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Nepal’s Ambitious 16th Plan: Rs 11.1 Trillion Investment for Structural Transformation and Sustainable Development

May 16, 2024
Nepal's Ambitious 16th Plan

The National Planning Commission (NPC) today unveiled Nepal’s ambitious 16th Plan, projecting an investment of Rs 11.1 trillion to drive structural transformation and sustainable development across various sectors.

Dr. Min Bahadur Shrestha, Vice Chairman of the NPC, reassured that securing the necessary investment for the plan’s implementation would not be an obstacle. He emphasized the government’s commitment to collaborating with the private sector, cooperative, and non-governmental organizations, as well as development partners, to achieve the plan’s objectives.

NPC Spokesman Yamlal Bhusal highlighted the plan’s comprehensive approach, targeting structural reforms to enhance production, productivity, and competitiveness. The plan also prioritizes sustainable social protection, gender mainstreaming, modern technology adoption, environmental protection, disaster risk reduction, and evidence-based policymaking.

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“The 16th Plan aims for a holistic transformation by strengthening macroeconomic foundations, accelerating economic growth, promoting productive employment, and ensuring social protection,” Bhusal stated. “It also focuses on developing healthy, educated, and skilled human capital, along with building quality physical infrastructure.”

One of the significant targets of the plan is to achieve a per capita income of $2,351 by the fiscal year 2085-86 BS. The plan encompasses various goals, including sustainable urbanization, gender equality, poverty reduction, effective financial management, governance reform, biodiversity conservation, climate change mitigation, and achieving sustainable development goals.

The government’s commitment to addressing structural obstacles across various dimensions of development demonstrates a comprehensive approach to fostering sustainable growth and improving the quality of life for all Nepalis. The 16th Plan, with its ambitious goals and strategic focus, sets the stage for a transformative journey toward a prosperous and resilient future for Nepal.

Ditible Staff

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