Karnali’s economic growth stands at 2.94 percent in FY 2082/83

KATHMANDU: Karnali Province recorded an economic growth rate of 2.94 percent in fiscal year 2082/83, below the national growth projection of 3.89 percent, according to a study conducted by Nepal Rastra Bank (NRB).

Karnali accounts for just 4.20 percent of Nepal’s national economy, making it the smallest contributor among the seven provinces. Its gross domestic product (GDP) at current prices is estimated at Rs 277.25 billion. The service sector accounts for the largest share at 58.41 percent, followed by agriculture at 31.52 percent and industry at 10.07 percent.

Agricultural performance remained mixed during the review period. Overall crop production declined by 0.65 percent, although the production of major food crops, including paddy, maize, wheat, millet, barley and buckwheat, increased by an average of 3.55 percent.