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The government has begun preparations for the budget of the fiscal year 2024-25. The National Planning Commission (NPC) has set a budget ceiling of Rs 1.8trn for the upcoming fiscal. Minister for Finance Prakash Sharan Mahat outlined the principles and priorities of the new budget in parliament three months ahead of the budget day. The government was presenting policies and priorities of the Appropriation Bill in parliament mere two weeks before the budget day so far. This allows lawmakers more time for deliberation on the principles and priorities of the budget. The government has made significant changes in the budget process to prepare a more realistic budget.

Many economists have described the budget for the current fiscal year as ambitious, stating that the government’s success depends on its ability to manage expenditures in line with estimated resources. However, the government fell short on this front. During the first half of 2023-24, the government could mobilize only 40 percent of its revenue target, with capital expenditure progressing at a dismal 21 percent and recurrent expenditure at 44 percent. Consequently, the government was compelled to downsize the budget by 13 percent, or Rs 221bn, through the midterm review in the second week of February. This adjustment reduced recurrent expenditure to Rs 1,007.45m and downsized capital expenditure to Rs 254.13bn. During the mid-term review, Mahat acknowledged the government’s failure to achieve significant improvements despite earnest efforts to increase revenue and control expenditures.

Realizing the demographic dividend must be a priority for the government to ensure the success and efficacy of the budget for the next fiscal year. At the same time, public expenditure must be directed toward priority projects that support production growth. The government should prioritize projects ready for implementation with assured resources. On its part, the finance ministry must resist pressure to include populist programs from political leaders. The budget should aim to maintain a balance between government income and expenditure to alleviate mounting pressure on public finances. Moreover, it should strive to achieve high economic growth and job creation, and bring policies and programs to create demand in the market to give a new impetus to the economy.

In Nepal, the phase for people to recognize and appreciate avocado as a healthy, nutrient-dense fruit goes back over a decade, and its popularity gradually took on among fruit enthusiasts. Today, the consumption of avocado has almost become a household essential, especially in big cities like Kathmandu, Pokhara, and others, during its peak harvesting season. 

It has even appealed to Nepali farmers for its potential value as a cash crop and a substantial income resource. Dhankuta, in eastern Nepal, is known for extensive farming of avocados and has even bagged the title of avocado capital, Koshi Province.

Native to Mexico, the pear-shaped avocado with coarse rind was named amusingly the ‘alligator pear.’ It’s also called butter fruit in Europe and America for its creamy pulp. This pit-bearing fruit got its name, avocado, worldwide in 1915 when Californian farmers initiated its farming. Today, although the fruit is grown globally, Mexico stands as the largest avocado producer in the world. 

Among many varieties, the Hass and Fuerte are widely preferred by avocado lovers, the former blackish and the other with a green shade and thinner skin. Of the two, the coarse-skinned Hass is favored more than its cousin, the Fuerto, for its soft creamy pulp and smaller pit.

Incredible as it may sound, avocados pack nearly 20 vitamins plus minerals, and they are the only fruit that contains a substantial amount of monounsaturated fatty acids. 

As little as half an average-sized avocado packs almost 140 calories and 15 grams of fat—75 percent of the total fat is healthy monounsaturated. It is cholesterol and sodium-free, rich in fiber, and packed with folates and vitamin E. Likewise, dense in potassium, one-half of the avocado contains more potassium than a medium banana—487 mg against 422 mg, respectively. Health food buffs have touted it as a ‘Superfood.’ 

Now, the health benefits of avocado appear staggering if introduced into our meal plan. Let’s consider looking into the health rewards of the nutrient-dense fruit.

Supports the cholesterol level

Our body comprises two kinds of cholesterol: the ‘good,’ called HDL (high-density lipoprotein), and the ‘bad,’ called LDL (low-density lipoprotein). A severe hike in LDL can lead to life-threatening outcomes, running the risk of heart disease and stroke. The HDL absorbs cholesterol in the blood and transfers it to the liver to flush it out from the body.

Science backs it that avocados are loaded with oleic acid (omega-9 fatty acid) and the richest source of cholesterol-lowering nutrients called Phytosterols, boosting the healthy HDL and cutting down on the culprits, the LDL and the triglycerides. 

