Tips on Nepals Economic Development ! In response to the rejoinder of Mr. Prithvi Raj Ligal, my colleague and former Vice-Chairman of NPC on my face-book status Taral Rajaniti, Sambidhan Nirman ra Aarthik Vikas, Im extremely delighted to supplement my views especially with reference to resolving crisis that I referred to in my last dispatch. The holistic model of economic development that all developing nations are insistently following in recent years is to: attract FDI, promote indigenous investment and invest more in priority mega projects on infrastructure yielding substantial returns ensuring a high, sustainable and inclusive growth with quality and social justice sustained by escalating magnitude of public spending on education and health. This requires devising a pragmatic strategy to boost-up export-led growth by setting-up of both export promoting and importing substituting industries on the basis of comparative advantages and competitive edges at the command of and in cooperation with private sector resulting in twin spill-over effects ----- employment opportunities and poverty alleviation. The private sector is the vehicle for economic development and the State should play the role of a facilitator. However, the success of this model is conditioned to improving efficiency, combating corruption and ensuring good governance (ECG) within a given time-frame. And, therefore, meritocracy must be established in all spheres of the statecraft; Foreign aid and internal resources must be effectively utilized with increasing expenditure efficiency; and above all political leadership must be enlightened, farsighted and remain above petty politics with no family obsession to amass huge wealth while enjoying fairly a higher status of public life. Jose Mujika, incumbent President of Uruguay is the poorest President in the world and this is a glaring example of what should be the prime and built-in qualities of a statesman. At the backdrop of prolonged transition and vulnerable economic situation there is no option but to promulgate a democratic constitution with republic order and accelerate the pace of economic development to graduate Nepal from the status of LDC to developing economy by 2022, and more significantly to build Nepal the Switzerland of Asia in 2040. Unfortunately, people with our age today will not survive to witness the miraculous development in Nepal that I foresee.
Posted on: Thu, 18 Sep 2014 10:15:00 +0000
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