POKHARA: According to National Development Strategy Paper (NDPS), the government plans to invest Rs 1324.5 billion to achieve average economic growth rate of 7.6 percent and lower the national poverty level to 21.5 percent over the period of next three years. The sources for the investment comprises of Rs 532.2 billion worth of revenue, Rs 233.3 billion of foreign aid and Rs 70.8 billion worth of internal loans.

At the same time, the strategy paper also aims to achieve agricultural growth of 5.2 percent and non-agricultural growth of 8.8 percent during the period. NDPS also includes some ambitious targets like raising the literacy rate to 95 percent from existing 63 percent; connecting all district headquarters by road network; expanding drinking water to 90 percent of the population and increasing telecom services to 25 people in every 100 people.

The strategy paper plans to invest Rs 1151.6 billion from domestic resources for formation of fixed assets. Out of which, it is expected that private sector will invest Rs 324 billion and government´s sources will arrange the remaining Rs 827.7 billion

According to NDPS, education is planned to receive the largest share of planned expenditure (Rs 148 billion) followed by local development (Rs 115 billion). However, the hydropower sector has only been allocated Rs 51 billion, despite the fact that the government targets to produce 10,000 megawatts in the next ten years.

The government is presenting the development strategy paper in the upcoming Nepal Development Forum (NDF) meeting which is scheduled for next month in Kathmandu.