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Explore Remittance: Is it blessing or curse for NEPAL | Explained By Prashna with 66,713 views, 2,088 likes, and 256 comments. Experience the impact of this video content that has captured audience attention.

Remittances have played a significant role in Nepal's economic development, contributing to 21% of its GDP. The country has seen an exponential growth in remittances over the past two decades, with over 5 million Nepalis receiving money from working in more than 110 countries. This has contributed to an increase in living standards and a decrease in poverty rates. However, Nepal's over-dependence on remittances has not been used efficiently, with a significant portion going towards foreign debt payments and household expenses instead of productive sector investments. Despite the positive impact of remittances, Nepal needs to diversify its economy to become less reliant on them. If remittances were to suddenly stop, the country's banking system would shake, leading to an economic recession, increased inflation, and a collapse in the country's economy. Therefore, Nepal must focus on investing in productive sectors, such as agriculture, tourism, and manufacturing, to create more employment opportunities and reduce its dependence on remittances. Creative commons: Freepik vecteezy Pixabay The Prashna Team Nirmal Thapa : https://www.instagram.com/nrmlmgr/ Mandip J. Kunwar : https://www.instagram.com/iam_mandip/?igshid=NGExMmI2YTkyZg==&fbclid=IwAR0ne_2hDpvUNeWq_VvSzJlpjbHwxCnl-7RFjkD4_8GJXHCuVEvbIU8xRYc Playlists 💰Economy:https://www.youtube.com/playlist?list=PLVVlbv1UOKcb1r9he11wMqTg_AGqiDbyH Markers 00:00 Intro 01:30 How Remittance Work 02:31 History and current situation of Remittance in Nepal 03:07 Positive Side of Remittance 04:24 What if Remittance Stopped 06:18 Negative Side of Remittance 06:43 Entry of Hundi 07:19 Death case of Nepali Foreign workers 09:26 Struggle Nepali Foreign workers 11:53 Conclusion Sources: https://www.nepallivetoday.com/2023/01/22/illegal-flows-of-remittance-is-on-the-rise-finance-minister-bishnu-poudel/ https://kathmandupost.com/national/2021/08/26/amnesty-calls-qatar-out-for-unexplained-deaths-of-migrant-workers https://english.onlinekhabar.com/foreign-employment-broken-families.html https://www.onlinekhabar.com/2020/05/862331 https://kathmandupost.com/money/2022/08/17/nepal-s-remittance-earning-crosses-rs1-trillion-mark https://nepaleconomicforum.org/overcoming-challenges-and-strengthening-policies-on-remittance/ https://www.nepalitimes.com/banner/foreign-employment-revival https://kathmandupost.com/national/2020/10/10/government-indifferent-towards-plights-of-nepali-workers-in-india-labour-migration-experts-say https://myrepublica.nagariknetwork.com/news/no-records-of-students-returning-from-abroad/ https://nepaleconomicforum.org/6767-2/ https://www.theguardian.com/global-development/2021/feb/23/revealed-migrant-worker-deaths-qatar-fifa-world-cup-2022?fbclid=IwAR1T2_M-beMFUL7a5pgiMCwOETTAkumPXTZ0-FuiJf2suEw_CffNKzjeBNs #remittance #foreignemployment #economy #finance

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