Legal reforms to boost the economy

But if the situation of political instability has not yet settled well, there seems to be a growing suspicion that the dreams of prosperity of the common Nepalese will be further pushed away.

Before the country can reap the real benefits of our 'demographic dividend', which is considered important in this century to make the country prosperous, the process of emptying the villages and towns of the majority of the productive age group has increased alarmingly in recent years. It is also a sign that the expectations of the current generation of states, which are closely following the rhythms of the dynamic world market, are turning into extreme disappointment. Its long-term socio-cultural dimension is broad and serious. Its roots are somehow connected to the aspirations of the common citizens to improve their economic and living standards. As the foundation of which remains weak, it can be assessed whether today's generation, witnessing the wave of global change, is sometimes becoming disillusioned. The lorry of foreigners from Tribhuvan International Airport is a reflection of that frustration. These frustrations are now spilling over into economic activity.

New student enrollment rates in higher education institutions across the country have fallen at an unprecedented rate. Even when tourist arrivals are said to be encouraging, not only big hotels but also small and medium hotels and restaurants are struggling to survive. Businesses such as construction, health services, financial services are also going through a months-long slowdown in business. Not only the daily consumption and convenience goods/services but also the essential consumption products have dried up. There is almost no sector other than information technology and foreign employment and study consulting businesses that is not in recession at the moment. Both private and public sector investments are expanding and spending is shrinking. The results of the latest survey conducted by the Confederation of Nepal Industry (CNI) among its member industries and businesses have also revealed this fact.

This situation is a strong evidence of relaxation in the distribution of income and the cycle of the economy, which is certainly counterproductive in the pursuit of national economic goals in the short, medium and long term. It is worrisome for a country like ours, which still has a long way to go in development. It has become imperative for the political leadership and policy makers to carefully consider the multiple dimensions of the current socio-economic situation and to radically improve the public service delivery and governance and policy framework so that the common people can feel the presence of the state.

The original self-sustaining economy

Common citizens, the private sector and the government have different priorities, thinking and working styles. However, the common desire of all three parties is comparative upliftment and prosperity. Its motto is a dynamic and strong economy. Ease of access to finance from producers to consumers and strong purchasing/spending power are the first prerequisites for growth in the economy.

Even though external economic indicators look attractive now, the reality is that it is not based on a sustainable internal economy, so there is no room to get too excited. Due to the low production of goods and services, weak exports and contraction in demand and consumption, the current account is currently inflated (positive by Rs. 161.62 billion) due to the continuous increase in remittance inflow due to the sudden number of daily expatriates. The balance of payments situation has become attractive (positive by Rs. 273.52 billion).

But this is certainly not the form of healthy economy we seek. Creating a favorable business environment in the country, a wave of entrepreneurial thinking, a surge in domestic-foreign investment, an increase in productivity/production and an improvement in exports by gradually replacing imports, creating extensive employment in the country and a respectable salary facility, significant improvement in the standard of living through income growth are the components of a sustainable and self-sufficient economy that we want. Based on this, Nepal can fulfill the aspirations of developed economic, social and physical infrastructure.

India's exemplary determination

The determination that the government should have for rapid economic development and building a strong economy and the importance of legal reforms for that is not far away, neighboring India is an example for us. When Narendra Modi became the Prime Minister of India in May 2014, many legal and policy reforms have been made under his leadership.

Before the country can reap the real benefits of our 'demographic dividend', which is considered important in this century to make the country prosperous, the process of emptying the villages and towns of the majority of the productive age group has increased alarmingly in recent years. It is also a sign that the expectations of the current generation of states, which are closely following the rhythms of the dynamic world market, are turning into extreme disappointment. Its long-term socio-cultural dimension is broad and serious. Its roots are somehow connected to the aspirations of the common citizens to improve their economic and living standards. As the foundation of which remains weak, it can be assessed whether today's generation, witnessing the wave of global change, is sometimes becoming disillusioned. The lorry of foreigners from Tribhuvan International Airport is a reflection of that frustration. These frustrations are now spilling over into economic activity.0

Before the country can reap the real benefits of our 'demographic dividend', which is considered important in this century to make the country prosperous, the process of emptying the villages and towns of the majority of the productive age group has increased alarmingly in recent years. It is also a sign that the expectations of the current generation of states, which are closely following the rhythms of the dynamic world market, are turning into extreme disappointment. Its long-term socio-cultural dimension is broad and serious. Its roots are somehow connected to the aspirations of the common citizens to improve their economic and living standards. As the foundation of which remains weak, it can be assessed whether today's generation, witnessing the wave of global change, is sometimes becoming disillusioned. The lorry of foreigners from Tribhuvan International Airport is a reflection of that frustration. These frustrations are now spilling over into economic activity.1