Research published by the American Heart Association maintained that daily intake of a single avocado can lower the LDL level. Clinical studies on individuals with high cholesterol levels furnished compelling evidence for this finding with remarkable results. Following a week-long diet of avocado, the analysis led to a 22 percent drop in the LDL and triglycerides while the HDL elevated by 11 percent.

The significant risk factors for cardiovascular disease are bad cholesterol and saturated fat. Again, rich in monounsaturated fat, folate, fiber, potassium, and a plant compound, beta-sitosterol, avocados help keep the cholesterol level in check. 

People with diabetes are supposed to tread a fine line between healthy meals and sugar spikes. Given that, the high-fat content in avocados might sound contradictory, inviting a bad rap. 

A medium-sized avocado contains about 22 grams of fat (15 grams monounsaturated, 4 grams polyunsaturated, 3 grams saturated). Thus, avocados with loads of ‘good fats,’ with an insignificant amount of saturated fat, still offer health benefits for diabetes patients.

Clinical observation has testified that a diet high in monounsaturated fat supports insulin sensitivity and advances the GLUT4 glucose in the cells.

Low in sugar content and dense in dietary fiber, soluble and insoluble, the consumption of avocado enhances glycemic management and stalls blood sugar spikes. It also helps spur better digestion and may reverse insulin resistance in type 2 diabetes.

Keeps the kidneys safe

Maintaining a healthy heart is crucial, as is the delicate care and safeguarding of our kidneys lest they run high risks of harm with critical results. A rich source of vitamins, minerals, and antioxidants, a single avocado packs over 480mg of potassium, which nourishes the kidneys. Specialists maintain the intake of a moderate amount of avocado in their diet, even helping chronic kidney patients in a critical stage.

Even tea made from avocado leaves works as a kidney cleanser, flushing wastes and toxins from the kidneys.

Keeps our eyes healthy

Avocados are rich in vitamin E and compounds like lutein, zeaxanthin, and carotenes. Research studies maintain that it supports eye health. With antioxidant properties, they also assist in fighting off eye diseases that come of age, such as macular degeneration and even cataracts.

Incorporating avocado into your meal plan helps keep your eyes healthy. It is rich in compounds called lutein and zeaxanthin (belonging to the carotenoid family). They maintain your eye health with antioxidant properties and fight off eye diseases that come of age, such as macular degeneration and even cataracts. 

Nourishes the skin

Besides, ladies also try a thin slice of avocado peel or a fruit paste mixed with almond oil under the eyes, thought to remedy dark blotches. For the oil content in the peel, too, rubbing the peel on dry skin of the face works wonders, they claim. Women also use the creamy paste of the fruit as a DIY face mask to hydrate and moisturize the skin. It is supposed to make the face skin soft and silky.

Some tips

When buying avocados, widely available in Kathmandu fruit stalls, go for the firm ones, discarding those with soft, dark, sunken spots or bruises. You can store them in the refrigerator for ripening, which takes four to seven days. If you wish to ripen them earlier, stow them in a paperback in your pantry; that takes less time to ripen. 

Like all other fruits, avocados are eaten raw. The pulp mashed into a fine paste makes a superb spread, substituting butter for bread, sandwiches, and rotis. It works wonders as a salad accompaniment. Or slice it and eat it by scooping its creamy fruit.  

Or, if your taste buds crave a seasoned sauce or spread, mash the fruit, add lime juice, and season it with a pinch of salt and cilantro. Voila, you have blended it into an incredibly popular Mexican condiment. 

Small wonder, the fantastic avocado has won over the hearts of people across the globe today. The bottom line? The splendid nutritious fruit worth its weight in gold is, by all counts, a ‘Superfood!’ Indeed!

References: hsph.harvard.edu/nutrition source; cdc.gov; medicalnewstoday; healthline.com; bbcgoodfood.com; nutritiofacts.org; breathewellbeing.in; avo.com.np.

Disclaimer: The views expressed in the above text are solely research-based, not medical advice; the author solicits readers’ discretion and cross-references. 

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From the prehistoric epoch, our land has been home to some of the great minds, including sages and hermits with tremendous philosophical depth and ideology, sources of wisdom and knowledge throughout the world. Nepal has had personalities, who had attained dimensions beyond physical, in the genres of ‘tantra’, ‘mantra’ and ‘yantra’. 

While the half hemisphere of this living planet was living in the stone age, knowledge based on profound experience of the cosmos was flowing in Nepal. 

