The area covered by agricultural crops has decreased in Koshi province due to the increase in immigration and the construction of houses and residences on agricultural land. In the regional economic activity study report of the fiscal year 2080/81 published by Nepal Rastra Bank, it is mentioned that the total area covered by agricultural crops in Koshi province has decreased by 1.55 percent compared to the fiscal year 2079/80.
The Central Statistics Office estimates that the share of Koshi province in the national GDP of Nepal in the fiscal year 2080/81 will be 15.84 percent. In the last financial year, the share of this province was 15.88 percent. It is estimated that 32.80 percent of the agricultural sector, 16.32 percent of the industrial sector and 50.88 percent of the service sector will contribute to the total domestic product of the province.
As agricultural land decreases, the area covered by crops such as rice, corn, millet, potato, soybean, orange, and turmeric has decreased, so the total area covered by agricultural crops has decreased.
Out of the area covered by the total agricultural produce in Koshi province, the area covered by food and cash crops is 87.92 percent, the area covered by vegetable crops is 5.11 percent and the area covered by other crops is 6.97 percent. In the total area covered by agricultural produce, the share of the area covered by rice, corn, wheat, and millet crops is 71.64 percent. In the year 2080/81, the overall production of agricultural crops in this province has increased by 1.13 percent.
Especially under the food crops, rice has increased by 7.45 percent and millet by 0.86 percent, so it seems that the overall agricultural crop production has increased. Compared to the previous financial year, the production of vegetables has increased by 1.98 percent, the production of tea by 0.01 percent, the production of coffee by 1.23 percent and the production of honey by 0.28 percent, while the production of fruits has increased by 0.94 percent and the production of spices has decreased by 8.03 percent. is.
In the year 2080/81, irrigation facility has reached 37.3 percent of the total cultivable area of this province. During the same period of the previous year, the area reached by this facility was 36.74 percent.
The total irrigated area in Koshi region has increased by 1.52 percent. Similarly, milk production has increased by 19.93 percent, meat production by 2.30 percent and fish production by 1.21 percent. Egg production decreased by 1.73 percent and wool production decreased by 6.43 percent.
Likewise, wood production has increased by 15.29 percent. Compared to the end of June 2080, the credit flowed from banks and financial institutions to the agricultural sector of Koshi province decreased by 2.10 percent to Rs 59 billion 900 million 74 lakh 41 thousand in the end of June 2081.
By the end of last June, among the total disbursed loans, the share of disbursed loans to the agricultural sector was 10.12 percent. The average capacity utilization of the industries included in the sample selection of this province is 52.7 percent. In the year 2079/80, the average capacity utilization of the industry was 51.1 percent.
According to the products produced, in the review year, the capacity utilization of the tire and tube manufacturing industry is the highest at 91.3 percent, while the capacity utilization of the vegetable ghee manufacturing industry is the lowest at 4.4 percent. Garment production is the highest among the industries included in the study, while the production of household metal goods has decreased by 45.7 percent.
In the year 2079/80, 18,461 workers were employed in 43 industries of the province, while in the financial year under review, a total of 16,958 workers were employed in those industries which is 8.1 percent less than the same period last year. Workers have lost their jobs in industries located in Sunsari, Morang, Ilam, Jhapa and Udaipur. Of the total industrial employment, 83.2 percent of domestic workers and 16.8 percent of foreign workers were employed . In the year under review, the participation of local and foreign workers in the total industrial employment is 91 percent and 9 percent respectively.
According to the central bank, Compared to the end of June 2080, the total industrial credit increased by 8.11 percent at the end of June 2081 and stood at Rs 1 trillion 39 billion. In the same period of the previous financial year, the loan increased by 6.64 percent. so A total of 1,837 branches have reached 754 commercial banks, 195 development banks, 36 finance companies and 852 microfinance institutions in the province.
Similarly, compared to the end of June 2080, the total deposit mobilization of banks and financial institutions in the province increased by 13.38 percent to Rs. has reached 78 billion.
