Monday, October 15, 2018

Nepal plans to be ‘Developed Country’ by 2043

While Nepal is working towards upgrading to ‘middle-income’ status by 2030, the long term goal is to be graduated to a ‘developed country’ status in next two-decade-and-a-half.
The government is currently preparing a 25-year plan under ‘Long Term Vision of Nepal’ to graduate the country into a ‘developed nation’ status by 2043, according to Nepal Planning Commission (NPC). The commission has already prepared a concept note and also held discussions with the federal and provincial governments’ officials lately.
"The vision paper is being drafted to give the country a clear direction in achieving the long-term goal of prosperity as the country has completed political transition with the elections last year," the NPC vice chair Dr Pushpa Raj Kadel said, adding that the main goal of the vision paper is to achieve minimum level of development to be recognised as a developed country by 2043.
Besides the long-term vision, the commission is also preparing a new five-year periodic plan to be implemented from the next fiscal fiscal. According to the draft of next five-year periodic plan, Nepal aims to double per capita income in the next five years from current $1,012. "In line with the plan, the government has planned the current fiscal year as the foundation year for the future economic prosperity," he said, adding that the government is has aimed at an 8 per cent economic growth in the current fiscal year.
The country aims to zero-down poverty level, achieve per capita income at the level of industrial economies and ensure employment for nearly 40 per cent of population belonging to lower income category, he added.

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