Kathmandu. Kathmandu: Nepal Rastra Bank (NRB) has said that there are some economic challenges in Madhes province and suggested to improve them.
Releasing the study report on the province, the central bank has said that the scope of revenue should be increased by encouraging the formalization of economic activities within the province.
Due to lack of quality hospitals, doctors and various health equipment for health treatment, most of the people of the border areas have to go to Indian hospitals for treatment and the demand for Indian rupees for this is also high.
According to the study, it is a challenge to arrange necessary resources in the necessary equipment, skilled doctors, human resources and other health equipment in the hospitals of the province.
Improving the quality of government schools, prioritising vocational and technical education, and providing necessary resources to health centres in rural areas have also been shown as challenges.
There is a need to improve the quality of education by developing big and commercial cities like Janakpur and Birgunj as educational hubs in the province. In order to control environmental pollution and develop the province as a beautiful and attractive province, it has been suggested to manage the waste piled up on the roads of urban areas.
As farmers are mostly dependent on middlemen due to lack of proper market access for agricultural produce, expanding access to agricultural produce to the market and arranging fair price for agricultural produce has been shown as a challenge.
Similarly, the central bank’s study has shown that there is a need to further increase the fish production capacity in janakpur and Parwanipur, which are famous for fish farming. Modernization and commercialization of traditional subsistence agriculture, easy supply of fertilizers to make the agricultural sector competitive, fair price of the grain produced and attracting the youth to agricultural activities by arranging market.
The task of creating an environment of employment by arranging technicians, health workers, teachers and information technology experts for the operation of the service sector has also been found challenging due to the increasing trend of skilled manpower migrating abroad in the state.
It is imperative to invest the remittances received from the youths in foreign employment in the productive sector in coordination with the local level. The central bank has stressed the need to increase economic activities by preserving and promoting Janaki Temple, Parsa Wildlife Reserve, Koshitappu Wildlife Reserve, Sindhuli War Museum, Bharat Lake and other areas by properly preserving and promoting geographical and religious heritage, biodiversity, etc.
According to the study, it is challenging to complete the projects of national pride such as Postal Highway, Kathmandu-Nijgadh Expressway, President Chure Tarai Madhes Conservation Program and Nijgadh International Airport within the stipulated cost and time schedule by maintaining coordination among various stakeholders and regions.
According to the study, it is necessary to increase financial access to marginalized sections by increasing financial literacy in the province and increasing the scope of revenue by encouraging the formalization of economic activities.
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