Inflow of Nepal's remittance slows down

08:28, June 21, 2010      

Email | Print | Subscribe | Comments | Forum 

The inflow of remittance has started to slow down to around 10 percent against the growth rate of 40 percent in the last financial year, according to Nepal Remitters Association (NRA).

Even though the number of migrant workers has gone up by 23.7 percent in the current fiscal year, the remittance inflow has slowed down to an average of 10 percent, said Chandra Prasad Dhakal, president of NRA during an interaction organized here in the capital Kathmandu on Sunday.

According to experts, the reduced remittance flow has much to do with the transactions of the same through non-banking channels.

Around 30-35 percent of remittance is suspected to flow through non-banking channels.

The NRA suggested the government exempt tax on remittances and bring a new policy to refund the taxes collected from workers to discourage non-banking channels and an increase in remittance inflow through banking channels.

Nepal received 209 billion Nepali rupees (some 28.2 million U.S. dollars) through remittances alone in the last fiscal year.



  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Giant red lantern lights up in Tiananmen Square to celebrate the coming National Day on Oct. 1. (Xinhua/Li Xin)
  • A ceremony is held in Taipei, southeast China's Taiwan, on Sept. 28, 2011, to commemorate the 2,562nd birthday of Confucius (551-479 BC), a Chinese thinker, educationist and philosopher. (Xinhua/Wu Ching-teng)
  • The world's first Boeing 787 Dreamliner for delivery arrives at Haneda airport in Tokyo, capital of Japan, on Sept. 28, 2011. The Boeing 787 Dreamliner, whose buyer is All Nippon Airways (ANA), will implement a flight of ANA on Oct. 26 from Tokyo's Narita Airport to Hong Kong in south China. (Xinhua/Ji Chunpeng)
  • A Libyan National Transitional Council (NTC) fighter shows what is believed to be human jawbone found inside a mass grave near Abu Salim prison in Tripoli, Libya, Spet. 27, 2011. The NTC on Sunday said they had found a mass grave containing the bodies of 1,270 people killed by Gaddafi's security forces in a 1996 massacre at Abu Salim prison in southern Tripoli. (Xinhua/Li Muzi)
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
Hot Forum Discussion