Nepal’s GDP growth rate declines

Nepal’s Gross Domestic Product [GDP] growth rate has gone down by 1.21 per cent compared to previous fiscal year, thanks to weak agricultural growth rate, low capital formation and dismal performance of non-agricultural sector.

In the fiscal year, 2004-05, the GDP growth rate remained at 2.33 per cent compared to 3.54 per cent in the last fiscal, which is lower than the government’s target of 4.5 per cent even in a normal case scenario, according to a fresh yearly revised estimate by the Central Bureau of Statistics [CBS], reports The Himalayan Times.