Where is Nepal Located in the World
Where is Nepal: This post is about where is Nepal located on the world map. This post is about marketing plays a vital role to give an answer where Nepal is. Where is Nepal is a such a term which is the most searched term in the Google search engine?
This term where is Nepal is also the most searched term in another search engine. Why? Who gives me an answer? Of course, they do not know where is Nepal. Searchers want to know where Nepal is. According to Google, this term is searched for more than 35,000 per month from the globe.
If you ever go through your world map in the atlas or any other source, then you will see huge landmasses in the South East Asia region with two names, India and China. But have you wonder what’s between this two region, there is As Great King Prithvi Narayan Shah said ‘Yam between two big stones’, a beautiful country rich in both cultural and geographical diversity NEPAL.
Nepal whose official name is the Democratic Federal Republic of Nepal (in Nepali: संघीय लोकतान्त्रिक गणतन्त्र नेपाल) is a landlocked country in South Asia. Geographically it is located in the Himalayas, surrounded in the north by the People’s Republic of China and in the south by India. It is separated from Bhutan by the Indian state of Sikkim, by the so-called Siliguri Corridor.
It is a country of mountainous nature in whose territory there are, totally or partially, some of the highest peaks of the Earth, highlighting Mount Everest (8848 meters above sea level), as well as seven other of the so-called Ochomiles. The modern Nepalese nation is configured as such since the unification of the regions under the direction and influence of the Gurkha king Prithvi Narayan, on September 25, 1768.
Until 2006 Nepal was the only state in the world with Hinduism as an official religion. Since the decline of the monarchy, the country has been transformed into a secular state. Its recent history has been marked by a bloody civil war that ended with the triumph of the Maoist rebels of the PCN-M. The establishment of a government of national unity and the convening of a Constituent Assembly.
This last body proclaimed on May 28, 2008, the establishment of a democratic federal republic, which ended more than 240 years of monarchy. Nepal is considered a multicultural, multilingual and secular state. Despite being a small state, compared to its huge neighbors. The country has a wide and diverse variety of territories, ranging from the humid wooded plains of the Terai to the highest and iciest peaks of the earth.
The Nepali people are mainly Hindu, despite having an ancient and deep Buddhist tradition, centered in the town of Lumbini, birthplace of Siddharta Gautama. Much of the population is concentrated in the valley and the city of Kathmandu, which is the capital of the State. The official language is Nepalese, the official currency is the Nepalese rupee, and the flag has the peculiarity of being the only one of a State that has no rectangle or square shape.
Nepal, an autonomous Kingdom, lies between 80 degrees 12′ east longitude and 26 degrees 22′ and 30 degrees 27′ north latitude. It is constrained on the north by the Tibet Sovereign Region of the People’s Republic of China; on the east by Sikkim and West Bengal of India on the south by the Indian States of Bihar and Uttar Pradesh and on the west by Uttar Pradesh of Indian Union.
The length of the Nation is 885 kilometers east-west and its width varies from 145 to 241 kilometers north-south. Climatically, it lies in the mild zone with the added advantage of elevations. Nepal covers 143,352 square kilometers of land and 3,829 square kilometers of water, making it the 92nd largest nation in the world with a total area of 147,181 square kilometers.
Nepal is located between two giants of Asia, the People’s Republic of China and the Republic of India. That is why sometimes it is called as “yam sand witched between two rocks”.
Nepal is a land-locked country surrounded by Tibet autonomous region of the People’s Republic of China to the north and by the Republic of India to the east, west, and south. Modern Nepal was created in the latter half of the 18th century when Prithvi Narayan Shah, the ruler of the small principality of Gorkha, unified many small states.
Nepal remained independent throughout its history. The capital city of Nepal is Kathmandu. Basically, the Nepalese economy is agro-based which contributes around 32 percent of GDP.
In the world economy, Nepal is categorized as a developing third world country. Still, 24 percent of its people are living below the poverty line, earning less than a dollar per day. The per capita GDP is only $ 320, lowest among the SAARC region.
Besides this, Nepal is blessed with some historical movements, cultural diversity, and natural resources. The highest peak in the world also known as the third pole- the Mount Everest lies in Nepal. Eight of the ten world’s highest Mountains are located in Nepal.
Lumbini, the birthplace of Lord Buddha proponent of Buddhism which beliefs in non-violence and peaceful existence of mankind, also lies in Nepal. Pashupatinath, Lord Shiva, the epitome of more than one billion Hindus, is situated in Kathmandu. Similarly, Nepal is the safe habitat of thousands of flora and fauna. Nepal has unity among diversity.
