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Govt eyes 5.5pc growth
KATHMANDU, MAY 19 -
The government's advisory body responsible for formulation of development plans and policies of the country has targeted 5.5 percent annual growth in its three-year planning beginning later this year.
In connection with this, the National Planning Commission (NPC) is organising a two-day meeting of National Develo-pment Council in the Capital on May 23-24 to finalise the planning's draft and endorse it.
The draft has targeted to achieve agricultural growth by 3.9 percent and non-agricultural growth by 6.4 percent. It has also aimed to increase per capita income by 3.3 percent and employment by 3.6 percent annually.
"The new plan will focus development of physical and social infrastructure, tourism, industries and export sectors to create more employment opportunities and achieve economic growth," said Dinesh Devkota, acting vice-president of the NPC at a press meet on Wednesday.
The planning has projected the annual inflation rate to hover around at 7 percent during the three-year period. The size of the new plan is Rs. 10.19 trillion, of which 57 percent will be spend under recurrent expenditure title, 36 percent under capital expenditure and around 7 percent for payment of principle and interest. The revenue contribution would be 34 percent.
To achieve the Millennium Development Goal by 2015, the draft aims to create employment opportunities, reduce economic disparities, eradicate social deprivation and bring positive change in people's lives.
In the planning, the government has aimed to bring down the poverty line below 21 percent from the current 25 percent. "To guarantee easy availability of essential services, investment in sectors like education, health, drinking water, electricity and food security will be increased," said Devkota.
Puskar Bajracharya, a NPC member, said results of the current three-year interim plan have been mixed.
Hailing the progress made in some sectors like health, social and communication, Bajracharya said, "The achievement in reconstruction
and rehabilitation hasn't been satisfactory due to the political situation."
Posted on: 2010-05-20 07:57
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