Before the country can reap the real benefits of our 'demographic dividend', which is considered important in this century to make the country prosperous, the process of emptying the villages and towns of the majority of the productive age group has increased alarmingly in recent years. It is also a sign that the expectations of the current generation of states, which are closely following the rhythms of the dynamic world market, are turning into extreme disappointment. Its long-term socio-cultural dimension is broad and serious. Its roots are somehow connected to the aspirations of the common citizens to improve their economic and living standards. As the foundation of which remains weak, it can be assessed whether today's generation, witnessing the wave of global change, is sometimes becoming disillusioned. The lorry of foreigners from Tribhuvan International Airport is a reflection of that frustration. These frustrations are now spilling over into economic activity.2

Before the country can reap the real benefits of our 'demographic dividend', which is considered important in this century to make the country prosperous, the process of emptying the villages and towns of the majority of the productive age group has increased alarmingly in recent years. It is also a sign that the expectations of the current generation of states, which are closely following the rhythms of the dynamic world market, are turning into extreme disappointment. Its long-term socio-cultural dimension is broad and serious. Its roots are somehow connected to the aspirations of the common citizens to improve their economic and living standards. As the foundation of which remains weak, it can be assessed whether today's generation, witnessing the wave of global change, is sometimes becoming disillusioned. The lorry of foreigners from Tribhuvan International Airport is a reflection of that frustration. These frustrations are now spilling over into economic activity.3

Before the country can reap the real benefits of our 'demographic dividend', which is considered important in this century to make the country prosperous, the process of emptying the villages and towns of the majority of the productive age group has increased alarmingly in recent years. It is also a sign that the expectations of the current generation of states, which are closely following the rhythms of the dynamic world market, are turning into extreme disappointment. Its long-term socio-cultural dimension is broad and serious. Its roots are somehow connected to the aspirations of the common citizens to improve their economic and living standards. As the foundation of which remains weak, it can be assessed whether today's generation, witnessing the wave of global change, is sometimes becoming disillusioned. The lorry of foreigners from Tribhuvan International Airport is a reflection of that frustration. These frustrations are now spilling over into economic activity.4

Before the country can reap the real benefits of our 'demographic dividend', which is considered important in this century to make the country prosperous, the process of emptying the villages and towns of the majority of the productive age group has increased alarmingly in recent years. It is also a sign that the expectations of the current generation of states, which are closely following the rhythms of the dynamic world market, are turning into extreme disappointment. Its long-term socio-cultural dimension is broad and serious. Its roots are somehow connected to the aspirations of the common citizens to improve their economic and living standards. As the foundation of which remains weak, it can be assessed whether today's generation, witnessing the wave of global change, is sometimes becoming disillusioned. The lorry of foreigners from Tribhuvan International Airport is a reflection of that frustration. These frustrations are now spilling over into economic activity.5

Before the country can reap the real benefits of our 'demographic dividend', which is considered important in this century to make the country prosperous, the process of emptying the villages and towns of the majority of the productive age group has increased alarmingly in recent years. It is also a sign that the expectations of the current generation of states, which are closely following the rhythms of the dynamic world market, are turning into extreme disappointment. Its long-term socio-cultural dimension is broad and serious. Its roots are somehow connected to the aspirations of the common citizens to improve their economic and living standards. As the foundation of which remains weak, it can be assessed whether today's generation, witnessing the wave of global change, is sometimes becoming disillusioned. The lorry of foreigners from Tribhuvan International Airport is a reflection of that frustration. These frustrations are now spilling over into economic activity.6

Before the country can reap the real benefits of our 'demographic dividend', which is considered important in this century to make the country prosperous, the process of emptying the villages and towns of the majority of the productive age group has increased alarmingly in recent years. It is also a sign that the expectations of the current generation of states, which are closely following the rhythms of the dynamic world market, are turning into extreme disappointment. Its long-term socio-cultural dimension is broad and serious. Its roots are somehow connected to the aspirations of the common citizens to improve their economic and living standards. As the foundation of which remains weak, it can be assessed whether today's generation, witnessing the wave of global change, is sometimes becoming disillusioned. The lorry of foreigners from Tribhuvan International Airport is a reflection of that frustration. These frustrations are now spilling over into economic activity.7

Before the country can reap the real benefits of our 'demographic dividend', which is considered important in this century to make the country prosperous, the process of emptying the villages and towns of the majority of the productive age group has increased alarmingly in recent years. It is also a sign that the expectations of the current generation of states, which are closely following the rhythms of the dynamic world market, are turning into extreme disappointment. Its long-term socio-cultural dimension is broad and serious. Its roots are somehow connected to the aspirations of the common citizens to improve their economic and living standards. As the foundation of which remains weak, it can be assessed whether today's generation, witnessing the wave of global change, is sometimes becoming disillusioned. The lorry of foreigners from Tribhuvan International Airport is a reflection of that frustration. These frustrations are now spilling over into economic activity.8

