Kathmandu, Jan 24: The agricultural land in the Sudurpaschim Province is gradually decreasing.
A study conducted by Nepal Rastra Bank (NRB) shows that the area covered by major agricultural crops, food and other crops, vegetables and fruits and spices has decreased by 7.71 per cent in the province.
Similarly, the production of such crops has increased by 2.85 per cent.
According to the Provincial Economic Activity Study Report for the fiscal year 2080/81 released by the Central Bank, among major food and other crops, the production of buckwheat and barley increased by 65.71 per cent and 25.03 per cent respectively. On the other hand, production of oilseeds declined the most by 18.53 per cent, states the report.
Similarly, the production of milk has increased by 4.58 per cent, meat by 9.32 per cent and eggs by 6.4 per cent.
Agriculture accounts for 10.81 per cent of the total loans disbursed by banks and financial institutions in the province. As of mid-July 2024, the loan disbursement in the agriculture sector in the province has decreased by 1.31 per cent to Rs 16.52 billion as compared to July 15, 2023.
The average capacity utilization of the industries included in the study sample is 48.96 per cent. Among the industrial products, the production of rice and wheat has increased, while the production of mustard oil, soap, brick, sugar and rosin has decreased.
By the end of the review year, the banks and financial institutions of the province have disbursed 16.75 per cent of their total loans to the industry sector. The loan disbursed to the sector has decreased by 4.79 per cent to Rs 25.60 billion compared to mid-July 2023.
Similarly, the number of tourist-level hotels and lodges has decreased by 4.17 per cent while the number of hotel beds has dropped by 1.47 per cent.
According to the study, total 171 MW electricity has been generated from various hydropower projects of the province till February 2023. RSS #Nepal
