Nepal registers substantial growth in GDP

"Though there remain some challenges, we are handing over a sound economy to the government-in-waiting led by the CPN-Maoist," he said.     

The challenges faced by the next government include meeting the growing aspirations of people, taming inflation, checking intimidation, extortion and threats against the business community, providing security for investment and push up plummeting exports, Mahtat told newsmen.     

"Sound economic growth, rise in national savings and increase in the share of services sector in the GDP to 51.4 per cent, has created a sound base for the new government to work for a better economic outlook," he said.     

According to the government's data, revenue collection during the last fiscal year grew by 24 per cent to Rs 107 billion and remittance also grew sharply compared to the previous year.     

Foreign aid also increased from previous year's Nepali Rs 22.4 billion to Nepali Rs 34.05 billion in 2007-2008, he said.     

The Constituent Assembly yesterday passed the Advanced and Expenditure Bill worth Rs 73.53 billion a full-fledged budget for the new fiscal year could not be presented as the new government is yet to be formed.