On April 25th, 2015, a 7.8 magnitude earthquake struck Nepal with the epicenter at Barpak of Gorkha, with a series of strong aftershocks including one of 6.7 magnitudes, and triggering avalanches in the mountains. It was the worst earthquake to hit Nepal in 80 years.
Estimates indicated more than 8000 people died and many more were injured. On May 12th, 2015, a second, 7.3 magnitude earthquake struck Nepal, again with strong aftershocks. The United Nations estimated that approximately eight million people had been affected by the earthquakes. Destruction of buildings, roads, and other infrastructure will make re-building a long-term challenge.
Nepal was founded as a definite and original country in 1768. The population of Nepal is 29,890,686 (2012) on and the nation has a density of 209 people per square kilometer.
Position of Nepal in relation to the equator and in the globe
What is the Equator?
As the Equator is known, in geography, the imaginary line, equidistant from the two geographical poles. And perpendicular to the axis of rotation of the Earth, which divides the planet into two hemispheres: north and south. By definition, the latitude of the equator is 0 °.
The plane of the equator cuts the surface of the planet in an imaginary line (a maximum circle) that is equidistant – it is exactly at the same distance – from the geographical poles.
The equatorial circumference of the Earth measures about 40,075 km. Its radius is 6,378 km. The line of the equator is the closest point to the sky due to the shape of the Earth. The equator is the parallel of 0 ° latitude, also perpendicular to the Greenwich meridian.
It measures approximately 40,075 km. It is the only one of the five notable circles in the latitude of the Earth that is strictly a circle, as is the imaginary trace that results from its projection on the celestial sphere.
The other four notable “circles” are the two polar circles and the two tropical circles (Tropic of Cancer in the Northern Hemisphere and Tropic of Capricorn in the Southern Hemisphere). The Sun passes over the equator twice a year (at the equinoxes of March and September) in its apparent movement through the sky, called seasonal motion.
An equinox is defined as the moment in which the rays of light coming from the center of the Sun are perpendicular to the surface of the Earth at the equator, which in turn determines that at the equator the sun is at its highest point. 12:00 solar time and the Sun is located at the zenith at that time.
In the regions located on the terrestrial equator, the duration of the sunrise and sunset is shorter than in the rest of the planet, because, during the whole year, the Sun “appears” and “hides”.
The duration of the day at the equator is practically constant throughout the year. Approximately 14 minutes more than the night, caused by atmospheric refraction and because the sunrise and sunset are not determined by the passage of the Sun’s center on the horizon. But by the passage of the edge of the solar disk.
Therefore, the dawn moment precedes the passage of the sun’s center through the horizon, and the sunset is after the passage of the Sun’s center along the horizon line.
What is latitude?
It is the distance, measured in degrees, that exists between any parallel and the line of the Equator. The latitude of a point is measured to the north or south of the parallel zero. If the latitude is North, it means that the analyzed zone is located in the Northern Hemisphere, and if it is South, it means that it is in the Southern Hemisphere.
The latitude is the angular distance between the equatorial line (the equator), and a determined point of the Earth, measured along the meridian in which this point is. Depending on the hemisphere in which the point is located, it may be north or south latitude.
The latitude provides the location of a place, in a North or South direction from the equator. And is expressed in angular measurements that vary from 0 ° of the Equator to 90 ° N of the North pole or 90 ° S of the South Pole.
This suggests that if we draw a line that goes from any point of the Earth to the center of it, the angle that that line forms with the equatorial plane express the latitude of that point.
The North or South orientation depends on whether the marked point is above the parallel of the equator (north latitude) or if it is below this parallel (South latitude). The latitude is measured in degrees (°), between 0 and 90; and it can be represented in two ways:
- Indicating to which hemisphere the coordinate belongs;
- Adding positive values -north- and negative -sur-.
Thus, ten degrees in north latitude could be represented 10 ° N or + 10 °; and ten degrees south could be 10 ° S or -10 °.
What is longitude?
Geographic longitude is one of the two coordinates that the position of points on the surface of the Earth and is measured in angular degrees (the second coordinate is latitude). Longitude is directly related to the meridians of them because it is the meridian lines that have angular degrees of longitude. All the meridians converge at the poles of the Earth.
Each meridian is half the great circle of the earth and each meridian has one longitude along the entire length of the meridian. Or on the other – all points of the earth’s surface lying on the same meridian have the same geographical longitude. In order to calculate and determine longitude, an initial meridian with zero value (0 °) of longitude is required.
At different times there were different initial lines of reference. Ultimately, it was decided that the line of zero longitude runs from the North Pole to the South Pole through the Greenwich Laboratory, located in England on the eastern outskirts of London. This line is also called the zero, main, Greenwich meridian or simply Greenwich.