Before the country can reap the real benefits of our 'demographic dividend', which is considered important in this century to make the country prosperous, the process of emptying the villages and towns of the majority of the productive age group has increased alarmingly in recent years. It is also a sign that the expectations of the current generation of states, which are closely following the rhythms of the dynamic world market, are turning into extreme disappointment. Its long-term socio-cultural dimension is broad and serious. Its roots are somehow connected to the aspirations of the common citizens to improve their economic and living standards. As the foundation of which remains weak, it can be assessed whether today's generation, witnessing the wave of global change, is sometimes becoming disillusioned. The lorry of foreigners from Tribhuvan International Airport is a reflection of that frustration. These frustrations are now spilling over into economic activity.9

New student enrollment rates in higher education institutions across the country have fallen at an unprecedented rate. Even when tourist arrivals are said to be encouraging, not only big hotels but also small and medium hotels and restaurants are struggling to survive. Businesses such as construction, health services, financial services are also going through a months-long slowdown in business. Not only the daily consumption and convenience goods/services but also the essential consumption products have dried up. There is almost no sector other than information technology and foreign employment and study consulting businesses that is not in recession at the moment. Both private and public sector investments are expanding and spending is shrinking. The results of the latest survey conducted by the Confederation of Nepal Industry (CNI) among its member industries and businesses have also revealed this fact. 0

New student enrollment rates in higher education institutions across the country have fallen at an unprecedented rate. Even when tourist arrivals are said to be encouraging, not only big hotels but also small and medium hotels and restaurants are struggling to survive. Businesses such as construction, health services, financial services are also going through a months-long slowdown in business. Not only the daily consumption and convenience goods/services but also the essential consumption products have dried up. There is almost no sector other than information technology and foreign employment and study consulting businesses that is not in recession at the moment. Both private and public sector investments are expanding and spending is shrinking. The results of the latest survey conducted by the Confederation of Nepal Industry (CNI) among its member industries and businesses have also revealed this fact. 1

New student enrollment rates in higher education institutions across the country have fallen at an unprecedented rate. Even when tourist arrivals are said to be encouraging, not only big hotels but also small and medium hotels and restaurants are struggling to survive. Businesses such as construction, health services, financial services are also going through a months-long slowdown in business. Not only the daily consumption and convenience goods/services but also the essential consumption products have dried up. There is almost no sector other than information technology and foreign employment and study consulting businesses that is not in recession at the moment. Both private and public sector investments are expanding and spending is shrinking. The results of the latest survey conducted by the Confederation of Nepal Industry (CNI) among its member industries and businesses have also revealed this fact. 2

New student enrollment rates in higher education institutions across the country have fallen at an unprecedented rate. Even when tourist arrivals are said to be encouraging, not only big hotels but also small and medium hotels and restaurants are struggling to survive. Businesses such as construction, health services, financial services are also going through a months-long slowdown in business. Not only the daily consumption and convenience goods/services but also the essential consumption products have dried up. There is almost no sector other than information technology and foreign employment and study consulting businesses that is not in recession at the moment. Both private and public sector investments are expanding and spending is shrinking. The results of the latest survey conducted by the Confederation of Nepal Industry (CNI) among its member industries and businesses have also revealed this fact. 3

New student enrollment rates in higher education institutions across the country have fallen at an unprecedented rate. Even when tourist arrivals are said to be encouraging, not only big hotels but also small and medium hotels and restaurants are struggling to survive. Businesses such as construction, health services, financial services are also going through a months-long slowdown in business. Not only the daily consumption and convenience goods/services but also the essential consumption products have dried up. There is almost no sector other than information technology and foreign employment and study consulting businesses that is not in recession at the moment. Both private and public sector investments are expanding and spending is shrinking. The results of the latest survey conducted by the Confederation of Nepal Industry (CNI) among its member industries and businesses have also revealed this fact. 4

New student enrollment rates in higher education institutions across the country have fallen at an unprecedented rate. Even when tourist arrivals are said to be encouraging, not only big hotels but also small and medium hotels and restaurants are struggling to survive. Businesses such as construction, health services, financial services are also going through a months-long slowdown in business. Not only the daily consumption and convenience goods/services but also the essential consumption products have dried up. There is almost no sector other than information technology and foreign employment and study consulting businesses that is not in recession at the moment. Both private and public sector investments are expanding and spending is shrinking. The results of the latest survey conducted by the Confederation of Nepal Industry (CNI) among its member industries and businesses have also revealed this fact. 5

New student enrollment rates in higher education institutions across the country have fallen at an unprecedented rate. Even when tourist arrivals are said to be encouraging, not only big hotels but also small and medium hotels and restaurants are struggling to survive. Businesses such as construction, health services, financial services are also going through a months-long slowdown in business. Not only the daily consumption and convenience goods/services but also the essential consumption products have dried up. There is almost no sector other than information technology and foreign employment and study consulting businesses that is not in recession at the moment. Both private and public sector investments are expanding and spending is shrinking. The results of the latest survey conducted by the Confederation of Nepal Industry (CNI) among its member industries and businesses have also revealed this fact. 6