Hridaya

Abstract

Nepal is only the Hindu country in the world. However, other religions are also prevalent in Nepal such as Buddhism, Islam, Sikh etc. Therefore, we can see the mixture of culture, group, religion and languages. The population of Nepal is 29.3 million and annual population growth rate is 2.132%. The national language is nepali ; however over 100 regional and indeginous languages are spoken. Nepal is an agricultural country with agriculture being the main source of occupation. The literacy rate is 57%. The GDP of Nepal is $12.6 billion and annual growth rate is 4.7%. Average Inflation Rate is found to be 11.8%. Nepal is known as to be the richest country in the world in water and hydropower. The major industries in Nepal would be garments , handicrafts, pashmina, bricks, hydroelectric power, sugar etc. The major exchange markets for Nepal are India and China, exporting mainly carpets, garments, pashmina and handicrafts items and importing manufactured goods and petroleum products. Nepal is one of the developing countries in the world with developing in some aspects but lagging behind in many aspects.

According to my analysis, various reasons are accountable for Nepal’s low economic growth and poverty. In my research, I have concluded various factors that have constrained Nepal to explore beyond its level and acquire growth and prosperity. They are listed below:

* Government And Political structure:

The main reason is always regarded to be political deficiency in Nepal. The political uncertainty and ineffective leadership contributes to its poverty. The type of institution and entrepreneurship the country adopts will highly influence its growth rate. The technology and innovation actually makes a society move forward. However, the powerful social interest group in Nepal blocks technology and innovation, limits free trade and foreign exchange and protection of property rights. The government rules and regulation and its policies have been...