This is the land of the Vedas, of the Buddhas including Shakyamuni Buddha, this is where Kapilmuni propounded the Sankhya philosophy and Falgunanda instituted Kirant religion. While this rich and vibrant culture and tradition is still going on, the rulers of this country have failed to recognize and tap Nepal’s tremendous human potential.

During the Rana regime, Gehendra Shamsher Rana, considered the first scientist of modern Nepal, developed Nepal's first mini-hydropower plant, water-powered rice pounding mill, wind-powered water pump and leather refinery, among others. 

Gehendra Shamsher also made guns, cannons and a car. Despite these contributions toward the country, the then ruler Chandra Sumsher Rana demotivated this scientist and had him exiled. Finally he died in mysterious circumstances at a young age of 35.

There was another innovator in Nepal, Achyutananda,  also known as Viman Pandit. He built a steam-powered car that could carry up to two people after 20 years of efforts, playwright Balkrishna Sama mentions in his book titled ‘Mero Kabitako Aaradhana’.

Achyutananda is also said to have built a model aircraft with features including a kerosene-powered engine and a bamboo frame covered with waterproof wax cloth. He took off at Pachali Ghat and landed at Kalmochan Ghat. But the aeroplane project ‘crashed’ as soon as the news of the successful test flight fell on Chandra Sumsher’s ears.

These projects were no mean feat in an era when Nepal was largely isolated from the rest of the world. 

Almost 25 years after Achyutananda’s passing, another researcher-cum-innovator-cum-social entrepreneur, Mahavir Pun, was born in Nepal. Pun built a local communication network using wireless technology to connect people in the Himalayan communities. 

But this innovator, a Ramon Magsaysay awardee, has also been suffering the Nepali state’s neglect toward his noble cause. Despite promises to fund his brainchild, National Innovation Center, no help is forthcoming from the state, forcing Pun to auction his international awards to keep the center afloat.

The Takila mountain in Bhutan features a 155-feet-tall statue of Guru Padmasambhava, the first of its kind in the world. The place is expected to become a hugely popular tourist destination, bringing prosperity to local communities. 

Who is behind this magnificent project? A Nepali team under Rajkumar Shakya, a prominent sculptor, who has taken the traditional Newari repousse metalwork to the next level. His works can also be found in Japan, South Korea, France, Italy and the United States. 

After six years of hard work, a team of six sculptors under Manjul Miteri, a sculptor from east Nepal, have carved out a 65-feet-tall sculpture of Gautam Buddha on a cliff in Kyushu (Japan), considered the biggest sculpture of the century on a single solid rock mountain. 

Laxman Shrestha, a self-taught expressive artist from Nepalgunj, participated in the 17th and 18th Asian Art Biennale in Bangladesh, with his abstract paintings entitled ‘Quake’ and ‘Starving Moon’. The Mumbai-based Gallery 7 has bought his works. 

Shrestha is the creator of ‘Khoj’, a series of graffiti that used to be on display in Kathmandu with social messages. Instead of getting support from the state, he got arrested twice. 

For a month, 41 artworks of 13 artists are on display at Drexel’s Pearlstein Gallery in Philadelphia, the first exhibition of contemporary Nepali artists in the United States. 

The exhibition features the works of Shiva Kumar Sharma, an impressionist artist from Dolakha based in Kathmandu, among others. 

His first exhibition was held in Darjeeling in 1982 when he was 14, followed by a solo exhibition in 1991 at Nepali Girls Dioses Center in Darjeeling. Sharma has been spearheading a ‘Save trees movement’ since 2000 and participating in popular group exhibitions. 

These are but some of the representative cases showing the Nepali state not even bothering to give some of its exceptional minds even a pat on the back for doing Nepal and the Nepalis proud.  

At the ongoing 13th World Trade Organization (WTO) Ministe- rial Conference, representa tives from the Least Developed Countries(LDC) are demanding an increased role of the global trade body for their smooth and sustainable transition.

Since the 12th conference that took place in Geneva in 2022, there has been some notable progress when it comes to addressing the demands of least developed countries. LDC rep- resentatives expect that the current meeting will deliver something more substantial.

The draft of the Abu Dhabi ministerial declaration that is currently under discussion states: “Recalling that, at our Twelfth session, we recognized the role that certain measures in the WTO can play to facilitate the smooth and sustainable transition for members after their graduation from LDC category.”

