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Lesson Economic Planning
8.9

FACTS The first Economic Planning was started in
to Understand BS 2013 in the form of Five-year Plan to bring
overall development of the country.

A plan is a program made in order to achieve certain goals within a specified period
to time by utilizing estimated time, investment, manpower and available resources.
Every conscious person makes a plan for acquiring goal. Plan is essential condition
for the development of a country because the success of a project depends upon a
plan. Thus, economic planning is an approach of achieving certain predetermined
objectives within a specified time. It is the process of making the economic decision by
using limited means of resources on priority basis.

The government makes a plan to achieve specific objectives in the country on the
priority basis by utilizing available means and resources. Such plans made by the
government that aims at growing country’s economy is called economic planning.
It is the activity of deciding the best way of using money, labour, resources, time
to make country’s economy successful. In 1928 AD, then United Soviet Socialist of
Republic (USSR) introduced the economic planning for the first time in the world.
After that many other countries in the world started adopting economic planning.
Nepal also has adopted economic planning since BS 2013 (1956 AD). In the beginning
th
it was fixed for 5 years till 10 Year Plan (BS 2059-2064) then after 3-year. Interim
plan started. The plans prepared by the National Planning Commission. The Prime
Minister is the chairman of the commission. Each plan should set its aims that are to
be achieved in the targeted period and should decide on how to achieve them. If any
of the targeted project on ongoing plan couldn’t be met then it will be included in the
succeeding plan.

Objectives and Areas to Focus on a Planning
The main objectives of the economic planning are speedy development, regional
balance in development and better utilization of means and resources. The areas that
need to focus while preparing plans are:
1. Clear targets and strategies
2. Sufficient budget to use and other resources
3. Vision of short term and long-term needs in the country
4. Specified time period
5. Protection of environment
History of Economic Planning in Nepal
The Ranas introduced the concept of economic in Nepal. The 20-year plan was launched
by Juddha Shumsher, it was reduced by 5 years during the period of Mohan Shumsher
and made it 15 years. At the advent of democracy in BS 2007, Matrika Prasad Koirala
established the Ministry of Planning and Development in 2009. However, the efforts
of these all became failed but finally in BS 2013 the systematic planning started in
313 Dynamic Social Studies - Book IX