GRADE 12 ECONOMICS

Concept of Planning

• A plan is a systematic set of activities designed to achieve specific goals or objectives.
• Planning helps organize resources, guide development, and ensure measurable progress toward desired outcomes.

Fifteenth Plan (2019/20–2023/24)

Background

• Nepal’s constitution envisions a well-advanced, self-reliant, and socialism-oriented economy.
• The Fifteenth Five-Year Plan aims for:
  • Rapid and balanced economic development
  • Prosperity
  • Good governance
  • Citizen happiness

Challenges and Opportunities

• Major challenge: Achieving economic prosperity with equity and justice while improving citizens' quality of life.
• Requirements for success include:
  • Rapid economic growth via modern infrastructure
  • Quality human capital formation
  • Ending multidimensional poverty
  • Reducing income inequality
  • Well-managed urbanization and integrated settlements
  • Development of local infrastructure
  • Fair and healthy energy use
  • Advancement in information technology

National Goal

The Fifteenth Plan forms the foundation for the long-term vision: “Prosperous Nepal, Happy Nepali.”

National Objectives

• Build prosperity through:
  • Accessible, modern, and quality infrastructure
  • Productive and respectable employment
  • High, sustainable, inclusive economic growth
• Maintain quality health and education, balanced environment, social justice, and effective public services.
• Protect national dignity, freedom, and sovereignty through socioeconomic transformation and a self-reliant economy.

National Strategies

The plan outlines strategies to achieve the objectives:

• Rapid, sustainable, employment-oriented economic growth
• Ensure accessible and quality health and education services
• Promote internal and international cooperation and sustainable urban development
• Increase production and productivity
• Provide social justice and protection
• Alleviate poverty and reduce socioeconomic inequality
• Protect and mobilize natural resources and encourage entrepreneurship
• Improve public service, regional balance, and promote national unity

Evaluation of the Previous Plan (Fourteenth Three-Year Plan: 2016/17–2018/19)

• Average annual growth rate: 6.9%
  • Agriculture: 4.7%
  • Non-agriculture: 8.4%
• Some targets were not fully achieved, such as reducing the population below the poverty line from 21.6% to 17%.

Process of Plan Formulation

1. Study of existing situation
2. Define objectives
3. Set plan targets
4. Mobilize resources
5. Develop proper policies
6. Implement and evaluate