Question

Explain the economic features of province no. 1 of Nepal.

Answer 1

Answer:

Province No. 1 (proposed names: Koshi/Purbanchal)[2] is the easternmost of the seven provinces established by the new constitution of Nepal which was adopted on 20 September 2015.[2] With the industrial city of Biratnagar as its headquarter, the province covers other major eastern towns including Damak, Dharan, Itahari, Inarua and Birtamod and includes several mountains including the Everest, Kanchenjunga, and Ama Dablam. Koshi - the largest river of the nation, circumvents the province's western boundary. Adhering to the first-past-the-post voting system issued by the Constituency Delimitation Commission, the province hosts 28 parliamentary seats and 56 provincial seats.[3]

The province is bordered by the Tibet Autonomous Region of China to the north, the Indian states of Sikkim and West Bengal to the east, and Bihar to the south, and Bagmati Pradesh and Province No. 2 to the west.[4][5][6] According to the 2011 census, there are around 4.5 million people in the province, with a population density of 175.6 per square kilometer.[7]

Explanation:

Answer 2

The economic features of province no. 1 of Nepal are:

• Province 1 provides 15% of the national GDP, according to the Economic Survey (2018/19). From the fiscal year 2018/19, Nepal has implemented a system of measuring GDP by province. The population living in absolute poverty is 12.4 percent, and the prevalence of multidimensional poverty is 19.7 percent.
• There are 535 commercial banks, 161 development banks, and 39 finance firms, as well as their branches, in the country. Similarly, the province has 228 life insurance companies and 115 non-life insurance businesses, as well as their branches.
• Agriculture is the province's economic backbone, employing three-quarters of the people and contributing to 38 percent of GDP. The processing of agricultural products such as jute, sugarcane, tobacco, and maize is the mainstay of industrial activity. The Department of Industry has 714 registered industries.
• The agriculture and forestry sectors are the most numerous, accounting for 114 out of the total number of industries (15.96 percent ). Province 1 is responsible for 22% of Nepal's total paddy production. Similarly, the province's maize production accounts for 29.3 percent of national output.
• Province 1 has a lot of room to develop its hydropower and tourism potential. It has a hydropower potential of 34000 MW. Only 193.2 MW of hydropower has been generated out of the total potentiality as of mid-July 2018/19. Similarly, mountaineering generates the most revenue (52.4 percent) for the province.

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