The numerical value of longitude (degrees) indicates the angular size at the center of the Earth between the plane of the zero meridians (Greenwich) and the plane of the meridian of a point on the earth’s surface to the east or west of the zero meridians. The shape of the Earth can be compared with a sphere. Therefore, the circumference of the earth can be divided into 360 degrees. It is considered that each degree corresponds to one meridian.
Therefore, we have 360 longitude meridians. Accordingly, there are 180 degrees of longitude east of the zero meridians, which have positive values and are called east longitude meridians (denoted as E). There are also 180 degrees of longitude to the west of the prime meridian, which have negative values and are called western longitude meridians (denoted as W).
The longitude reading in angular degrees should be started from the zero meridians (Greenwich) to the east or west, depending on which half-width of the geographical object you want to calculate on the surface of the Earth. The meeting of the eastern and western meridians takes place in the Pacific Ocean at the 180th meridian of longitude.
Position of Nepal: Nepal is at latitude 28.3948574 degrees North and longitude 84.1240082 degrees East. It is part of the continent of Asia and is located in the northern hemisphere. Geographical coordinates of Nepal in degrees and decimal minutes: Longitude: E 84 ° 0’0 and Latitude: N 28 ° 0’0.
Where is Nepal Located on the world map
To know where Nepal is, we have to look at the southern part of Asia. It is a small country that is located in the northern part of India and in southern China, just before reaching the countries that encompass Southeast Asia such as Thailand, Vietnam, Burma Laos and Cambodia. Enclosed between two Asian giants (India and China), Nepal has been described as “jelly between two rocks”.
Nestled in the majestic Himalayas (which in the Sanskrit language means ” residence of the snow ”), the country is full of mountains and hills. It’s a little bigger than Bangladesh. Nepal has no maritime coasts, it is surrounded by India on three of its sides, while its northern border is the People’s Republic of China, through Tibet.
It is separated from Bangladesh by a small step known as the “hen of hen” or “Siliguri Runner”, through the Indian State of Western Bengal. And 88 kilometers away from Bhán, by the also Indian State of Sikkim. This special geographical situation is hard since for the transit of people depends almost in its entirety of India, as well as China for the importation of goods.
For such a small country, Nepal has an immense geographical variety, which extends from the Great Plain of Terai (the northern edge of the Ganges basin located at 300 meters above sea level) to the 8,800 meters of Mount Everest (called the Sagarmatha in Nepali ).
From the low territories of the Terai, the land begins to rise progressively, crossing different mountain ranges until the imposing wall that conforms the Himalayas.
The increase in height is interrupted by intermediate valleys between the cords, where most of the population of the Kingdom is located. These geographical variations translate in turn into great biodiversity of species.
Where is Nepal Located on a World Map
Here is a photo of which you can see Where is Nepal Located on a World Map. You can see fairly and clearly where is Nepal on a world map. See where is Nepal?
Nepal is situated in the northern hemisphere, known as a land of Mt. Everest. Having a boundary line of 2400 kilometers, Nepal is surrounded by China to the north and India to the east, south, and west.
The natural grandeur of the Himalayas, Nepali diverse cultural heritage, and profound Hinduism as well as the easy approach to Tibet and India make Nepal rank among the top 10 travel destinations in the world.
Geographically, the country is divided into three East-West ecological be the Northern Range – Mountain, the Mid Range – Hill, and the Southern Range – Terai (flat land). Nepal occupies 0.03% of the world.
Nepal almost contains every type of vegetation and structure of the world even in such a small area. In the northern range, the Himalayas form an unbroken mountain range which contains eight peaks higher than 8,000 meters, including the world’s highest peak Mt. Everest.
The middle range is captured by gorgeous mountains, high peaks, hills, valleys, and lakes. The Kathmandu Valley lies in this region. The southern range of almost 16 km. to 32 km. North-South consists of dense forest areas, national parks, wildlife reserves and conservation areas, and fertile lands.
Nepal is divided into five north-south development regions: Eastern Development Region, Central Development Region, Western
Development Region, Mid-Western Development Region, and FarWestern Development Region. The country is further divided into 77 administrative districts, among which two of them are recently added due to the formulation of 7 states and that district was parted during the mapping of state.
The sovereign right to name those state and those district were given to the federal state. In the world map, it may be a small country, but the topography and climate represent the whole world.
Where is Nepal in the world (Area of Nepal and it’s rank in the world)
The area is a measure of the extent of a two-dimensional region of a or the extent of a surface’s extension. As for the other geometrical measures, for the precision, one should distinguish between the two-dimensional region (set of points) and its area (numerical value associated with the previous one). Often, however, in common speaking but also in scientific exhibitions, the term area, and the term surface are used interchangeably.
