This study delves into the issues related to remittance and its role in the Nepalese economy. Remittance is found to have positive association with human capital formation and financial development while negative impact on productivity and international trade in Nepal. Nepal is one of the leading nations of sending workers abroad received approximately US$ 6.29 billion of remittances, almost 25 per cent of its GDP in 2017/18. The investment of remitted amount in unproductive sectors like consumption expenses rather than in productive sectors has resulted in an increment in overall import. The remitted income has occupied a major position of financing which exceeds all the foreign aid and investment in recent years. Thus, the Government of Nepal should make an appropriate policy to maximize the benefit of remittance and retain the manpower to the sustainable economic growth and development sector of the country.
This study shows that there is no consensus on the relationship between inflation and economic growth in economic literature. The answer to whether inflation is generally conducive or detrimental to economic growth is still inconclusive. Various arguments have been put forward on both sides. It is generally believed that a low and stable inflation rate helps economic activities, while high inflation hurts growth. The study finds overwhelming support in favor of the specific threshold level of inflation that is appropriate for growth in Nepal. Several studies on this subject have found the threshold value of inflation to be around 6 per cent for Nepal. Inflation is harmful to the economy after certain rate of threshold. Therefore, it is necessary to control inflation in order to address poverty as well as economic growth. Policies need to be put in place to keep inflation target range around the optimum inflation rate to accelerate the pace of economic growth rate and ensure that the negative effect inflation has on economic growth is minimized.
This paper critically analyzes the trajectory of agricultural growth and its determinants in Nepal. Agricultural growth is vital for stimulating overall economic growth. The World Bank research shows strong statistical link between agricultural and overall economic growth in less developed countries. Economic growth and agricultural growth in Nepal also show strong correlation (r = 0.7501 *** ). Agricultural transformation is characterized by declining share of agriculture in national employment and GDP, and increasing share of secondary sectors like industry, service and manufacturing. However, this structural shift seems unplanned and ungoverned in case of Nepal. The contribution of agriculture to GDP is continuously declining, but, the growth of secondary sectors likes industry and manufacturing still looks stagnant.At this incipient stage of agricultural transformation, productivity growth in agriculture is both a necessary as well as sufficient condition for the development of economy as a whole. Agricultural growth depends on institutional (agricultural credit and land holdings), infrastructural (irrigated area, farm mechanization, electricity, storage, transportation, agricultural market), technological (high yielding varieties or improved seed, fertilizers and pesticides) and socioeconomic factors (population, poverty and literacy). Policies strengthening these determinants can help Nepal in achieving targeted sustained economic growth.
This review is done to understand status and global ranking of Nepal on Global Happiness index as well as to identify the importance of happiness index in the government's agenda 'Prosperous Nepal Happy Nepali'. For this numbers of journal articles and reports were consulted as secondary source of data and conclusion were drawn and summarized. No primary data were collected.Happiness index of Nepal, at present, is 4.913 and ranked at 100 th position among the 156 countries of the world. The happiness index status has risen from data (4.156)2013 to (4.962)2017 but it decreased in 2018(4.88) and in 2019(4.913) it is slightly increased but not more than that of 2017. Similarly, ranking of Nepal also increased from 2013 to 2017 but it decreased in 2018 and in 2019 it moved by one and reached to 100 th . As long as people want more wealth, they will tend to be somewhat dissatisfied if they don't get in self-growth, leisure time and intimate relationships. Happiness index could be the basic idea of measurement for the government's agenda 'Prosperous Nepal Happy Nepali'. The mental state of well-being defined by pleasant emotions ranging from contentment to intense joy is Happiness. The Global Happiness report states the Global data on national happiness and evidence from the emerging science of happiness shows that the quality of people's lives can be assessed by a variety of subjective well-being measures, collectively through as happiness [1]. The happiness movement represents a new paradigm where social, economic, and environmental systems are structured to encourage human well-being in a sustainable environment and to measure happiness; happiness index was identified [2]. The World Happiness Report is being releasing every year since 2012. Bhutanese Gross National Happiness Index was the main origin of definition of the Happiness Index. Bhutan started prioritizing happiness over other factors such as wealth, comfort and economic growth since 1972 [3]. Indexation of happiness is based on multiple measurable factors which have kept track of this index till now. Happiness Index, was coined in the 2012 by WorldHappiness Report. The Happiness Index is defined as the weighted rate of respondents reporting "Very happy" or "Quite happy" less the weighted rate of respondents reporting "Not very happy" or "Not at all happy," plus 100. The index thus ranges from 0 to 200 [4]. The report presented the available global data on national happiness and reviewed related evidence from the emerging science of happiness, showing that the quality of people's lives can be assessed by a variety of subjective well-being measures, collectively Happiness Index; Current Status, Global Ranking and its Importance in the Government's Agenda 'Prosperous Nepal, Happy Nepali'
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