Economic Contribution By Digital Economy In Nepal

Abstract

Nepal is a small landlocked South Asian country located between two giant nations China and India. The estimated the total population of Nepal amounted to almost 30 million in 2017. Nepal has not been able to tap its growth potential due to prolonged political uncertainty. With the power of internet and smart phones, one can now connect with anyone, at anytime and anywhere. Technological innovation and broadband connectivity is considered as a major stimulus for economic growth. With the advancement in the technology, one of the latest technologies adopted by bank is the e-banking. Most of banks of Nepal are featuring electronic banking system. They offer e banking, phone banking and mobile banking system in Nepal. TeleBanking facility was introduced in 1997 and Internet-Banking was first introduced in 2002 and SMS-Banking was launched by in 2004 but there is hot wave in India to adopt digital transaction for all economic activities, 97?onomic activity is in pure CASH in Nepal. The purpose of the paper is to put light on the politics, economics and political economy of digital-economy reform in Nepal and will consider their stances on digital-policy reform and suggest various ways the costs and benefits of the growth of the digital economic model. All sectors of the economy have adopted ICT to enhance productivity, enlarge market reach and reduce operational costs.