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Rs 665 billion required for reviving country’s economy

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KATHMANDU:- The National Planning Commission (NPC) has projected that Rs 665 billion would be required to rescue the economy weakened by the corona virus pandemic.
The NPC made this projection after an analysis of the impact of the pandemic and the damage it has caused to the economy in the third quarter of Fiscal Year 2019/20. It has also brought the relief and recovery strategy on the basis of this analysis. The strategy covers pandemic control and relief, employment, continuity of projects, development of new system and promotion of self-sufficiency. The strategy has been divided into short-term, medium-term and long-term section, NPC vice-chair Prof Dr Pushpa Raj Kandel said.
It is said Rs 239 billion has to be spent for the short-term relief and revival, Rs 285 billion for the medium term and Rs 133 billion for the long-term. Review of major economic indicators, expenditures and progress of the first four months of the current fiscal year, 2020/21 was done at the 48th meeting of the National Development Problems Resolution Committee under chairpersonship of the Committee’s Chair and Prime Minister KP Sharma Oli on January 15.
The meeting analysis the impacts of Covid-19 in the country and discussed situation of the implementation of the decisions of 45th, 46th and 47th meetings of the committee, situations of budget, expenditure and arrears of line ministries and provincial government and main problems surfaced in the implementation of development projects during this period and their resolution. In the meeting, PM Oli expressed the hope that Nepal would get Covid-19 vaccine soon as a discussion with India at the foreign ministerial level on bringing in the medicine had taken place in a positive way.

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