Govt's Economic Survey for FY 2079/80 Presents Rosy as well as Thorny Reality of Nepali Economy

The government has made public the economic survey for the fiscal year 2079/80.

According to the economic survey, until Falgun of 2079, five percent of Nepali population is still bereft of electricity access. As of now, the connected electricity capacity has reached 2,666 MW after increasing by 21.7 per cent compared to Ashad of 2079.

The economic survey asserts that due to the increase in energy production, the production of electricity, gas, steam and air conditioning will increase by 19 per cent.

The economic survey predicts that until the end of the current fiscal year 811 MW of additional electricity will be generated through 57 Hydropower projects.

Meanwhile, it also predicts that in the upcoming fiscal year 2080/81 754 MW of additional electricity will be generated through 36 hydropower projects.

As of Falgun, 2079, the national transmission line of 66 KV and above has reached 5,669 circuit kilometres.

Also, the distribution lines of 33KV and below have reached 36,595 circuit kilometres.

By the end of the current fiscal year, the transmission line of 66 KV and above is estimated to reach 4,573 circuit kilometres while the distribution line will reach 1,23,557 circuit kilometres.

Similarly, the number of people receiving different social security allowances has increased to almost 37 lakhs, as per the survey.

Until Falgun of the current fiscal year the number of people benefitting from social security allowances has reached 3,683,654 according to the data of the economic survey. With this increase in both numbers and pay-rate for social security allowances, it is taking a toll on government expenditure.

Meanwhile, the economic survey also showed that 15.1% of the Nepali population is still living below the poverty line most of which is concentrated in rural Nepal. However, the number of people reeling with absolute poverty is improving, as per the economic survey. 17.4 % people are under the multidimensional poverty line; 28 percent of which dwell in rural areas.

According to the statistics of the economic survey, 39.5 per cent of Karnali netizens are categorized below the multidimensional poverty line while it is 7 % for Bagmati Province.