The territory of a state is a part of the globe (including the land and its subsoil, water and air), which is under the sovereignty of a particular state and within which its institutions exercise state power. Territorial supremacy is part of the sovereignty of the state.
The territory of the state consists of land territory (mainland, islands, enclaves); water area (inland waters and territorial sea 12 miles wide). Internal waters include port waters, waters of bays, bays, estuaries, and straits that historically belonged to a particular state. Waters of rivers, lakes and other bodies of water whose shores belong to a certain state.
The subsoil of the earth, located under the land, water area, as well as the bowels of the continental shelf. The depth of the subsoil is not limited and theoretically spreads to the center of the Earth. The airspace above the land and waters of the state.
The altitude limit of the air territory is not set. The altitude limit of the airspace under state delimits it from outer space, subordinate to the international regime. The territory of one state is separated from the territory of another state by state borders, which define the limits of state territory and the spread of territorial supremacy.
There are also special concepts of the territory, for example, the customs territory. In principle, it coincides with the territory of the state, but with some exceptions, for example, it does not include free customs zones and free warehouses in ports. The procedure for establishing boundaries includes delimitation – the establishment of the state borderline on a large-scale map. Demarcation – the establishment of the state borderline on the ground.
The territory of the state and its borders can be changed on the basis self-determination of nations; voting of the population of the disputed territory about its nationality. Assignments – agreements of states on territorial concessions on a compensation basis. Rejection of territory – territorial changes aimed at eliminating the possibility of illegal actions from them.
Various units of measurement have been and are still used for the area. In the past, units were chosen on the basis of local needs and, particularly in the rural world, there were different measures even in neighboring regions. Subsequently, starting from the Enlightenment thrusts, rational and unifying definitions were given. Here we present the most important units.
- Square meter (m², sometimes incorrectly written square meters) – is the unit of the International System of Units (SI)
- Square centimeter (cm²): 1 cm² = 0.0001 m² – is the unit of the CGS system
- Ara: 1 ara = 100 m² (used to measure the extent of land)
- Hectare: 1 ha = 10,000 m² (used to measure the extent of land)
- Day: 1 day = 3810 m² (used to measure the extent of land)
- Square kilometer: 1 km² = 1,000,000 m² (used to measure medium and large areas (municipal, provincial, regional, national, continental and planetary areas)
- Square foot: 1 square foot = 0.09290304 m² – (Anglo-Saxon unit of measurement)
- Square yard: 1 square yard = 9 square feet = 0.83612736 m²
- Square mile: 1 square mile = 2.589.988.1103 m²
- International acre: 1 acre = 4.046,8564224 m²
By taking all these considerations, the area of Nepal is 147,181 sq.km. The country rank 93rd largest country in the world. It measures about 800 kilometers along its Himalayan axis by 150 to 250 kilometers across.
Nepal in Asia
The map of Nepal is of roughly rectangular shape. It runs in the northwest-southeast direction, stretching about 850km from west to east, 200 km from north to south. It lies in the southern part of Asia, in between two giant countries India and China.
At the foot of the Himalayas, Nepal is home to eight of the world’s ten highest mountains, including Mount Everest, the highest one in the world. Mount Everest is also called as the third pole of the world. Nepal occupies 0.3 percent of Asia, but most of the vegetation, water resource of Asia are of country Nepal.
Nepal is the richest country in the Asian country. But Nepal is a landlocked country that it is not accessed by the sea routes. So, it has to depend upon China and India for trade. About 98% of the total trade material is imported from India.
The land of India is plain and that of China is of high hills and Himalayan, and hence this is the reason why Nepal prefer Indian route for Trade. Similarly, Calcutta Bandargaha of India is nearest to Nepal, from where Nepal supply the trade material.
Some Major Facts about Nepal
Nepal started planned development efforts more than 60 years ago. But due to the political instability, corruption and dependency on trade with a neighboring country, Nepal has not to make the pace in the economic sector. So a major part of the country capital is remittance.
Millions of Nepali youth are supporting the Nepal economy sector through the remittance but, due to most of the human resource is in abroad, it signifies that Nepal could not manage the domestic employment to those youth and moreover youth are usually get brain drain due to the political instability and lack of policy to secure the investment.
After the end of the monarchy and with the peaceful environment, the revenue of the government has been drastically increased. And now Nepal has recently recovered from a decade-long internal conflict, political turmoil and the destruction of the earthquake.
