Development Perspectives Dr Lok Nath Bhusal Programme Director
Development Perspectives Dr. Lok Nath Bhusal Programme Director National Planning Commission Secretariat 10/19/2021 1
Content • Active Learning - Group Work • Objectives of the Presentation • Basics of Development • Pillars of Nepalese Economy • Actions and Actors for Development 10/19/2021 2
Objectives of this Presentation • Explain the basic perspectives of development and pillars of Nepalese Economy • Explain the importance and interlinkages among the pillars of Nepalese economy 10/19/2021 3
Active Learning Discuss these questions and Answer them in a Group: What is development? What are the pillars of our economy? What actions are required for development? Who should take these actions? Note down your answers and make a short and sweet presentation – You have 20 minutes for this all. 10/19/2021 4
Basics of Development Defining Development • Growth + Change = Development • Growth = Increases in quantity in desirable direction • Change = Desirable Qualitative Improvements • Examples: Growth = Economic Growth Rate Change = Economic/political/social transformation 10/19/2021 5
Development is … • Collective intervention • In collective affairs (poverty, health, roads) • According to standards of improvement • Which vary by historical context, level of development, class, culture and relations of power 10/19/2021 6
Meanings of development 10/19/2021 7
After 2000 • Millennium Development Goals : Focus on social aspects (poverty, health, education, empowerment, environment) • 2016 -2030: Sustainable Development Goals ü; g @)!% ; ]K 6]Da/df e. Psf] ; +o'Qm /fi 6 «; +3 sf] dxf; efdf !(# b]zsf] pkl: yltdf lbuf] ljsf; n. Io hf/L e. Psf]. üs"n !& n. Io -Goals_, !^( u. Gt. Jo -Targets_ / ( j 6 f bf]xf]l/Psf ; lxt @#( ; "rsx? -Indicators_ /x]sf 5 g. üNegotiated over a two-year period at the United Nations üSuccessor of MDGs, but more comprehensive and inclusive ülbuf] ljsf; sf n. Iox? Ps csf{; Fu cfal 4 t 5 g. Pp 6 f n. Io xfl; n x'g g; Sbf c? n. Iox? nf. O{ klg c; / kb{5. 10/19/2021 8
Basics of Development: Economy Changing Structure of our Economy: – GDP – Rs. 2599234 million – GNP per capita – USD 862 Contribution to the GDP - Agriculture – 29. 37 percent - Non-agriculture – 70. 63 percent ( Out of our GDP - Domestic Consumption – 89. 7 percent - Domestic Savings - 10. 3 percent 10/19/2021 9
Economic Growth Rate 10/19/2021 10
Some Other Economic Indicators • Remittance – one third of our GDP • Revenue/GDP ratio – 21. 45 percent • Inflation – 5. 1 percent • Capital expenditure below 80 percent for the last several years • Trade Deficit /GDP ratio – 31. 1 percent 10/19/2021 11
Other Economic Development Indicators GDP Growth (Annual %) Population below poverty line (%) Human Development Index Life expectancy (years) Gini Coefficient Value 7 21. 60 0. 54 71 32. 84 Unemployment (%) 2. 3 Disguise unemployment (%) 30 Literacy rate (%) 10/19/2021 65. 9 12
Summary: Development • Development is a multidimensional phenomenon. • It is defined and understood differently by scholars and practitioners coming from different time period, discipline and orientations • In nutshell, it is desirable growth and development in the desirable direction 10/19/2021 13
Pillars of Nepalese Economy • Public • Private • Co-operative 10/19/2021 14
Public Sector By far the largest/powerful sector Has coercive power Significant presence in the economy Mixed role: Provider as well as facilitator and regulator • Formulates policies to run the economy • Corrects market and community failures • Provides welfare services (Rs. 35 Arab to the. ) • • 10/19/2021 15
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Private Sector • • Driver of the economy Pay tax Earns profits Creates jobs Provides essential items Enterprising Drives growth and development Requires regulations to overcome/reduce externalities 10/19/2021 17
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Cooperative Sector • Voluntary organization promoting economic interest, self –help as well as mutual help • In Nepal 13 types of cooperative operate • Operate and mobilize significant amount of resources • Provide direct employment to more than 50 -100 thousand people. • There are 4000/5000 cooperatives in the capital alone 10/19/2021 19
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Actions and Actors for Development • There areas where government, private sector and cooperatives succeed and undergo failure • Actions should be taken in areas of success • Government failure may be corrected by private sector and the vice versa • Excesses of government and market can be overcome by co-operative-like institutions. • Partnership, cooperation and coordination are crucial for overall development of the country. 10/19/2021 21
Now Review you earlier presentation 10/19/2021 22
• Thank you 10/19/2021 23
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