JANAKPUR, May 21: The economic growth rate in Madhesh Province is projected to remain weak in the current Fiscal Year (FY) due to relatively low contribution of paddy, fishery and forestry sectors, in addition to the negative growth in the agriculture sector.
This is indicated in the macroeconomic indicators related to provincial Gross Domestic Product (GDP) released by the National Statistics Office, Statistics Coordination Office, Dhanusha, on Wednesday.
Statistics Officer Nara Bahadur Kunwar shared that the province would achieve the lowest economic growth rate in the past three years as insufficient rainfall has negatively impacted paddy and fish production.
Revised interest rate corridor system introduced
The economic growth rate was 3.18 per cent in the fiscal year 2023/24 and 2.72 per cent in the fiscal year 2024/25 in Madhesh Province.
According to the Office, the economic growth rate is decreasing due to negative impacts on Madhesh's agro production for two consecutive years.
Similarly, the preliminary estimation indicates that Madhesh Province's contribution to the national gross domestic product would be 1.31 per cent in fiscal year 2025/26.
On the occasion, member of Provincial Policy and Planning Commission, Raj Kishor Singh, opined that such problem has surfaced due to decrease in agriculture sector's contribution in Madhesh Province.
Agriculture, education, health, infrastructure and social development would be prioritized in the coming budget, he added.
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