In this regard, the General Coun- cil meeting in 2023 took a vital deci- sion which has been welcomed by the draft text of 13 conferences. The decision of General Council states: “To encourage those Members that graduate or remove countries from unilateral tariff or duty-free and quota free (DFQF) preference programmes reserved for least developed countries (LDCs) based on their being graduated from the UN list of LDCs, to provide a smooth and sustainable transition period for withdrawal of such preferences after the entry into force of a decision of the UN General Assembly to graduate a country from the LDC category.”

The draft text of the 13th conference further states that the General Council recognizes the particular vulnerability and special needs of the LDC, and that their interests should be given due priority for them to secure meaningful integration into the multilateral trading system.

Nepal which meets the two out of three criteria is all set to graduate in 2026. Nepal meets the criteria for human assets index and economic vulnerability index, but it is yet to meet the gross national per capita. Officials say Nepal’s graduation preparations are not satisfactory and that its economy could face the risks after the graduation. 

Although Nepal has been continuously asking the international community to continue duty-free and quota-free preferences even after the graduation, there has not been any notable progress to strengthen the trade capacity of the country.

“Many countries which are graduating are coming up with specific proposals to improve in certain areas, and we are providing support to them. But Nepal has not come up with any proposal for us to support,” said an official requesting anonymity.  

In this scenario, Nepal can also request the United Nations to provide additional years to make the necessary preparations. For instance, the deadline could be postponed for 2029 instead of 2026, but Nepal is apparently sticking to the 2026 deadline.

Nepal’s economy suffered from the 2015 earthquake and the Covid-19 pandemic. According to the figure provided by the WTO secretariat, Nepal’s merchandise export averaged $835m during 2011-2019. With the onset of the Covid-19, they decreased from $968m in 2019 to $856 in 2020, below 2011.  Commercial services exports of Nepal almost doubled from $775m in 2011 to $1.5bn in 2019, but decreased to $830m in 2020, mainly due to a collapse of travel services induced by the pandemic.

The LDCs are accorded special treatment by the international community, mainly in areas such as trade and development cooperation, which is broadly known as “international support measures”. Trade is one of the key areas where LDCs enjoy exclusive preferences, both in the context of market access as well as in the implementation of WTO rules and disciplines. 

Graduation from the LDC category will eventually result in the loss of this special treatment, although the degree to which this will impact individual countries graduating from the LDC category differs. Nepal is asking developed countries to continue the preferential facilities even after the graduation, but this is not sufficient. Nepal has to make a comprehensive strategy for LDC graduation. 

Nepal’s trade deficit is widening. Nepal’s top markets are India, China, the EU, the US, the UK, Japan, and Canada. Nepal has bilateral agreements with India and the US regarding duty-free and quota free market access. 

A report prepared by South Asia Watch on Trade, Economics and Environment in 2022 states that about two thirds of Nepal’s exports are absorbed by India, and preferential market access there is built into a bilateral trade treaty and is not tied to LDC status. 

However, the report says, Nepal’s exports will face tariff increases in other major and potential destinations that offer LDC-specific tariff preferences.  

“While the EU, the UK, and Turkey provide a transition period of three years after graduation, Nepal will face new tariff regimes in other preference-granting countries post-graduation, according to the report,” according to the report. 

It further states: “For some products, the next-best tariff regime offers the same tariffs as the LDC-specific tariff regime, while for others the new tariffs will be distinctly higher. We find that exporters, in general, are not aware of the likely tariff changes.” 

The Nepali private sector is worried about the possible increase in tariffs and fear a severe impact given that Nepal's cost of production is already much higher than that of neighboring and other competing countries. For instance, the cost of production in the apparel sector is about 26 percent higher than that of neighboring countries, as per the Garment Association of Nepal. 

Experts suggest that either Nepal should seek the extension of the deadline or make a comprehensive strategy to mitigate the negative effects of the graduation. Under the Agreement on South Asian Free Trade Area (SAFTA), Nepal will face a significant increase in tariffs for its top two current exports—refined soyabean oil and palm oil. It exports these products to India through the SAFTA route, says the SAWTEE report. 

The report suggests that Nepal must use international/multilateral forums to pursue its post-graduation interests, including continuation of the use of LDC-specific provisions for a specific period, particularly regarding the provisions related to preferential market access, use of export subsidies and the flexible implementation of the Agreement on Trade-Related Aspects of Intellectual Property Rights.