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Student Corner

Economic Condition Of Nepal

Written by: Prasanna Dhungel - 28021, Grade VII

Posted on: 16 November, 2022

Nepal is one of the least-developed countries in the world. The main reason is corruption. But not only that, it is followed by many other factors that are barriers to Nepal's development. For example, unemployment and improper education Nepal highly depends upon other countries for goods, even though 60% of the people in Nepal highly depend on agriculture. It is also the country with the most water resources. Even when Nepal has so many water resources, it fails to use them properly due to a lack of money. With no honest leaders leading the country, no matter how hard the citizens try, the country will remain the same. Nepal is the poorest country in South Asia and the 17th poorest in the world. About 25 percent of Nepalese live below the poverty line. The unemployment rate of 42 percent has covered Nepal for more than a decade. More than half of the country's population is under the age of 35, and every year, more than 300,000 of these young people are eager to find a proper job, with many either striving to go abroad as unskilled labour or stay in Nepal and work as labor. Nepal’s economic condition might be worse than Sri Lanka’s in the next few years, as the country has been highly in debt and has been importing needed goods from different countries, mainly India and China. Nepal has not been able to take many development steps because of a lack of money. Nepal has no other way to get foreign money except through tourism, as Nepal has Mount Everest. Nepal has tonnes of well-established schools, but around 30% of the people there are still illiterate. The government should open more schools with proper facilities for students living in poverty. For example Singapore, there is almost no poverty in Singapore because of this, crime rates are low. People get their basic needs so they do not feel like they have to steal to survive. So the government of Nepal has to think about possibilities and take the appropriate steps as soon as possible to recover and develop our country.