16th 5-year plan sets economic growth rate target of 7.3 per cent

KATHMANDU, May 16: The economic growth rate of the country is projected to reach 7.3 percent in the next five years. A target has been set to make the economic growth rate 7.3 percent under the goal of the 16th Five-Year Plan, made public by the National Planning Commission today.

During the presentation on this Plan, Commission Spokesperson Yamlal Bhoosal stated a target had been set to increase the economic growth rate to 7.3 per cent by 2085/86 from 3.9 per cent. Similarly, the 16th Plan aims to increase per capita income to $2,351 and reduce the population below the poverty line to 12 per cent from 20.3 per cent. Additionally, it aims to decrease the consumer inflation rate to five percent from 7.7 percent.

Furthermore, the plan aims to increase the human development index to 0.65 from 0.601 and raise the human poverty index to 78 percent from 76.3 percent. It is anticipated that the 16th plan will lower the economic and environmental risk index to 24 from 29.7 and increase life expectancy to 73 years from 71.3.

A target has been set to increase the literacy rate to 85 percent from 76.2 percent. An estimated investment of around Rs 11.1 trillion has been allocated for the implementation of the 16th plan.