Reminiscing Last Week: Political developments, economic insights, and NAM

KATHMANDU: Khabarhub brings you an in-depth weekly recap of notable events every Monday morning.

Last week witnessed significant political events not only in the capital city but also in Dharan, shedding light on diverse issues.

Despite the ongoing protests at the BP Koirala Institute of Health Sciences in Dharan and various decisions by the Vice-Chancellor, Prime Minister, and Chief Secretary, their efficacy remains in question.

From Prime Minister Pushpa Kamal Dahal’s staffing changes to his visit to Uganda, the week encapsulated a range of news.

The CPN-Maoist Center, led by Dahal, announced plans for a legislative conference starting February 13.

Prime Minister Dahal’s fifth inauguration of the Melamchi drinking water last week drew attention, with former leaders also participating.

Tragically, the week also recorded an abundance of traffic accidents, claiming lives and causing injuries, notably a fatal accident involving Dr. Mahesh Kumar Gautam’s family.

A Snapshot of the Economy:

Examining the first six months of the fiscal year, the government faced a budget deficit of Rs 48 billion.

Despite earning Rs 5 trillion 18 billion and spending Rs 5 trillion 66 billion in five months, the government’s expenditure surpassed its earnings by Rs 48.46 billion.

Current expenditure stands at Rs 4 trillion 37 billion, with only Rs 39 billion 24 billion allocated for capital expenditure.

Capital spending remains at a meager 16.3 percent.

Finance Minister Dr. Prakash Sharan Mahat asserted that the economy is on an improving trajectory, but reports from the National Statistics Office and Nepal Industry Confederation provide mixed signals on economic growth.

Foreign trade statistics also revealed a 3 percent decrease in imports, affecting customs revenue and domestic economic activities.

Meanwhile, exports declined by 7 percent. The NEPSE index reached a six-month high in stock trading.

Additionally, the week celebrated Maghe Sankranti with enthusiasm across various castes and cultural communities. Newar community festivals and Jatras added to the festive spirit.

As the week concluded, political parties intensified their campaigns for the upcoming National Assembly elections on January 25.

Prime Minister and Foreign Minister’s visit to Uganda included assurances that Nepal would refrain from participating in any military alliance.