dedication of thousands of people. Today the people themselves cote inclusively, electing at least 36,057 representatives from various castes, ethnicities and communities--from ward members to the president of the country", he mentioned

Prime Minister Oli stated, "When rights are matched with responsibilities, only then the republic can steer our beautiful country towards development, prosperity and good governance."

He questioned, "Where were our development indicators before the republic and where are they now? Let us reflect: Where was our Human Development Index before the republic? Where is it now? How any schools and hospitals existed during the 250 years of monarchy and how many kilometers of roads existed then and how many now? How many people had access to clean drinking water and electricity and how many have it today? Where was the standard of living of the people then and where is it now?"

He shared that all these achievements were possible from democratic republic.

Prime Minister Oli further said, "Today is a special day for us. It marks the historic date--Jestha 15, 2065- when after years of struggle with the sacrifices of thousands of brothers and sisters, and our collective tireless efforts, Nepal became a democratic republic. In remembrance of that historic day, today we are celebrating Republic Day."

He mentioned that we all people dismantled the autocratic system ruled by the commands of the crown and established a system where the country is governed by the decisions made from the hearts of the people, adding this historic milestone achieved by our society is something we must never forget and we never will.

The price of gold dropped by Rs 1, 500 per tola in the domestic market on Thursday. 

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 187, 800 per tola today. 

Similarly, the price of silver has dropped by Rs 10 and is being traded at Rs 1, 995 per tola today.

A meeting of the Council of Ministers being held at the Office of the Prime Minister and Council of Ministers  will endorse the estimated revenue and expenditure (budget) for the fiscal year 2025/26.

The budget proposal will be presented at a joint session of both Houses of the Federal Parliament this afternoon. 

According to the PM's private secretariat, a meeting of the National Planning Commission will also be held this afternoon under the Chairmanship of Prime Minister KP Oli. 

Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel is scheduled to present the budget in the Federal Parliament at 3 pm today. 

Prime Minister KP Sharma Oli has extended best wishes to all Nepali sisters and brothers at home and abroad on the occasion of the Republic Day. 

"Today is the day when the people created their history by abolishing the repressive regime of the Royals; when the nation's interests took the centre stage; when the citizens' dignity was reinstated by breaking the pride and priggish of the throne and when the peoples' seven-decade-long struggle and sacrifice was materialized earn the republican system", the PM wrote on Facebook. 

"On the auspicious occasion of Republic Day, I sincerely wish all Nepali brothers and sisters residing in the country and abroad, Jaya Jaya Jaya Nepal!"  

Today, the 18th Republic Day is being celebrated across the country with various programs.. 

The 18th Republic Day is being celebrated across the country on Thursday.

The Republic Day Main Celebration Committee is holding a special function at Army Pavilion, Tundikhel. The Day is associated with people's movement and aspiration for change.

All three tiers of government are conducting the programs to commemorate the historic day. It is the day the country was declared a Republic.

The government has decided to observe the day for three days this year also.

The government offices in the country and diplomatic missions abroad would conduct programs along with illumination.

After the then CPN (Maoist) armed conflict and seven parties' peaceful movement, then King Gyanendra Shah restored the House of Representatives (HoR) on April 24, 2006, thereby returning the rule to the people's representatives.

Two years later, the first meeting of the Constituent Assembly on May 28, 2008, declared the country a Republic.

The Republic Day Main Celebration Committee has been formed under the chairmanship of Prime Minister KP Sharma Oli to celebrate the Republic Day in a grand manner this year.

Home Minister Ramesh Lekhak is under pressure from opposition parties to resign, taking moral responsibility for last week’s reported visit visa scam. Though no concrete evidence of Lekhak’s involvement has emerged, opposition parties are demanding his resignation and the formation of a high-level judicial commission to investigate the issue.

Opposition parties, particularly the CPN (Maoist Center), Rastriya Swatantra Party, and CPN (Unified Socialist), obstructed Parliament on Tuesday and Wednesday over the matter. Within his party, the Nepali Congress (NC), Lekhak is known as a politician with a clean image and integrity, having played a pivotal role in Nepal’s peace and constitution-drafting process. A key architect of the current NC-UML coalition, Lekhak is a close confidant of NC President Sher Bahadur Deuba. The NC insists he should be allowed to speak in Parliament to clarify the accusations, but opposition parties remain adamant about his resignation.

The parliamentary obstruction comes at a critical time—the government is set to present its budget on May 29, the constitutionally mandated deadline. Opposition parties have hinted they may allow the budget presentation, acknowledging that failure to do so could trigger a constitutional crisis.

Lekhak faces pressure not only from opposition parties but also from within his own party. Senior NC leader Shekhar Koirala publicly suggested he resign to facilitate an independent probe into the scam. On Wednesday, NC General Secretary Gagan Kumar Thapa stated that the home minister should step down, calling it a “political and moral issue.” Despite internal dissent, the NC’s official stance is that Lekhak will not resign, nor will a judicial commission be formed. NC Chief Whip Shyam Ghimire said that since only some officials have been implicated so far, seeking home minister’s resignation is unjustified.

On May 21, Tirtha Raj Bhattarai, chief of the Tribhuvan International Airport (TIA) Immigration Office, was interrogated by the Commission for the Investigation of Abuse of Authority (CIAA) for allegedly facilitating illegal foreign travel on visit visas. Officials describe the scam as potentially involving billions, with suspicions of senior home ministry officials’ involvement. Bhattarai’s abrupt transfer from the airport to the home ministry—followed by his arrest the next day—has raised questions. Prime Minister KP Sharma Oli and the NC continue to support Lekhak, citing a lack of direct evidence linking him to the case. However, prolonged parliamentary disruption could intensify pressure for his resignation.

The Home Ministry’s reputation has suffered in recent years due to successive corruption scandals. Former Home Minister Bal Krishna Khand faces charges in the fake Bhutanese refugee scandal, alongside the home secretary and other high-level officials. Former Home Minister Rabi Lamichhane is also embroiled in cases involving cooperative fraud and passport misuse. After being denied the chance to speak in Parliament, Lekhak held a press conference to defend his position on Wednesday.

"It is unjust to drag leadership into controversy before the CIAA completes its investigation," he said. "I will not resign based on media and social media reports. No complaints have been filed against me. I deserve justice like any ordinary citizen." He also argued that past investigations into senior Home Ministry officials and the chief secretary did not prompt calls for political leadership to step down. Lekhak assured the Home Ministry would fully cooperate with the CIAA’s probe.

Former Nepali Congress lawmaker Mohammad Aftab Alam, who was sentenced to life imprisonment in connection with an explosion and the subsequent murder of at least 23 persons in Rautahat at Fradahawa in Rajpur, Rautahat April 9, 2008, has been released from jail on Wednesday.

Jailer Bhimraj Koirala of Nakkhu prison said that Alam was released from the prison.

Earlier, the Rautahat District Court had found Alam guilty of the Rajpur bomb blast and the subsequent murder and sentenced him to life imprisonment.

The Janakpur High Court today acquitted Alam, overturning the District Court's decision,  the court's Registrar Deepak Bhandari shared.