Where is Our Future ?

I get frenetic about the way political events churn out in our country. Since the dawn of democracy, the political parties have been fooling Nepalese in a way or other. Surprisingly for a country where 73 percent of the population is under 35 years of age and 50 percent is under 18, most of the political leaders who represent us are elderly, who discard the involvement of youths.

It is said that “The best way to predict the future is to create it.”  A hope for a prosperous Nepal rests in the hand of youths who are the future of this country. But instable political system have been creating impediment for the youths to lead the socio-economic progress in the country.

Emigration by youths is record high, a large chunk of youth have become prey of political parties and are spoiling their prime time without utilizing their ability  in creative and promising works etc. Contrastingly, there is also a small chunk of optimistic youths who tirelessly toil for better situation of the country. The eminent need of the time is to create a favorable ambience for a rapid socio-economic progress through reforms via critical inquiry of the past and current situation of the country. Such a noble task should be spearheaded by youths and without any delay. 
(Published in The Himalayan Times, dated March 20, 2015)

Culture of Volunteerism

Volunteerism is an action at free will directed in offering of service to others. The general notion of it being that receiver will be benefitted. Though this belief if valid, most of the time the opposite is also true. The volunteer who offers help gets more benefited than the receiver.

The benefit to volunteer can range from the psychological satisfaction derived from helping others to numerous other benefits like access to vast network of like-minded kind people, improvement in interpersonal communication, confidence boost-up, etc. 

For a nation where volunteering is an established culture, the country benefits the most because of the proactive nature of its citizens. These proactive citizens have a positive mindset, who are optimistic and of cooperative nature. In Nepal the concept of volunteerism has been popularized with the proliferation of social organization like Rotary clubs, 

Lions club, Scouts, Red cross and many other I/NGOS’s. A contemporary example can be the success of Bagmati river cleaning program since a long period of time. 

A quote that always motivates me to help others.

(Published in The Himalayan Times, dated March 18, 2015)

FDI in Nepal: An Overview

Amish Dhungel

Dwaipayan Regmi

Foreign Direct Investment (FDI) is a remarkable indicator of a country moving into free market and accepting globalization. One of the potential markets for FDI is developing countries, as such countries have abundance of valuable resources that are untapped. Besides, FDI helps these developing countries to balance the gap between desired investment and domestically mobilized savings. Widely believed notion is that FDI role is tremendous in terms of bringing wave of economic changes that would benefit a country, and that is even more in case of developing country like Nepal.

Often referred to as a major tool of globalization post early 1990s, FDI increases ownership of assets across the national frontiers. FDI provides a country with access to global talent, global managerial skills and knowledge, optimum utilization of human capital and natural resources, enhances exports, makes industry competitive, provides forward and backward linkages and access to international quality product offerings, and facilitates more employment opportunities.

In the context of developing countries like Nepal, FDI can be regarded as lifeblood for rapid economic development.  FDI contribution to all round development of economy is crucial. Indian Management guru, Ram Charan reflects the importance as: “No country ever has grown without FDI, including America. FDI is not only money it’s what comes with it: technology, managerial knowhow, risk-taking.” Though Liberalization of national economy in 1990s opened door for FDI in Nepal, the country hasn’t been successful to attract significant amount of FDI.

The Foreign Investment and Technology Transfer Act 2049(1992) shapes the basic foundation for Investment in Nepal. The policy seems liberal. There is easy entry, as one can get ‘non tourist visa’ for six months if they tend to invest in Nepal. They can take every penny that they earn out of profit, share, dividend, equity and interest back to their country. There is no any Government interference in case of any dispute with the local stakeholders. The case will rather be solved following United Nations Commission on International Trade Law. Again, foreign investors are allowed to hold 100% ownership in any business apart from cottage industry and other few sensitive places.

The policy is beautifully designed, but the practical side is loaded with lots of side effects. Any foreigner cannot own land in Nepal. FDI is restricted for the ownership of commercial banks up to 66% only. There are various places where Government is enjoying monopoly; as such it is difficult for foreign investor to enter into these sectors. Nepal Electricity Authority, Nepal Drinking Water Corporation comes into these sectors. Foreign investors are not granted equal right as that of domestic investor. For instance, a foreign investor pays double rate to register a trademark. Above all, one can note that there is a political disturbance that creates fear within the mind of foreign investors. Government has not yet been able to take risk for their loss because of political disturbances. Failure of BIPPA has also showed negative impact to foreigners regarding investment in Nepal.

Despite the dark sides and limitations of the policy, there are rays of hope as well. World Bank’s Ease of Doing Business Indicator 2015 ranks Nepal as second best destination among the SAARC countries for investment. There are educated mass, who are always turning pages for looking job opportunities. This indicates, large number of educated mass is looking for job, so any investor would get educated manpower at comparatively low price. Nepal has recently come up from the ten years of civil war. History indicates that industries built after war times have been long lasting, so this hypothesis shows that this is appropriate time to invest in Nepal too. There are problems in sector of communication, electricity, water, fuels. But, these problems are actually opportunities for the investors.