The transition from political change to socio-economic transformation is presently going on. Nepal has the challenge of institutionalizing political achievement along with the socio-economic development of the country. The main priority of the present government is to increase the pace of development activities and administrative reform.
Being an advisor, Asian development bank is looking at the capital and economic development of Nepal from very near. Every year they release out the status of the capital and the economic state of Nepal and it is also the official index used in a different sector of Nepal.
Nepal has recently faced destructive earthquake as well recently huge rain all over Nepal has destructed many life, farm and animal due to flood in Terai and landslide in the hilly region.
And looking this, ADB has made their assumption of all over economic and development status. They predict that despite suppressed services output because of the deceleration of remittance inflows, a bumper agricultural output but most of the land were swept by flood and landslide, with this it prospects of a pick-up in post-earthquake reconstruction in the last two quarters of FY2017 and an improving investment climate warrant an optimistic growth outlook than the previous update.
The above average monsoon rains and the convenient availability of agricultural material, mainly chemical fertilizers, give us the expectation that it would help to boost agricultural output.
Similarly, there was an improvement in power supply, and hence resumption of manufacturing activities following the condition after the earthquakes in 2015 and economic blockade of India in 2016,
And the pace of post-earthquake reconstruction works makes expectation to boost up the demand and hence the industrial output. The index of deceleration in remittance inflows with some effect of the demonetization of higher value currency notes in India will suppress the activities of the service like trade and financial transactions to its potential level. However, services output are expected to be higher than that of two last years.
Looking to overall, the slow pace in the acceleration in post-earthquake reconstruction, as well due to slightly increasing in demand following the increase in the value of housing grants as well due to the series of election-related expenditures had made negative index as the headwinds from the demand decreasing effect become the reason of deceleration of remittance inflows.
Similarly, sudden demonetization shock of India plus some extent of political instability and misunderstanding in the Terai region are the additional reason. However, there obviously remains some uncertainty in the intensity of these opposing forces. Hence, gross domestic product (GDP) growth (at basic prices) is forecast to grow between 5.2% and 6.2% in Financial Year 2017.
Now looking to the Budget of Nepal the total expenditure outlay for Financial Year 2017 is NRs1048 billion (an estimated 39.5% of GDP), which is 28.1% higher than the budget estimate for FY2016 (Table 2). The FY2017 outlay comprises NRs617.2 billion for recurrent expenditures (58.8% of the total outlay), NRs311.9 billion for capital expenditures (29.7%), and NRs119.8 billion for financial provision (11.4%).
The substantially larger size of the budget is due to the large increase in recurrent and capital spending. The outlay for recurrent expenditure (equivalent to 23.3% of GDP) is 42.2% higher than the revised estimated expenditure in FY2016.
The planned capital spending has been increased by 96.1% over the FY2016 revised estimate (equivalent to 11.8% of GDP). A total revenue target of NRs682.8 billion (25.7% of GDP) has been set for FY2017, including projected foreign grants of NRs106.9 billion (4.0% of GDP) and principal repayment of NRs10 billion.
The budget deficit is to be financed by foreign loans amounting to NRs195.7 billion, domestic borrowing of NRs111.0 billion, and the FY2016 cash balance of NRs59.4 billion. Net foreign loans and net domestic borrowings are projected to be 6.4% and 3.5% of GDP, respectively. About Rs141 billion has been allocated for post-earthquake reconstruction and rehabilitation in FY2017.
Talking about the expenditure of the government, the monthly expenditure pattern and system is similar to the ones that were seen in the previous years. Actual spending was just 26.2% of the planned spending by the first half of Financial Year 2017, the same as in the first half of 2015 but lower than 30.2% in the same period in FY2014.
Actual recurrent spending was 35.4% of the planned recurrent budget, higher than 30.9% in the first half of FY2015. However, capital spending was just 11.3% of the planned capital budget, lower than 12.6% and 13.5% in FY2015 and FY2014, respectively.
It is very likely that actual capital spending will heavily bunch in the last quarter of FY2017, indicating a persistently weak budget execution capacity of the government. Looking back to 2016, Gross domestic product (GDP) grew by an estimated 0.8% in FY2016 as the lingering impact of the catastrophic earthquakes in FY2015, slow post-earthquake reconstruction, and crippling supplies disruption stymied economic activities.
This was the lowest economic growth since FY2003. The agricultural sector, which comprises about 33% of GDP and provides a livelihood to almost 76% of households grew by an estimated 1.3% in FY2016, marginally higher than 0.8% in FY2015. In addition to the unpredicted heavy monsoon and long drought, and the slow rehabilitation of households, agriculture, and people after the earthquake as well the loss of agricultural land due to landslides have affected the output of both summer and winter crops and decrease the production.
