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Cost of executing 16th Plan estimated at Rs 11.1tn: NPC

B360
B360 May 16, 2024, 3:03 pm
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KATHMANDU: National Planning Commission (NPC) announced on Wednesday that the estimated cost of implementing the 16th Plan is approximately Rs 11.1 trillion.

NPC Vice-Chairman Min Bahadur Shrestha, while informing the media about the plan and cost estimate approved by the Council of Ministers meeting on Tuesday, assured that there will be no issues with the investment required for implementing the 16th periodic plan.

Similarly, NPC Joint Secretary and Spokesperson Yamlal Bhoosal stated that the cost required for implementing the objectives adopted by the 16th Plan exceeds Rs 11.1 trillion, and partnerships with the private sector will be strengthened to ensure this cost.

According to the NPC Spokesperson, one of the strategies of the 16th Plan is to enhance production, productivity, and competitiveness by identifying, addressing, and resolving the structural obstacles observed in all areas and dimensions of development. He said, "The aim is to implement a sustainable development plan by strengthening the inter-relationship and functional capacity among the government, private, cooperative and non-governmental sectors, development partners, and all three levels — federal, provincial, and local — of government."

NPC Joint Secretary Bhoosal also mentioned that necessary activities will be undertaken in line with the goal of gender mainstreaming, utilisation of modern technology, environmental protection, and disaster risk reduction in all areas and dimensions of development, and the implementation of policy-making and development programmes based on studies, research, and facts.

The areas of structural transformation include strengthening macroeconomic foundations and enhancing economic growth, increasing production, productivity, and competitiveness. Other sectors for achieving structural transformation are productive employment, decent labour and sustainable social protection, building healthy, educated, and skilled human capital, quality physical infrastructure development, and intensive inter-agency commitment.

According to the statistics shared at the event, the target is to reach a per capita income of $2,351 by the fiscal year 2029/30 BS.

Similarly, the implementation goals include planned, sustainable, and resilient urbanisation and settlement development, gender equality, social justice, and the building of an inclusive and equitable society, strengthening regional and local economies and balanced development, and poverty and inequality reduction. Other designated areas of implementation goals are effective financial management and capital expenditure capacity building, governance reform and promotion of good governance, biological diversity, climate change and green economy, upgrading from least developed to developing country status, and the implementation of sustainable development goals.

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