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The Gross Domestic Product (GDP) growth rate has contracted to 3.4 per cent in the first quarter of the current fiscal year 2024/25, the National Statistics Office (NSO) said.

The economic growth rate has contracted due to the landslide and flooding occurred on September 27-29 and the negative growth in the construction sector. 

The NSO said the government has set the target of 6 percent economic growth rate in the current fiscal year and only 3.4 per cent GDP growth rate has been achieved in the first quarter of the current fiscal year.

The growth rate of 17 out of the 18 various sectors contributing to the economy is in the positive while that of the construction sector is in the negative.

Among them, electricity and gas-related activities have the highest growth rate of 21.4 percent, while the transportation and storage sector are the second fastest-growing industrial sector with a growth rate of 6.7 per cent. Similarly, the value addition of the accommodation and food service activities sector is estimated to grow by 6.3 per cent.

According to the preliminary estimate, the growth rate of the financial and insurance sector will be 5.7 per cent, the growth rate of the administrative support service sector will be 5.4 percent and the growth rate of professional scientific and technical services will be 5.1 per cent in the current fiscal year.

It is estimated that the construction sector is shrinking slightly due to the decline in import of construction goods in the first quarter of the current fiscal year. The construction sector is negative by 0.3 per cent.

The value-added growth rate of the agriculture, forests and fishery sector, which share the largest space in the country's economy, is estimated to be three per cent. There is a positive impact on total value addition of this sector following an increase in production of summer crops including paddy as well as vegetables, cash crops and poultry products, it is said. 

 Though agro products were expected to be increased following availability of chemical fertilizer, improved seed and sufficient monsoon rain, the total value-added growth rate of the agro sector could not increase sufficiently due to landslides and floods. 

The wholesale and retail trade sector are estimated to grow by 0.5 per cent in the first quarter. According to the office, it is expected to increase the value-added growth rate of the industrial goods production sector by 2.3 per cent, education sector by 0.4 per cent, health sector by 4.1 per cent and real estate sector by 3.1 per cent during the review period.

Country's overall economy is towards positive growth due to increase in agro-production, power production and distribution, and the flow of tourists, reads the report.

More than 10, 000 foreign tourists visited the Manaslu area of Gorkha district in 2024. Conservation Officer of Manaslu Conservation Area Project Office, Bhuwan Raj Ojha, said a total of 10,605 foreign tourists visited the area in one year.

The number of foreign tourists in Manaslu area was up by 1,428 this year as compared to previous year.  It was 9,177 last year.

He shared that the number of tourists from countries other than SAARC nations visiting the Manaslu area was high this year. The highest number of tourists from France visited the Manaslu area in 2024 which was 1,335. 

Similarly, 1,881 tourists from Germany, 796 from the US and 159 from India visited the Manaslu area. Tourists from Netherlands, London, Australia, Spain, China as well as from other countries used to visit Manaslu area, mentioned Ojha.

Tourists visiting Manaslu area get the opportunity to enjoy the natural beauty of Manaslu area along with Kulchhuman (Kal) lake, Manaslu peak, Birendra Lake, Shregi mountain, Rajen monastery.

The Embassy of Israel handed over personal belongings of the October 7 Hamas terror attack victims, and other Nepali students who participated in the ‘Learn and Earn Program’ in Israel in 2023.

These personal belongings, carrying deep sentimental value, were handed over to their rightful owners today at the Embassy, reads a statement issued by the Embassy of Israel on Tuesday.

Ambassador Shmulik Arie Bass made personal efforts to bring these suitcases back to Nepal.

He met with Dhan Bahadur Chaudhary, one of the survivors of the Hamas attack, and six other students and victims’ families.

Ambassador Bass expressed his heartfelt support, listened to the victims’ stories, and extended his best wishes for their future.

The people of Israel stand in unwavering solidarity with the affected Nepali families, and wish for the fast return of Bipin Joshi, the Nepali hostage held by Hamas.

Deepak Bhatta (name changed), a resident of Kailali who has been living in Qatar for three years, lost money after purchasing a scooter advertised for sale online. He is now facing theft charges.

Bhatt had exchanged an iPhone he purchased abroad as payment for the scooter. However, the seller, a young man, had stolen the scooter, which belonged to another woman, and sold it to Bhatta. When Bhatta attempted to use the scooter, the seller disappeared, leaving Bhatt entangled with the Valley Traffic Police Office after the owner filed a complaint about the theft.

According to data from the Valley Crime Investigation Office, Kathmandu, 963 complaints of online fraud have been registered since July 2024, amounting to a total fraud of Rs 378,590,336. Of these, 82 cases have been resolved, with Rs 17m recovered, said Kazi Kumar Acharya, spokesperson for the office.

Acharya detailed various forms of fraud reported, including 26 complaints of lottery scams, 111 cases involving fraudulent claims of parcel arrivals, and 95 incidents of OTP code fraud. Additionally, 215 complaints were related to scams through fake advertisements, while 29 cases involved general scams, 25 stemmed from hacked social media accounts, and 346 were linked to online job scams.

Police have arrested 13 individuals, including one woman, in connection with these cases.

Fraudulent schemes in Nepal have become increasingly sophisticated. Have you received a message from an unknown number claiming you’ve won a lottery or received a gift from abroad? Be cautious—criminal gangs are exploiting such tactics to deceive people.

These fraudsters are using over 500 phone numbers and have targeted unsuspecting victims by promising lottery winnings, parcels, or dreams of traveling to the United States. Hobindra Bogati, spokesperson for the Central Investigation Bureau of Nepal Police (CIB), confirmed that organized gangs are involved in these online scams.

Bogati also noted that fraudsters are monitoring financial transaction apps like eSewa and Khalti. If users are not careful, these criminals can hack into their accounts and steal money. The number of complaints about financial fraud through such platforms is rising, prompting the CIB to issue warnings.

Social media platforms, including Facebook, Instagram, Telegram, WhatsApp, Messenger, Viber, and Imo, are increasingly being exploited for fraudulent activities. Scammers have even targeted government employees by impersonating officials from app headquarters or social media offices.

Fraudsters use AI-generated voices to claim parcels have arrived or demand courier fees. They also send internet links to gain access to victims' devices and banking apps, stealing money through fraudulent transactions.

Gangs also lure victims by uploading attractive videos and photos on various sites under the guise of online businesses. Customers are often duped into paying advances for goods that are never delivered. Police have received numerous complaints of financial fraud, including Rs 5.7m in Pokhara, Rs 1.6m in Chitwan, Rs 550,000 from government employees, and millions from various companies and organizations.

The CIB has urged the public to remain vigilant and avoid responding to calls or messages from unknown numbers. Investigations into these cases are ongoing.