Written by: Aaradhya Prasai - 2027001, Grade V
Posted on: 06 September, 2020
Economics is the study of the economy or the part of a society that creates wealth. Nepal is a country with a small “ECONOMY”. Our economy is based on remittances(the money sent by Nepalese workers working abroad). The service sector has the highest contribution to our economy. Agriculture is the second largest contributor whereas industries contribute less to our economy. Landlocked, lacking substantial resources for economic development, and hampered by an inadequate transportation network, Nepal is one of the least developed nations in the world.
Agriculture—primarily the cultivation of rice, corn (maize), and wheat—engages most of Nepal’s population and accounts for well over half of the country’s export earnings. Yet agricultural productivity is very low. On the whole, Nepal has a small surplus in food grains. There are, however, major dislocations in supply and demand. Periods of shortage between harvests of various crops occur in the mountain areas. At the same time, substantial amounts of food grain are moved to India from the Terai.
We can develop our Economy through commercialization, modernization of agriculture, by promoting tourism, producing electricity, and establishing manufacturing industries.
