Is Nepal Economy sinking with Corona virus ?

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But, Now let's get into today's topic.

Today's blog is the continuity of previous blog theme i.e was 'Corona & Nepal'

So in this blog we will looking after the economic sector of Nepal and also will be looking for some bad impact and positive changes that has occur or might occur in the future. So, let's get into it.😊😊

Nepal being a landlock country has been highly influenced by Indian market followed by Chinese. From ancient time it is seen that Nepal has been only been able to import and export to these countries. So, Nepal is always highly affected when one of these market has got affected.i.e Nepal has not any proper International trade between any other third country rather than of India and China.

So happened at the time of Pandemic in Nepali market. 

The trading system of Nepal

As Coronavirus was found in Wuhan at December The China went to Lockdown which made no trading between Nepal and China and at present as India has also been in lockdown along with Nepal and China is trying to get restarted it has created haphazard situation in market currently.

1)Which sector of Nepal was Highly influenced by Indian and Chineses market and People ?

• Tourism sector : In per annum basis the Tourism of Nepal has been highly influenced by Indian and Chineses tourist. The half of number of tourist are likely to be from those country.

• Agriculture: As there is open border the dominance of Indian agriculture product has been highly seen in the Nepalese market. The practice is like at the time of Nepali goods getting market Indian goods are sale in low cost due to which consumer get attracted and next year when Nepalese goods are not produced due to last year loss at that time Indian market sell their goods at high cost which force people to buy it in marked price given. 
• Governmental Aids: As India and China had been already been developed they have been providing the aids for different development activities and also is providing labour force to work in those activities.

Governmental Aids

Nepal Economics

2) What kind of Impact has been seen in Nepalese market?

Likely to say but Nepal has no any proper production of any goods but have been dependent in the neighbouring some how in every cases. So following impact has been seen in the Nepalese market:

1. The one of the highest GDP contribute was from the 'Rajashow' collection which has been dropped down as their is very less number of imports and let's say no any kind of export at present.

2.The next one are hotels.Their are many hotel running across the country which are been now shut down and are bearing very big loss of billions which is very hard to be overcome for years or two.

3. The regular essential items has now been seen to be at high demand as their had been no stock made in which has made the price hike up very high that is out of purchasing level of people.

3) What proposal has Government made to over come from this high economical loss?

The Nepalese government has brought a fund collecting program which has been getting many funds from different organizations and people in the country. Those fund can be utilized to bring ampel amount of health kits and other essential items to fight against the coronavirus.

Till date the fund collected has been amounted to be Rs 207.31 million and also EU has decided to give 9.8 billion relief fund to Nepal which is good news.

Along with rasing funds the Government has also planned to distribute funds to the needy people and the businessman who are in highly loss at the present it might not be fully be recovered but Government is trying to act like a pain killer that help to reduce the pain slightly from those who are highly impacted.

The government currently is also providing foods and other required things to those who have been stucked in different part of country which is appreciable.

At the moment we can only expect or hope to not get any more disasters to be happen to our market because at the present time a quick comeback within a year or 1 and half year is possible but if the policies goes wrong then it might throw country about 5 years back which might be very devastating as Nepal has only been able to over come pain of Earthquake that collapsed the Nepalese market for more than couple of years and still is some how effected. 

So, Lets hope for good together.

4) What positive changes can be made in Nepalese economy?

At the time sitting in house and enjoying with family is only thing that can be done along with thinking for positive things & plan that can be done after this pandemic is over to over come the losses in the market. 

So following points that are also said by some of the expert and also as our team also fully thinks that these might be some of the alternative option to over come this pandemic and run along economy development and get in the race quickly because other countries in the world might not have the asses to all of these things as Nepal does. 

So lets give a quick look of it:

• As Nepal is highly based in agriculture but hasn't been done in modern way is leading Nepal to face the trade deficit. So as it is seen that most of the nepalese are willing to be back to country as they have lost their job in foreign now can have a great association with the Government and can start a modern era of agriculture in Nepal which will cut off the agriculture supplies from India and would help to maintain the deficit that had occurred in the Nepalese market previously and along with it the animal husbandry also can be practiced so that at the time of some festivals we don't have to import meat products of millions. Along with that other agriculture hubs can be established to promote our goods all over the globe.

• The second option can be that the Nepal can start the projects of Hydroelectricity in high basis.  i.e Nepal can collect a money from the citizens or can make them to put shares on project and can run the projects because Nepal is highly gifted by nature, it had gave more than 6000 rivers with continuous water flow for 12 months from Mountains and also had made a geographical structure that best that around 83000 mw can be taken out from the projects. So if it can use its human manpower who has technical knowledge then it can then finally make o deficit in the trade as it can be the leading nation in Asia for production and sales of electricity. Nepal can be 'The Power House of Asia'.
• Nepal also can use it's manpower after this pandemic in research work and can explore the sector of medicine in the country itself by knowing that it has the medicine for different big disease in the world and again with it the trades of medicine with India will be cut off and Nepal might not face any crisis of medicine rather it will be exporting the medicine outside of the country in large amount which will uplift the countries economy.

There are still many sector in Nepal that can be explored with the manpower that are willing to be back in the country and will be wanting to find some opportunities in Nepal itself.

It's great time to Nepali government to explore many places along with its large manpower.

Those manpower can occupy many vacuum place of outsiders who are also willing to go to there country. So if it is done then Nepal will have good future and also can overcome the pandemic situation of the market as soon as this ends.

At this time government can make many positive changes in tourism sector to attract the tourism as well as also can help for different industries as well.

So Nepal is a virgin land and land of opportunities which should be taken into consideration and it will help to invest the money that is of people inside of country and also would help in reinvestment of those money rather that sending it abroad as it used to be in past.

Medicine

Hydropower

Agriculture

This blogs can be relate to any of the country in the world by making some changes along with Nepal corona virus has give chance to all the countries to rebuilt and have better and bright future.

So this much for today. Hope you like the blog and I will hope for positive vibes to be gain more incoming days. please support us and if you love it then please share it to your friends.

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THANK YOU ALL......

@The Million Chasers expressing their thoughts in their own words.