NSO projects economic growth rate of 3.54 percent in current FY

Kathmandu, April 30: The National Statistics Office (NSO) has projected an economic growth rate of 3.54 percent in the current fiscal year.

However, the government through the budget announcement had targeted to achieve the annual economic growth rate of 6 percent.     

The NSO made such projection on Tuesday by unveiling the Annual National Accounts Statistics for the fiscal year 2080/81.     

However, the Office has said that economic activities in the country are expected to accelerate compared to the first and second quarters of the current FY.     

Issuing a press release, the NSO has said the country's economic growth rate will be 3.87 percent in the consumer price and has projected that the country's size of economy will be Rs 5705 billion in the current fiscal year.     

The size of the country's economy was Rs 5348 billion in the last fiscal year, the NSO stated.     

According to the NSO, the growth rate of agriculture, forestry and fishing sector will be 3.05 percent while the growth rate of the non-agriculture sector will be 3.75 percent.     

Likewise, the primary sector will witness a growth rate of 3 percent while the secondary sector will be limited to 1.2 percent and the tertiary sector will have a better growth rate of 4.5 percent in the current fiscal year.     

The Office has projected that the nominal per capita in GNI will be 1,456 US Dollars and the per capita in GNDI will be 1,843 US Dollars. (RSS)