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Fifteenth Development Plan (2019/20 to 2023/24 AD)

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 rich, autonomous, socialist-oriented economy with a happy, healthy, educated, and well-living population.

Targets of Fifteenth Development Plan

The table below summarizes the indicators, the existing status of the socioeconomic indicators, and the target to be achieved by the end of the fifteenth plan.

S.N

Indicators

Current Situation

Targets (2080/81 BS)

1

Economic growth rate

6.8%

10.3%

2

GNP Per Capita

1047 US$

1595 US$

3

Population below the poverty line

18.7%

11%

4

Gini Coefficient

0.31

0.29

5

Life expectancy at Birth

69.7 Years

72 Years

6

Unemployment rate

11.4%

6%

7

Roadways

6979 KM

15,000 KM

8

Railways

42 KM

200 KM

9

Family with access to electricity

90.7%

99%

10

People with access to drinking water

88%

99%

11

Internet users

55.4%

80%

12

Hydroelectricity generation

1020 MW

5000 MW

13

HDI

0.574

0.624

14

Happiness Index

4.7

5.1

Fund/Resources of Fifteenth Development Plan

It is estimated that a Rs 9,246.39 billion fund is necessary to implement the 15th development plan. And the private, government, and cooperative sectors are the stakeholders in mobilizing the fund. The distribution of expenses by sector is as follows: 

1.     Private Sector: Rs 5,135.41 billion (55.5%)

2.     Government Sector: Rs 3,613.32 billion (39.1%) and

3.     Cooperative Sector: Rs 497.66 (5.4%)

Objectives of Fifteenth Development Plan

The objectives of this plan are as follows:

1.  To provide easily accessible, qualitative, and modern                       infrastructure, productive employment generation, and high         sustainable, inclusive economic growth through poverty                 alleviation.

2.  To provide qualitative health, a healthy environment, social          justice, accountable social service, and quality of life.

3. To protect the national benefits of democracy and sovereignty     and ensure socio-economic transformation for a strong                 economic foundation.

 Long-Term Objectives of Fifteenth Development Plan:

This plan has taken following long-term objectives:

1.     Accessible modern infrastructure and intensive connectivity.

2.     Development and full utilization of human capital potential.

3.     High and sustainable production and productivity.

4.     High and equitable national income.

5.     Well-being and a decent life.

6.     A safe, civilized, and just society.

7.     Healthy and balanced environment.

8.   Good governance, comprehensive democracy, national unity,          security, and dignity.

Strategies of Fifteenth Development Plan

The strategies of the plan are as follows:

1. Facilitate accelerated, sustainable, and employment-oriented     economic growth.

2. Facilitating accessible and quality medical care and education.

3. Internal and non-industrial immobility and the development of     residences.

4. Increasing production and productivity.

5. Provide comprehensive, effective social security and safety.

6. Alleviating poverty and ensuring equality and a justice-based     society.

7. Conservation of natural resources and development of         sustainability.

8. Strengthening of public service, provincial balancing, and     integration of central units.

9. Involvement of all tiers of government to achieve economic     growth.

Priority Areas of Fifteenth Development Plan

The following are the priority areas of this plan:

1. Development of hydroelectricity and different energies.

2. Increase the profitability, expansion, and commercialization of the farming segment.

3. Development of the tourism, industry, and business segments.

4. Development of fundamental instruction and well-being, drinking water, and sanitation sectors.

5. Promotion of good administration.

6. Development of roadways and other physical foundations.

7. Protection of natural resources and the environment.

 

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