However, foreign direct investment (FDI) have a commitment is also recovering as investors remain optimist change on the economic outlook with the improving electricity supply, by recovering consumption demand, and with the approval of key laws and policy related to the industrial sector.
FDI commitment increased by 27.8% in the first half of FY2017 compared to a negative growth of 83.6% in the corresponding period in FY2016. However, the growth rate is still lower than 172.1% achieved in the first half of FY2015.
Facts about the economy of Nepal
- Most of the macro-financial data of the first ten months of 2016/17 show that the economy is gaining traction. Nepal is ranked as a third fastest growing economy in the world in 2017 as per to a report of the World Economic Forum. The economy rebounded strongly in 2016/17 following a good monsoon, reconstruction efforts after the 2015 earthquake and normalization of trade with India. The GDP growth estimate of 6.9 percent demonstrates an optimistic growth outlook at least in the short term.
- The government is targeting a growth of 7.2 percent in 2017/18 as economic activities are expected to expand due to increased government expenditure from the elected local governments. Acceleration in reconstruction works will potentially increase trade deficit further at least in the near term. An expected increase in foreign aid and foreign direct investment will, however, be instrumental in keeping the country’s balance of payments in surplus. Decelerated growth in migrant workers’ remittances is moderating deposit growth. Going forward, bridging the gap between deposit and credit growth is the key to reducing financial frictions.
- The consumer price inflation has been hovering below 4 percent since the last six months. This is attributed to the previous year’s base price effect and improved supply situation. 4 On the external sector front, both exports and imports dropped by 17.8 percent and 0.1 percent respectively, leading to a small expansion in trade deficit by 2 percent to USD 6.61 billion in FY 2015/16. However, exports rebounded by 9.8 percent while imports surged by about 34.9 percent during the ten months of the current fiscal year, further widening the trade deficit by 37.5 percent. The export-import ratio has declined to 7.5 percent arising from the high growth of imports compared to slower growth of exports in the review period. Still, improvements in the service incomes, grants, and remittance inflows have contributed to marginal surplus in the current account.
- The overall balance of payments registered a surplus of USD 1.78 billion in FY 2015/16 and USD 504 million during the ten months of FY 2016/17. Lower current account surplus emanating from increased imports and lower remittance inflows were the principal contributing factors to the current balance of payments situation. Consequently, the gross foreign exchange reserves of the banking system surged by 17 percent to US$ 10.31 billion as on mid-May 2017. Relying on the trend of imports of the initial ten months of this fiscal year, the level of reserves is sufficient for financing merchandise imports of more than 13.2 months as well merchandise and service imports of more than 11.4 months.
- Monetary aggregates are within the expected level in the current fiscal year. Broad money (M2) increased by 10.4 percent during the ten months of this fiscal year compared to a growth of 12.3 percent in the corresponding period of the previous year. Bank credit to the private sector grew at a rate of 16.6 percent this year. On the other hand, deposit mobilization of depository institutions increased by 9.3 percent during this year compared to a growth of 11.9 percent in the previous year.
- In the fiscal sector, a higher rate of growth in resource mobilization relative to government expenditure led to a surge in budget surplus during the review period. The country remains low indebted, as outstanding total public debt, both domestic and foreign, accounts for 24.1 percent of GDP.
- Nepal’s financial sector has grown by leaps and bounds since the economy was liberalized in the 1990s. Yet, financial services have not become much effective to date. Also, the growth of this sector has remained lopsided, as many still do not have access to finance due to low financial literacy rate.
- Safe, sound and self-regulated BFIs, transparent and consumer-friendly banking transactions, adoption of international best prudential norms and best supervisory practices, mitigation of the systemic risks through an advanced approach of supervision, and ultimately safeguarding financial stability have always been the prime aims of Nepal Rastra Bank as a regulator and supervisor.
- NRB has taken a number of initiatives to consolidate the financial system. It introduced Merger and Acquisition Policy a few years ago to preserve financial stability. This policy has encouraged the merger of urban-centered institutions while according priority to the expansion of rural branches in the underserved areas.
- The NRB is of the view that the expansion of the financial sector will be constrained without the growth of the real sector. Thus, priority has been accorded to the productive use of bank credit to the promotion of the real sector and this demands the judicious use of credit and macro-prudential policies. As a competitive, efficient and healthy financial system is vital for enhancing growth, ensuring economic efficiency and maintaining macroeconomic stability, a reasonable growth of the real economy is equally important to sustain the expansion of the financial services.