After the end of ten years of Maoist insurgency, Foreign Investment in Nepal has showed a positive symptom. Although, the Investment Year 2012/13 effectiveness can be kept as a separate question to be answered, we can see that Nepal has received Rs 19.93 billion of FDI in the year 2012/13 and that of Rs 20.18 billion in the year 2013/14. There was 0.9% increment in FDI, however, 3.8% decline in foreign investment projects.

China has been the largest investor in Nepal investing Rs 2.71 billion and Rs 7.32 billion in the year 2012/13 and 2013/14 respectively.  It is then followed by India who invested Rs 2.8 billion and Rs 6.5 billion in 2012/13 and 2013/14 respectively. After Indian PM Modi’s visit this investment from India is likely to be increased in next year. Investment in the sectors like tourism, service, mineral, manufacturing, energy, construction, agro and forestry has been getting prime concern in Nepal.

In order to attract the new investors in Nepal, first thing that Nepal can do is create favorable environment. Government need to provide security to the investors, ensure good environment for business and its operation. There is again a necessity to shape a proper monetary and fiscal policy that would attract the investors. BIPPA and other bilateral and multilateral trade agreements should be formulated and implemented properly. There is still the fear of political disturbance in Nepal, this issue has to be properly addressed, and the one planning to invest should be welcomed.

The recent development in FDI sector has been praiseworthy with the arrival of largest ever FDI project in Nepal in Hydropower sector by Indian company GMR.

For a rapid growth of economy, Nepal has no option but to attract FDI. Being sandwiched between two giant economies of the world, Nepal holds the vast potentiality of benefitting from these humongous economies via FDI.

(This article was published on The Himalayan Times, dated March 9, 2015)

Incredible MYSORE

I wanted to visit Mysore as soon as I came to India on July, 2014. There were two reason behind this.
One: I wanted to meet my dear friend Sujan.
Two: I wanted to see Mysore palace.
However this had become only a wish until and unless I decided to go all of sudden during my semester break. We had just cancelled out North India visit because of fear about Swine flu being viral as it had already taken dangerous presence all over India. The first day of vacation was passed boringly in Hostel. However, I couldn't prepare myself for three such more days. So I convinced Gaurav and finally boarded train to Mysore, the second day. That was a challenge to swine flu ;)


Mysore:

Mysore is one of the beautiful cities of whole of India. Located in Karnataka state of India, Mysore is an ancient city with rich cultural heritages and historical importance.

I happened to visit this place recently. During my three day stay in Mysore, I visited some of the prominent tourist destinations that were really amazing. One of the oldest planned cities of Asia, life in Mysore resembles to that of some European countries. Things that keep Mysore a class apart from amongst other cities of India are: clean roads and public spaces, mildly populated, no heavy traffic, many cultural and architecturally exceptional buildings, etc.

Based on my own experience, I recommend you to visit following places if you happen to visit Mysore anytime in future.

1)      Mysore Palace

It’s marvelous, really captivating, and the lights makes it really a heaven on earth !

Mysore palace during evening time, every Sunday, 7:00 pm to 8:00 pm.

Mysore palace is the official residence of the Maharajas of Mysore-The Wodeyars. The palace houses gigantic courtyards, gardens and buildings. The palace is built via use of Hindu, Muslim, Rajput and Gothic styles.

Mysore palace during morning time

Every year during Dussera festival in Autumn, the palace hosts famous Mysore Dussera which is the major festival in Mysore and a major tourist season.  The palace is a must see especially during evening time on every Sunday and some other special occasions like Dussera.

2)      Chamundi Hills

Chamundi hills houses the famous 11^th century Chamundeshwari temple on top of the hill. Situated at about 13 kms from the city and at height of 1000 meters, the view from top is mesmerizing panoramic, from where we can see beautiful Mysore.  On the midway to the hill is a statue of bull Nandi, the carrier of Lord Shiva, which is carved out of single piece of black granite ( 1.9 m tall and 7.6 m long). Hindu Mythology has it that the then king of Mysore Mahisasura was killed by goddess Chamundeswari after a fierce battle. To mark this victory Hindu followers celebrate Dussera/Dashain festival, which is the major festival in Mysore.

An evening bike ride to Chamundi hill can be really a worthwhile experience. Try it !

3)      Brindaban Garden

Adjoining to a dam called Krishnarajasagara which crosses Kaveri river is a beautiful garden called Brindavan garden. This garden is one of the most visited tourist destination in Mysore. Famous for variety of flowers and fruits, the garden is really amazing during evening time when the ambience is beautified via lights and water fountains. The construction of garden dates back to 1927 and is still one of the most favored tourist attractions in Mysore.

A major attraction here is the musical fountain where bursts of waters are synchronized to music of song.  Go there with your loved ones and enjoy the gift of nature. :)

Beautiful Sunset on way to Brindavan Garden !!

It was not only place but my greatest buddies who made travelling fun. On the first day Suwas decided to join from Bangalore. More fun to my stay was by momo party hosted by Nepalese girls, evening  bike ride, sleep upto late morning, alcohol, movie and movie and so on....such a FUN !!! I am thankful to my friends for being such a great host. Special mention to Sujan, Suwas, Sainju, Raju !! See you soon again Mysore ! Now back to default >>Chittoor!!