The number of mobile banking users in Nepal has reached 29.4 million as of mid-March, according to the Economic Survey for the current fiscal year released on Wednesday. Internet banking users stood at 2.374 million during the same period.

The survey, presented by the Finance Minister Swarnim Wagle at the House of Representatives on Wednesday, shows a sharp rise in digital financial activity, with QR code-based transactions crossing Rs125 billion. Eight payment system operators and 21 payment service providers are currently in operation, the report said.

Digital connectivity has also expanded, with mobile telephone penetration reaching 103.2 percent and internet penetration rising to 145.7 percent. Fourth-generation (4G) coverage has reached 89.6 percent of the population, while digital television services cover 82 percent of households, the survey said.

In governance services, the report said 135 land revenue offices have adopted online systems, while 114 offices allow citizens to complete land transaction-related documentation online from any location.

On physical infrastructure, the survey said 456 kilometres of new blacktopped roads were added in the first nine months of the fiscal year, bringing the total blacktopped road length to 20,456 kilometres by mid-March. The country now has a total road network of 36,806 kilometres, including gravel and earthen roads.

Local infrastructure expansion slowed, with only 7 kilometres of new road extension recorded during the review period. The report noted that total road extension stands at 68,100 kilometres.

Under the new cities project, only 34 kilometres of blacktopped roads have been constructed over the past decade and a half. The project, initially designed around 10 cities along the Pushpalal (Mid-Hill) Highway, has now expanded to 54 cities, with work currently concentrated in 12 locations due to budget constraints, the survey said.