16th plan estimated to cost Rs 11.1 trillion: NPC reports


May 15, 2024


16th plan estimated to cost Rs 11.1 trillion: NPC reports

National Planning Commission (NPC)

KATHMANDU: The National Planning Commission (NPC) has announced that the estimated cost of implementing the 16th Plan is approximately Rs 11.1 trillion.

Dr. Min Bahadur Shrestha, Vice Chairman of the NPC, briefed the media about the plan and the approved cost estimate during the Council of Ministers meeting held on Tuesday.

He assured that there would be no hindrance in securing the necessary investment for implementation.

NPC Spokesman Yamlal Bhusal highlighted that the cost required for achieving the objectives outlined in the 16th Plan exceeds Rs 11.1 trillion.

He emphasized on enhancing partnerships with the private sector to ensure funding for the plan.

One of the key strategies of the 16th Plan is to address structural obstacles across various dimensions of development to increase production, productivity, and competitiveness, according to Bhusal.

He emphasized the importance of strengthening cooperation between the government, private, cooperative, and non-governmental sectors, as well as development partners at all levels of government – federal, provincial, and local.

Bhoosal outlined the plan’s focus on gender mainstreaming, use of modern technology, environmental protection, disaster risk reduction, and evidence-based policy making and development programs.

The plan aims for structural transformation through strengthening macroeconomic bases, enhancing economic growth, promoting productive employment, and sustainable social protection.

Additionally, it focuses on building healthy, educated, and skilled human capital, and developing quality physical infrastructure.

Statistics shared during the announcement revealed a target of achieving $2,351 per capita income by the fiscal year 2085-86 BS.

Furthermore, the plan includes goals for sustainable urbanization, gender equality, poverty reduction, effective financial management, governance reform, biodiversity conservation, climate change mitigation, and achieving sustainable development goals.