The urban unemployment rate rose to 10.09% in December from 8.96% in the previous month, while the rural unemployment rate slipped to 7.44% from 7.55%, the data showed.
The rupee was also a victim of a rally in oil prices sparked by the Russia-Ukraine conflict, which pushed India's current account deficit to a record high in the September quarter in absolute terms.
While India's own general elections are not until 2024, some countries, including neighbour Pakistan, are headed to the polls in 2023.
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Little seems to be in the way of Awami League leader Sheikh Hasina successful seeking to win a fifth term overall and a fourth consecutive term as the prime minister.
Political instability has been a recurrent feature of Nepal's Parliament since the end of the decade-long Maoist insurgency, and no prime minister has served a full term after the civil war ended in 2006.