Comprehensive policy a must to rev up economy
Around 500 youths are out-migrating daily for jobs. This exodus has brought remittances, the government is touting it as its success and splurging.
The economy is ailing. Inflation is rising. Exports have plummeted and so have imports. Though decreasing exports are taken as a good sign for the economy, imports have dipped in our case because investment from the private sector has decreased and so has consumption.
Capital expenditure has slid further this year compared to the corresponding period last year. In Koshi Province, a large portion of the budget may go unspent.
Development works have come to a standstill nationwide. If development gains pace, it will have an overall positive impact as contractors, suppliers will get business and others will get jobs.
Government should launch a comprehensive policy in tandem with monetary and fiscal policies to boost industrial production and export for reviving the economy. Piecemeal efforts won’t work.
The author is a senior economist and a former lawmaker
