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. 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.
