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The price of gold has increased by Rs 2, 400 per tola in the domestic market on Tuesday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 110, 500 per tola today. The gold was traded at Rs 108, 100 per tola on Monday. Meanwhile, tejabi gold is being traded at Rs 109, 950 per tola. It was traded at Rs 107, 600 per tola. Similarly, the silver is being traded at Rs 1,375 per tola today.

The economic downturn has taken a toll on investment commitments and registration of new industries in the current fiscal year. As the economic outlook of the country becomes bleak, investors are hesitant about new investment expansion. According to the Economic Survey, 2022/23, the registration of industries declined by nine percent in the eight months of the current fiscal year. A total of 183 industries were registered at the Department of Industry (DoI) till mid-March of this fiscal year 2023 compared to 201 industries during the same period of the last fiscal year. As the number of registered industries declines, the investment commitment has also gone down by 32 percent in the current fiscal year. The 183 industries registered this fiscal committed to investing a total of Rs 155bn compared to Rs 228.36bn in the last fiscal year. Entrepreneurs attribute this decline to the slowdown in investments to rising interest rates, adverse impact on the cash flow of businesses, and a huge drop in market demand for goods and services. Pashupati Murarka, former president of the Federation of Nepalese Chambers of Commerce and Industry says the ongoing economic crisis has discouraged the private sector from going to investment expansion. “As the economy is going through a recession, industrialists who earlier planned to invest in new business projects have chosen to stay in ‘wait-and-watch’ mode,” said Murarka. According to the Economic Survey, foreign direct investment (FDI) has also declined by 34.5 percent during this period. DoI registered 159 industries committing to bring FDI worth Rs 20.56bn to the country. In the last fiscal year, 149 industries were registered who'd committed to investing Rs 31.83bn. Surge in small industries' registration While there has been a decline in the registration of large industries, the registration of small and micro industries has increased. According to the Economic Survey, a total of 673,244 small and micro industries were registered in the current fiscal year compared to 550,776 industries in the last fiscal year. More than 15,000 companies registered The registration of companies/firms at the Office of the Company Registrar has decreased this year. A total of 15,187 companies were registered in the current fiscal year compared to 21,902 companies in the last fiscal year.  

The government has set aside Rs 31 billion for the expansion of East-West Highway. Presenting the annual budget for the fiscal year 2023/24 in a joint meeting of the federal Parliament today, Finance MinisterPrakash Sharan Mahat said that the expansion and upgrading of Narayangarh-Butwal and Kamala-Kanchanpur road sections would be completed within the coming fiscal year. Similarly, upgrading of Kamala-Dhalkebar-Pathalaiya, Butwal-Gorusinge, Kakadvitta-Laukahi, Pathalaiya-Narayangadh and Lamahi-Bhalubang road sections would be started. Signature bridges would be constructed over the Narayani river and Tinau river, he added. The finance minister said that Rs 31.02 billion has been allocated for expansion and upgrading of East-West Highway. The government would focus its investment in easy, safe, quality and sustainable transport infrastructures to facilitate citizen's lives and to prepare the basis of economic development, he said.

The education sector is to receive Rs 1 billion more budget in the upcoming fiscal year as compared to the current fiscal year. Presenting the budget for the fiscal year 2023/ 24, Finance Minister Prakash Saran Mahat announced that the government has allocated Rs 197.29 billion for the Ministry of Education, Science and Technology. In the current fiscal year, the budget for this sector is Rs 196.38 billion. The government has announced to make education with life-skills, modern technical and research-based while early childhood development programs would be further managed and student's retention would be run as a campaign. Likewise, the skills learned at home and abroad will be tested and certified and the new medical college would be established in Lumbini and Sudurpaschim Provinces, Minister Mahat said. Furthermore, sanitary pads would be distributed for free to one million girls. Similarly, junk food is prohibited and local products would be promoted in the day meal for the students and Rs 8.45 billion has been allocated for this program. Minister Mahat said that Rs 3.02 billion has been allocated for the distribution of school textbooks prior to the beginning of the fiscal year. As announced in the budget, the Federal Education Act will be brought and the Tribhuvan University will be developed as a research center. Likewise, the University Grants Commission would be restructured. The basic-level teachers would be adjusted in the vacant posts of the upper level and the local levels would be encouraged to appoint headmasters on the basis of free competition. Furthermore, Finance Minister Minister Mahat said that Gurukul, Madrasa, Gumba education would be mainstreamed and the curriculum of the brail script and sign language would be formulated. The minister announced that graduates of all subjects can now sit for teaching licenses and legal grounds would be prepared accordingly.