Nepal | November 30, 2020

Approach paper draft of 15th five-year plan okayed

Himalayan News Service
Share Now:

Kathmandu, April 4

The meeting of the National Development Council (NDC) chaired by Prime Minister KP Sharma Oli, today endorsed the draft of the approach paper of the 15th five-year plan (fiscal years 2019- 20 to 2023-24) with a number of ambitious growth and development targets.

The draft of the approach paper of the 15th periodic plan was prepared by the National Planning Commission (NPC) and presented at the two-day NDC meeting where participants including chief ministers, secretaries and other high-level dignitaries held discussions on various targets set in the periodic plan and provided their comments.

Endorsement of the draft of the approach paper of the 15th five-year plan means that NPC will now present the approach paper at the full meeting of NPC incorporating the suggestions from stakeholders.

Once the draft of the approach paper gets NPC’s nod, it will be presented at the Cabinet meeting for approval and be implemented from the beginning of fiscal year 2019-20.

Among others, the approach paper of the fiveyear periodic plan has set a target to achieve a minimum average economic growth of 9.4 per cent per annum in the next five years, though it states that the economy can grow up to 10.1 per cent per annum in the next five years based on different scenarios.

Similarly, approach paper states the country’s agriculture sector can witness an average growth of 5.6 per cent per annum in the next five years while the industrial sector can witness average growth of 17.1 per cent per annum. Likewise, the services sector is expected to witness 9.9 per cent growth per annum in between fiscal years 2019-20 and 2023-24.

The draft approach paper of the 15th five-year plan also states that contribution of services sector in gross domestic product (GDP) can reach 57.6 per cent by fiscal 2023-24 while the contribution of the agriculture sector and industrial sector in the national GDP can reach 22.1 per cent and 20.3 per cent, respectively.

Addressing the NDC meeting, Prime Minister Oli said that the 15th five-year plan, unlike previous plans, is a special periodic plan that intends to transform the country’s economy and development.

“This periodic plan is being introduced with a special purpose to transform the country through all means. The government will introduce policies and programmes based on the vision set by the 15th five-year plan,” he said.

Citing that the execution of the 15th five-year plan requires huge resources, Oli also urged all layers of governments and government agencies to maintain austerity in expenditure and control unnecessary expenditure on unproductive works.

Similarly, Finance Minister Yubaraj Khatiwada urged NPC to finalise the approach paper and get the Cabinet’s nod as soon as possible so that the government can introduce necessary policies and programmes in the budget based on the vision set by the 15th five-year periodic plan.

On the occasion, Pushpa Raj Kandel, vice-chairman of NPC, said the commission will finalise the draft of approach paper by incorporating stakeholders’ suggestions and present it at NPC’s full meeting as soon as possible.

A version of this article appears in print on January 01, 1970 of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Mahrez hat-trick as Man City thrash Burnley 5-0 yet again

MANCHESTER: Riyad Mahrez scored a hat-trick as Manchester City hammered Burnley 5-0 at the Etihad Stadium in the Premier League on Saturday -- the fourth straight time Pep Guardiola's side have beaten the Clarets at home by that scoreline. City had netted just 10 goals in their open Read More...

Oli counters Dahal with 38-page salvo

Oli raises a host of issues and questions Dahal’s role in relation to them KATHMANDU, NOVEMBER 28 Prime Minister KP Sharma Oli today presented a 38-page long rebuttal to party Co-chair Pushpa Kamal Dahal’s 19- page proposal saying Dahal’s proposal had led to a serious crisis in the party a Read More...

Record-setting week at Nepse

KATHMANDU, NOVEMBER 28 The country’s sole secondary market witnessed a number of records broken in the trading week between November 22 and 26, with the Nepal Stock Exchange (Nepse) index surging by 6.47 per cent or 115.13 points week-on-week to scale to a new peak. Opening at 1,778.12 p Read More...

Raphinha's late strike gives Leeds victory at Everton

LIVERPOOL: Brazilian winger Raphinha scored his first goal for Leeds United to give his side a 1-0 win in an eventful Premier League game full of disallowed goals and superb saves at Goodison Park on Saturday. With England manager Gareth Southgate watching from the stands, Everton keeper Read More...


MoFAGA formulates procedure to enhance public accountability

KATHMANDU, NOVEMBER 28 The Ministry of Federal Affairs and General Administration has formulated procedure related to public accountability promotion for its implementation at the local levels. The procedure aims to enhance the public accountability of local governments by making elected repre Read More...

‘Chandragadi airport to be upgraded as per new DPR’

JHAPA, NOVEMBER 28 Minister of Tourism and Civil Aviation Yogesh Kumar Bhattarai today said upgradation of Chandragadi airport would be carried out as per the latest detailed project report. Upon receiving a memo submitted by Save Chandragadi Airport Committee, Minister Bhattarai clarified tha Read More...

Jagadamba steel

Industrial blast injures four

BARA, NOVEMBER 28 At least four labourers were injured in an explosion at a furnace of Jagadamba Steel in Jitpursimara sub-metropolis of Bara today. The four persons, including two Indians, were injured in the incident that took place early this morning. The injured have been identified as Read More...

Cold store being built

DHARAN, NOVEMBER 28 Construction of a cold store in Sunsari’s Barahachhetra Municipality has reached the final stage, signalling an end to the plight of having to take local products elsewhere for storage. Sunsari’s Barahachhetra has developed wards in the plains and prioritised livestock Read More...