Impact of Agriculture on Economic Development of Nepal Using Statistical Model

Krishna Kumar Chaudhary; Anjay Kumar Mishra

Krishna Kumar Chaudhary 1 PhD Scholar, OPJS University, Churu, Rajasthan, India. 2 Assistant Professor, Madan Bhandari Memorial Academy Nepal, Urlabari 3, Morang, Nepal.
Anjay Kumar Mishra 3 Post Doctoral Research Scholar, Srinivas University, India. 4 Associate Professor, Madan Bhandari Memorial Academy Nepal, Urlabari 3, Morang, Nepal. http://orcid.org/0000-0003-2803-4918

Abstract

Nepal has many factors that influence economic development one of the factors in agriculture. The main objectives of this paper are to examine the status of the economic growth of Nepal and dependency on economic growth in Agriculture illustrating statistically.

The quantitative cum survey method is employed here to analyze the relationship between the economic growth of Nepal and Agriculture. The macro data used here are based on a secondary source. The data are taken from an Economic survey published by the Ministry of Finance, Government of Nepal.

Statistical tools like regression analysis, correlations, the coefficient of multiple determinations and the adjusted coefficient of determination have been employed

In Nepal, over the last fifteen years poverty has remarkably come down in spite of lower economic growth meaning that reducing poverty would be much easier if economic growth rate could be increased. Regarding economic growth contribution of agriculture sector to GDP is gradually decreasing every year, while that of non- agriculture sector increasing. The contribution of agriculture sector to GDP is estimated to stand 27.7% and 72.3% respectively in the FY 2019/2020 while their contribution during FY 2018/2019 was 27.0 % and 73.0 % respectively.

How to cite this article:
Chaudhary K, Mishra AK. Impact of Agriculture on Economic Development of Nepal using Statistical Model. J Adv Res Alt Energ Env Eco 2021; 8(2): 1-3.

DOI: https://doi.org/10.24321/2455.3093.202101

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