A Desk Top Study : Impact of COVID-19 in the Economy of Nepal

Nepal is an underdeveloped country. Twenty-five percent of its GDP depends on remittance, and the rest on agriculture, tourism, and industries. The foreign currency earning sector is remittance and tourism. All the sectors have a direct impact of COVID-19 on economic growth; the impact on education is immeasurable since it would be seen in the long term. The world economy suffered due to COVID-19 and likewise the economy of Nepal, all sectors were in the negative except agriculture. The migrant workers around eight hundred thousand (800000) returned home and cultivated their land. There was slow remittance inflow in the country and strained the foreign reserve of the country. It might have supported a bit of the agriculture sector. The tourism sector is heavily affected: only two hundred thousand tourists arrived in 2020, hotels were in lockdown, and workers were out of jobs, this sector has wider impacts in different sectors including industries, shopkeepers, travelers, and others. Altogether 9 million students have been affected in pre-primary to secondary schools and 6 lakhs students were from tertiary education. The impact is immeasurable since it has a long-lasting effect on the academic physical and mental health of young people.The economy is slowly returning to its normality but to heal the scar it needs time, the government has been trying to fund the areas where necessary. The government needs to increase agriculture industries and production to attract youth to the profession and create employment in the small micro-enterprises and industries