Nepal Endorses 15th Five-Year Plan (FY 2019/20-2023/24)

With a commitment to advance the development projects, the Nepali Government has passed the approach paper of the 15^th five-year plan prepared by the National Planning Commission (NPC).

The NPC meeting headed by Prime Minister Oli released the five-year plan for the period FY 2019/20 to FY 2023/24 that includes 18 ambitious projects.

Some of the Projects Include

• Prime Minister Agriculture Modernization Project
• Sunkoshi Marine Diversion Project
• Upper Arun Hydropower Project
• East-West Highway Upgradation
• Digital Nepal

NPC Vice-chairman Pushpa Raj Kandel, Finance Minister Yubaraj Khatiwada and PM’s chief advisor, among others were also present in the meeting.

Here are the main goals of the five-year periodic plan

• Increase per capita income to USD 1,585 against USD 1,047 of previous 5-year plan
• Achieve a minimum average economic growth up to 10.1% per annum
• Reduce poverty rate to 9% from the current 18.70%
• Increase literacy rate to 99% against the current 70%
• Achieve an average growth of 5.6% per annum in the agricultural sector, 17.1% in the industrial sector and 9.9% in the service sector

During this 15^th plan, the Nepali Government aims at securing the status of developing country from least developed country.

The government also aspires to initiate programs and projects to fulfill the dreams of ‘Prosperous Nepal’ and ‘Happy Nepali’.

The concept paper of the 15th five-year plan was endorsed by the National Development Council (NDC) in Aril 2019.

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