The government is preparing a 25-year Long Term Vision of Nepal, aiming to transform the country into a developed nation by 2043. Nepal hopes to graduate to a middle-income economy by 2030 and take another leap to a developed country in the next 13 years.

The National Planning Commission (NPC), which has prepared a concept note for the vision, held discussions with senior officials of the federal and provincial governments last week.

“The vision paper is being drafted to give the country a clear direction in achieving the long-term goal of prosperity for the people after the country gained political stability with the elections last year,” said NPC Vice-chairman Pushpa Raj Kadel. Alongside the vision paper, the NPC is also working on a new five-year periodic plan to be implemented from the next fiscal year.

“The main goal of the vision paper is to achieve minimum level of development to be recognised as a developed country by 2043,” Kadel told the Post.According to the target, the country will achieve per capita income at the level of industrial economies, reducing poverty to zero percent while 40 percent of the population in lower income category would be given economic opportunities.

Currently, Nepal’s per capita income stands at 1,012 dollars, which the government aims to double in the next five years. Poverty remains at 21.6 percent. The incumbent communist-led government considers the current fiscal as the foundation year for economic prosperity. The government has set an 8 percent economic growth target in the current fiscal. It aims to achieve double-digit growth over the next five years.

The vision paper is in line with the slogan of “Prosperous Nepal, Happy Nepalis”. The concept note seeks to define prosperity and happiness separately. High and equitable national income, development and full utilisation of the human capital, accessible and modern infrastructure and connectivity, and production and productivity are among the issues that will determine national prosperity.

People’s well-being and decent standard of living, civilised and just society, healthy and balanced ecology, good governance, democracy and national unity and dignity will be the components of national happiness. In order to achieve these goals, the concept proposes national strategies. The state will have a leading role while the private sector, cooperatives and community would be strengthened.

Formalisation of the economy, development of provincial and local economies, utilisation of clean energy, development of tourism and educational sector are other measures to be adopted.

Quality health service and technical education, modern infrastructure, domestic and international connectivity, commercialisation of the agriculture sector, use of advanced technology, inclusive employment opportunities, gender equality, balanced conservation of natural resources and their utilisation for income generation, and e-governance are the other areas of focus.

Kadel said the paper would be discussed among the stakeholders. “We plan to publish the vision paper along with the five-year plan before the end of the current fiscal year,” he said.