- In order to establish finance-growth nexus, NRB is recently pursuing the(FSDS)Financial SectorDevelopment Strategy aiming to further consolidate the banking institutions and financial sector, reducing the interest spread, introduce provisions on credit insurance and raise the banking sector’s contribution to the gross domestic product (GDP) to eight percent.
- The overall balance of payments registered a surplus of USD 1.78 billion in FY 2015/16 and USD 504 million during the ten months of FY 2016/17. Lower current account surplus emanating from increased imports and lower remittance inflows were the principal contributing factors to the current balance of payments situation. Consequently, the gross foreign exchange reserves of the banking system surged by 17 percent to US$ 10.31 billion as on mid-May 2017. Relying on the trend of imports of the initial ten months of this current fiscal year, the existing level of reserves is sufficient for financing merchandise imports of more than 13.2 months and merchandise and service imports of more than 11.4 months.
- In the fiscal sector, a higher rate of growth in resource mobilization relative to government expenditure led to a surge in budget surplus during the review period. The country remains low indebted, as outstanding total public debt, both domestic and foreign, accounts for 24.1 percent of GDP.
Interesting Facts about Nepal
Nepal is a landlocked country in South Asia. The Himalayan range runs across the northern part of Nepal. It is bordered by Tibet (China) to the north and by India to the south, east and west.
Nepal’s climate is tropical in the south, temperate in the hills and arctic in the high altitude areas. There are five seasons: summer, monsoon, autumn, winter, and spring. In summer, temperatures in Kathmandu reach 30 degrees Celsius whilst it can be 45 degrees Celcius in the low-lying Terai region.
Winter in the mountains can be very cold with sub-zero temperatures. Even Kathmandu can be chilly with temperatures just above zero degrees.
Nepal is a small country, approximately 800 kilometers long and 200 kilometers wide, with an area of 147,181 square kilometers. It is home to eight of the ten highest mountains in the world, including the highest point on earth, Mount Everest, reaching 8,848 meters. It also has vast low-lying plains.
Three major river systems originate in the mountains and flow into the river Ganges in India. Only 20 percent of the land is cultivatable and 29 percent is covered in forest. Deforestation is a serious problem in Nepal because of the growing demands for firewood and grazing.
The main religion in Nepal is Hinduism, practiced by approximately 80 percent of the population. Buddhism, although officially practiced by only about 10 percent of the population, has an important following since Nepal is the birthplace of Buddha. Other religions include Islam and Christianity.
Nepal was a Kingdom until 2008 when it abolished the monarchy and became a democratic republic. It is ruled by a president and the government is headed by the prime minister. Widespread political instability has resulted in constant changes in government.
No government has survived more than two years since 1991. A civil war lasting for 10 years (1996-2006) resulted in the death of more than 13,000 people.
Until 1951, Nepal was an isolated agricultural society, without schools, hospitals, and electric power. Since that period, basic infrastructures have been developed. Foreign assistance still accounts for 50 percent of the budget for development. Eighty percent of the population is engaged in agriculture. Tourism is an important source of income in trekking regions and larger cities.
Tea, rice, corn, millet, wheat, sugarcane, jute, and tobacco. Besides this modern farming has improved the production of new crops and production.
Dal bhat tarkari (rice, lentils and vegetable curry) is the main dish eaten throughout Nepal. Tibetan cuisine is popular in mountain areas and cities.
There is a wide range of popular music in Nepal, both modern and traditional. Each of the 36 ethnic groups has traditional folk songs in its own language, which remain very popular with all ages. Many songs tell of the hardship of life in Nepal.
Football and cricket are the most popular sports played by Nepali people. Foreigners, however, know the country best for its trekking and mountaineering in the great Himalayas.
- Education System in Nepal
Until 1951, Education in Nepal was banned by the ruling Rana family. Today, education is still not compulsory though primary education is free. Even until the 1980s, very few girls were sent to school.
This contributed to very poor literacy rates which are still low at just 58 percent. In fact, only 76 percent of children complete primary school and only 29 percent attend secondary school.
Schools, especially those in rural areas, are often inadequately resourced, and staffed by untrained or poorly trained teachers who use rote learning methods. Children learn to only memories information and rarely question or analyses.
Most rural schools are the Nepali language, with English language schools in cities. At the end of a Grade 10, national level secondary education examination is conducted. As students must pass every subject, the success rate remains low, particularly in rural areas.
30 Amazing Facts About Nepal You Probably May Know
Some Amazing Facts About Nepal You Probably May Know!!
Amazing Facts About Nepal: Are you Nepali? It’s Ok. Are You Non-Nepali? It’s Good. Do you think you know Nepal very well? Now, it’s time to think again. Well, this article contains some amazing facts about this wondrous country that will surely amaze and intrigue you. Even the most exhausted traveler’s feet will start to itch again.
