Impacts of 1990s Economic Reforms in Nepal The reforms of the 1990s in Nepal were a set of economic and political changes aimed at transforming the country’s economy from a centralized system to a more market-driven one. These reforms were designed to promote private sector growth, increase trade, and improve living standards. The reform decisions … Read more
A contract is a legally binding agreement between two or more individuals or entities, obligating them to perform or refrain from specific actions. As defined by the Supreme Court of Nepal, a contract is characterized as “an agreement of two or more parties with conditions.” In a contract, the involved parties establish their own rights … Read more
Economic Liberalization’s Impact on Nepal’s Market Economic liberalization means reducing government control over businesses and encouraging private businesses to take part in the economy. It includes things like deregulation, privatization, and allowing more trade and investment from other countries. Economic liberalization plays a vital role in enhancing the financial and capital market sectors of Nepal … Read more
Privatization is transferring ownership, property, or business from the government to the private sector. The privatization of public enterprises is one of the important aspects of Nepal’s economic liberalization. Privatization has been taken as a means of improving the performance of public enterprises. Privatization Policy and Practices in Nepal The Privatization Act, 1994 defines privatization … Read more
Free consent is a crucial principle in contract law, guaranteeing that the individuals involved in a contract do so willingly and possess a comprehensive understanding of the terms to which they are consenting. This principle is vital for the validity and enforceability of a contract. As outlined in Section 14 of the Nepal Contract Act, … Read more
The dimension of an economy refers to various forces or components that define its structure, functioning, and performance. The dimensions of an economy include economic dimension, socio-economic dimension, industrial and agricultural dimension, and economic development dimension. Each dimension is important because it affects how resources are used and how well the economy is doing. Understanding … Read more
An economic indicator is statistical data that shows how well an economy is doing. It helps people, businesses, and the government understand the current economic situation and plan for the future. The several key economic factors that affect businesses in Nepal are: Major Economic Indicators in Nepal GDP Growth Rate: A high GDP growth rate … Read more
Dimensions of Economy and Its Importance The dimensions of an economy are the factors that shape how it works and performs. These include the economic dimension, socio-economic dimension, industrial and agricultural dimension, and economic development dimension. Each dimension is important because it affects how resources are used and how well the economy is doing, helping … Read more
A Void contract refers to an agreement that is inherently invalid from its inception. It fails to include one or more critical components, such as a lawful objective, consideration, or mutual agreement. Consequently, it is regarded as if it never occurred and cannot be upheld by either party involved. Conversely, a voidable contract is one … Read more
The socio-economic environment refers to the social and economic conditions that influence how businesses operate and grow. It includes factors like income levels, employment, education, cultural practices, market demand, and government policies that affect both businesses and the community. Socio-Economic Impact on Manufacturing Business Using a manufacturing business in a local town as an example, … Read more