An economic plan is a systematic framework designed by the government to achieve sustained economic growth, social development, and improved living standards over a specified period.
Thank you for reading this post, don't forget to subscribe!- It involves resource allocation, prioritization of sectors, and policy interventions to achieve defined economic and social objectives.
Economic plans are essential in guiding the country’s development, reducing inequalities, and promoting industrialization, infrastructure development, and human capital formation.
Overview of Economic Development Plans in Nepal
Nepal has traditionally followed Five-Year Plans and occasionally Three-Year Interim Plans, focusing on both economic growth and social development. These plans outline policy priorities, investment strategies, and development targets.
- First Five Year Plan (1956-61)
- Second Three Year Plan (1962-65)
- Third Five Year Plan (1965-70)
- The Fourth Five Year Plan (1970-75)
- The Fifth Five Year Plan (1975-80)
- The Sixth Five Year Plan (1980-85)
- Seventh Five Year Plan (1985-90)
- Eight Five Year Plan (1992-97)
- Ninth Five Year Plan (1997-2002)
- Tenth Five Year Plan (2002-2007)
- Eleventh Three Year Plan (2007-2010)
- Twelfth Three Year Plan (2010-2013)
- Thirteenth Three Year Plan (2013-2016)
- Fourteenth Three Year Plan (2016-2019)
- Fifteenth Five Year Plan (2019-2024)
1. First Five-Year Plan (1956–1961)
- Nepal’s first formal development plan
- Focus on transportation, agriculture, and industrial foundations
- Emphasis on creating basic infrastructure
2. Second Three-Year Plan (1962–1965)
- A short-term plan due to political transition
- Focus on agriculture, irrigation, and transportation
- Strengthening administrative capacity
3. Third Five-Year Plan (1965–1970)
- Aim to increase national income
- Promote industrial development
- Establish cooperatives and improve rural development
4. Fourth Five-Year Plan (1970–1975)
- Focus on reducing poverty and regional inequalities
- Expand rural development programs
- Modernize agriculture
5. Fifth Five-Year Plan (1975–1980)
- Priority on employment generation
- Improve transportation and communication
- Introduce long-term agricultural policies
6. Sixth Five-Year Plan (1980–1985)
- Focus on economic stability and structural reform
- Strengthening of the private sector
- Expand infrastructure and energy projects
7. Seventh Five-Year Plan (1985–1990)
- Focus on poverty reduction
- Expand education and health services
- Promote agricultural productivity
8. Eighth Five-Year Plan (1992–1997)
- First plan after restoration of democracy
- Emphasis on liberalization and privatization
- Encourage private and foreign investment
9. Ninth Five-Year Plan (1997–2002)
- Poverty-focused development strategy
- Improve social services, health, and education
- Strengthen decentralization and good governance
10. Tenth Five-Year Plan (2002–2007)
- Officially aligned with Nepal’s Poverty Reduction Strategy Paper (PRSP)
- Focus on sustainable growth, social inclusion, and good governance
- Expansion of rural infrastructure
11. Eleventh Three-Year Plan (2007–2010)
- Address conflict-related challenges after the civil war
- Restore economic stability
- Support post-conflict reconstruction and peace-building
12. Twelfth Three-Year Plan (2010–2013)
- Promote inclusive economic growth
- Strengthen social security
- Expand electricity, transport, and communication sectors
13. Thirteenth Three-Year Plan (2013–2016)
- Aim to achieve higher economic growth
- Focus on infrastructure, hydropower, and agriculture
- Encourage private sector investment
14. Fourteenth Three-Year Plan (2016–2019)
- Support transition to a federal government system
- Rebuild after the 2015 earthquake
- Promote employment and reduce poverty
15. Fifteenth Five-Year Plan (2019–2024)
- Nepal’s long-term vision to become a prosperous nation by 2043
- Focus on high economic growth, modernization, and digital economy
- Development of infrastructure, hydropower, tourism, and education
- Strengthening federalism and good governance