Nepal still manages to preserve a culture that is precisely its own thought it lies sandwiched between the two tyrannical land masses and national powers that are India and China.
We all know the delight of visiting Nepal include the majestic gigantic peak of Mount Everest, which kisses the sky at 8,848 meters. But did you know that 8 out of 10 world’s highest mountains are found within the comparably small 143,000 km2 that Nepal occupies? Nepal is a truly unique travel destination which is auspiciously recovering from the destructive earthquake in April.
There are a lot of things in Nepal than Mount Everest and the Himalayas. From endangered wildlife to sacred cows; from mustard seeds to Yeti, this landlocked country is full of fascinating facts. Charmed? Then read on!
1. Nepal has one of the world’s slowest download speeds. Global average download speed is 17.2 Mbps whereas Nepal has only 6.4mbps average speed of downloading.
2. About 60% of the Nepali people surf the internet with a speed which is below 1 Mbps.
3. The total distance of Nepal’s railways is 59 Km.
4. Nepal was once named as the capital of weed.
5. Nepal is the only place where we can find the living Goddess called Kumari.
6. Not even a single drop of blood has ever been shed in Nepal in the Name of a religious and ethnic riot.
7. 92.1% of Nepal’s energy comes from hydroelectric Plants. Rest of them comes from fossil fuels.
8. BUNGEE JUMPING -With a 160-meter jump, it is one of the highest jumps in the world which gives the breathtaking view of the Bhote Koshi River.
9. Bob Seger wrote a song called Kathmandu in 1975. Check it on youtube.
10. Nepal has the world’s densest convergence of World Heritage sites.
11. The total number of people living in Nepal is 27,47,4000. Whereas 741,000 people live in Nepal’s capital Kathmandu.
12. There are 125 numbers of different ethnic groups and castes in Nepal where 81.3% of them are Hindu.
13. IN 1815 Nepalese Gurkhas first began serving in the British Army.
14. There are only 3,400 numbers of Gurkhas who are now serving in the British Army down from a peak of 112,000 during World War II.
15. “Better to die than being a coward” is the motto of the world-famous Nepalese Gurkha soldiers.
16. Half the population of Nepal survives on 1$ per person/day.
17. For the people who are not Nepali, “Namaste” which is said with palms pressed together in the forms of a standard greeting in Nepal.
18. Abominable snowmen (Yeti) are said to roam Nepal but nobody has ever found one.
19. 50% of all income from tourism the Nepalese government gives to communities near wildlife reserves.
20. Bengal tiger, red panda, snow leopard, these endangered animals are all found in Nepal.
21. Nepal is called the Amazon of Asia.
22. The cow is the national animal of Nepal, the slaughtering of cows is banned.
23. 4% of children from 13-15 years old who smoke tobacco in Nepal.4
24. Apa Sherpa has scaled Mount Everest 21 times making him a world record holder.
25. The world’s shortest man of height just 54.6cm named Chandra BahadurDangi is from Nepal.
26. Nepal’s national football teams rank in 124th in the best FIFA world ranking. And 188th in the worst ranking.
27. The length of the longest lasting handshake is 42 hr 35 min, carried out by two Nepalese men in 2011.
28. Momo is a type of dumpling which is the most popular foods in Nepal.
29. Nepal rank no.1 in the terms of the world’s biggest producers of mustard seed whereas in n0.3 in terms of the world’s biggest producers of ginger.
30. Marijuana is the type of weed which grows in the gardens, on the side of the road, in ditches, on mountainsides, pretty much everywhere in Nepal.
- Brief Political History
563 BC – Light of Asia, Gautam Buddha was born in Nepal
1743 AD – Nepal was united into one Kingdom
1846-1951 – Rule of the Rana resign diminishes the supremacy of the king and creates a hereditary position for Rana Prime Ministers
1951 – King Tribhuvan regains power from the Rana rulers and proclaims a constitutional monarchy
1953 – Edmund Hillary and Tenzing Norgay are the first men to stand on the top of Mount Everest
1960 – Political parties banned under a party-less panchayat system. Many political leaders are sent to prison for up to 30 years
1990 – Demonstrations for the restoration of democracy result in an end to the ban on political parties
1996-2006 – Nepalese Civil war between government forces and Maoist rebels. A Comprehensive Peace Accord is signed on 21 November 2006.
2001 – Crown Prince Deependra allegedly shoots the King and other members of the royal family. King Gyanendra ascends the throne
2008 – Monarchy abolished and formation of the Democratic Republic of Nepal