A government budget is a financial plan that outlines the revenues and expenditures of a government for a specific period. It is a crucial tool for managing a country's finances efficiently to achieve economic and social goals like promoting growth, reducing poverty, and providing public services. Monitoring and adjusting the budget as needed is essential for fiscal stability and sustainability.  In Nepal, the tradition of presenting an annual budget dates back to the 1950s, with the first budget presented in 1951 covering the period from March 1951 to February 1952. This change followed the overthrow of the Rana regime in February 1951. During this transitional phase without a legislature, the first budget was presented at the end of the year BS 2007 through Radio Nepal. The budget amount was Rs. 52,529,000, with a tax collection target of Rs. 30,619,000. The then Finance Minister, Subarna Shamsher, presented the budget as part of the council of ministers led by Prime Minister Mat...

The capitalist development model is the primary approach used by the "First World" based on modernist theory of comparative politics, which seeks to understand political systems within and across countries. According to this model, Third World governments are expected to provide financial assistance for private industry expansion, transitioning from agriculture to urban industrialization. The model calls for reduced government involvement post-transition to allow industries to grow freely, potentially leading to economic growth and improved living standards. The socialist model of development emerged in the 1960s as a response to capitalist models, based on the dependency theory. It advocates for the elimination of private property and a state-led economy to improve living conditions. While emphasizing industrialization and fair distribution of goods, the collapse of the Soviet Union in 1991 undermined the credibility and momentum of the socialist model of development.

History of Development Plan In Nepal, systematic attempts to ameliorate the financial situation were initiated shortly after 2007 BS. A 20-year plan was announced during Prime Minister Juddha Shamsher's Rana system of government. The National Planning Committee was established in 1949 in order to specify the 15-year Plan. A distinct Ministry of Planning and Development was established in 1952. With the First Plan's implementation in 2013 BS, economic planning in Nepal got underway. Nepal has completed fourteen periodic plans thus far and launched the Fifteenth Five Year Plan. Vision of Fifteenth Development Plan The vision of the fifteenth plan is to encourage the nation's prosperity, development, and good governance. "Prosperous Nepal, Happy Nepali" (" समृद्ध नेपाल , सुखी नेपाली ") is the primary motto of the current 15th five-year plan. The plan focuses on establishing equitable opportunities for all citizens of Nepal and making the country a...

A.    The Least Developed Countries Low real per capita income, pervasive poverty, low literacy rates, short life expectancies, resource underutilization, and susceptibility to environmental and economic shocks are characteristics of least developed countries, often known as undeveloped countries. A significant portion of the populace in an underdeveloped economy cannot afford adequate standards of living. The Underdeveloped nations are typically characterized by: Low level of living, economic growth rate, and per capita income High economic inequality or an unequal distribution of wealth and income Significant reliance on the agricultural sector and an antiquated industrial structure The rapid population growth rate, high rates of unemployment, and underemployment Large imports and little exports Lack of funding, technology, and technical expertise A poverty cycle characterized by inadequate social and physical infrast...