Cooperative:-
Cooperative is a group of like-minded people working for the same economic and social goals. So the basic meaning of cooperative is to work together in collaboration. In a broader sense, people with different purpose, careers, businesses and aspects working for social and economic development are considered a cooperative. In September 1995 at Manchester, England, the International Cooperative Federation Council defined Cooperative. A co-operative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise. In Nepal’s context, Guthi, Dharma, Bhakari, Manka Khala, Kulayan, Dewali, Parma, Bheja, Dhukuri, etc. worked as cooperative organizations since traditional times. In Nepal, formal cooperatives were developed after the formation of Cooperative Association in 2010 B.S. Established in 2013 B.S. in Bakhanpur, Chitwan, Bakhan Credit Cooperation is considered to be Nepal’s first cooperative. The Cooperative Act, 2016 was issued to institutionalize cooperatives in Nepal. Cooperative Law in 2018 B.S. and Cooperative Bank 2020 B.S. were established. After the promulgation of the Cooperative Act in 2048 B.S., the wave of establishing cooperatives began.
Cooperative institutes have certain objectives and goals. So the membership is voluntary. Such organizations can function without external restrictions. Cooperatives are democratic organizations and are operated by the members elected or appointed by the members. The members have equal right to the profits from financial transactions. Cooperatives have a very great importance for us as a country. The purpose of these institutions is to meet the public expectations. So the possibility of cooperative development public can’t be imagined without public participation. Developed nations have achieved much progress from cooperatives. We have to learn from experience and the progress of other countries to our advantage. Cooperatives can play a key role for the strengthening of the economic system of Nepal. The cooperative teaches farmers to be economically independent. It promotes the feelings of production pride in the rural societies. It helps the locals in improving the quality of life as well as poverty alleviation. The establishment of multi-purpose cooperatives has played an important role in credit services available to farmers involved in agriculture and easy market access to improve rural living conditions. The presence of domestic and small industries is necessary for better rural living standards. So the capital required for the establishment of small and cottage industries are possible through cooperatives. Such organizations also contribute to the economic development in national periodic plans. The local level cooperation, coordination and investment environment has been created from these organizations. New possibilities and identifying the needs are possible because of such institutions. The economy can be improved and unemployment tackled by the means of cooperatives. There are also problems with cooperative organizations. Giving higher loans to family members and appointing friends as members are heard from time to time. Such are illegal actions have to be ended. The chairperson using the deposit money for personal use and real estate investments are also found in some cases. Similarly, the amount collected from the public and big business financial transactions not being given in for final audit are also seen. One person being involved in many cooperatives also has damaged the reputation of some cooperatives. The effective implementation of the Cooperatives Act can benefit many cooperatives. Similarly, discouraging investment outside the working sector and actual service to the depositors will alleviate this problem. In addition, prohibiting the sale of shares to people outside the regulatory framework must be done.
Water : An Important Source
The power got naturally from coal, wood, gas, petroleum, hydroelectricity, nuclear fusion furnace, etc. is called energy. Energy is absolutely necessary for a human to survive. Energy is necessary in cooking, transport and industries and factories to run. Nepal has traditional and commercial sources as the two sources of energy. Traditional sources include firewood, agricultural residues, etc. Commercial resources include petroleum products, coal, electricity, etc. Even though Nepal is a landlocked country, both surface and underground water resources are abundantly available here. Most of the rivers flow through the Himalayan mountain range to the south of the nation. These rivers have water flowing throughout the year. The natural form of vertical and sloped land and enough permanent water-flow in the rivers means there is high growth potential for water power. We can decrease the dependence on petroleum products for fuel from hydro energy, and work to maintain that balance of energy conservation. Hydro-power energy use can control deforestation and electricity can be exported to foreign countries. Similarly, transport and communication develops, employment can be ensured. It also contributes to the modernization of agriculture and in environment protection.
The potential for the hydroelectricity in Nepal is estimated to be 83,000 MW. This is 2.26% of total hydroelectric energy production of the world. We can obtain 42,000 MW electricity depending on Nepal’s current economic and technical potential. Koshi, Gandaki, Karnali and their substituent rivers are considered important for the hydroelectric energy production. S.No. River Estimated Potential Practical Potential 1 Koshi 23,350 MW 10,860 MW 2 Gandaki 20,650 MW 5,270 MW 3 Karnali & Mahakali 36,000 MW 27,360 MW 4 Others 40,000 MW 880 MW Total 83,000 MW 44,370 MW Source: Central Bureau of Statistics Current Hydroelectric Situation in Nepal Nepal is one of the richest countries in terms of water resources, and yet lack of effective production of hydroelectricity has resulted in energy crisis in Nepal. Nepal produced 829MW electricity in the fiscal year 2072/73 B.S. This is merely 1% of Nepal’s production potential. Approx. 689 MW electricity is connected to the National Transmission Line, and others are being produced and consumed at the local level. The 14 Periodic Plan has the goal of producing around 2279 MW electricity. Nepal doesn’t have a rich history of hydroelectricity projects. The first plant was Farping Hydroelectricity Project with production of 500 KW power from 1968 B.S. Although now it is spread all through the country, only 56% of population has access. Lack of investment, transportation and roads, political instability, local strikes, etc. have made development difficult. There is a lot of potential and if we can invest in it, we can be self sufficient in energy production.
Revenue And Tax :
A government earns money from various sources. This income is public revenue, and the government gets revenues through this. The government receiving money from the citizens according the law and the citizens that have to pay money compulsorily to the government according to the law is called tax. Tax is a compulsory means, and the person or business paying tax does not expect any special treatment from the government.
Tax Income:
Tax is the fixed amount rate taken by the government from its citizens. There is no direct profit to the citizens by paying tax. This is the main source of revenue as well. Customs tax, service tax, land tax, income tax, admission tax, etc. are some of the taxes that make up the revenue.
Direct Tax:
If an individual has to pay the tax, it is called direct tax. When a person buys land, house, etc. he/she has to pay tax and this cannot be transferred to another. Income tax, salary tax, land tax, house tax, etc. are examples of direct tax. The rates of this tax can be more or less depending on the time. This kind of tax helps to balance the currency in circulation. 30% of total revenue is made of direct tax
Indirect Tax :
When payment of tax is dependent on one, and the effects falls on another, that type of tax is indirect tax. When a person eats in a hotel, and pays a bill inclusive of tax. The hotel pays the tax to the government, but the customer has to pay that tax amount as well. This is indirect tax. Custom tax, VAT, etc. are examples of indirect tax. This kind of tax cannot be cheated, and the range is flexible.
Tax-free Income:
Other source of revenue except tax is called tax-free income. Gifts, donations, fines, punishments, heirless property, public property, etc. are tax-free.
Tax in Nepal
a. Value Added Tax :
The tax taken for the value added during the production and distribution of an object or service is VAT. This originated in France. Tax is taken in object and service price, but the load falls on the customer. Nepal began taking VAT from 2054 B.S. There is also a discount available in this kind of tax. If a business has transactions above 20 lakhs, then they have to compulsorily register for VAT. Internal Revenue Agency oversees this registration, and the customer also has to ask for a VAT bill with every purchase.
b. Excise Duty:
Excise duty is the tax taken on products manufactured within the country and imported goods. This is another important source of revenue for the country. The tax is taken on presumed business in a country, so called excise duty. Excise duty is taken on alcohol, cigarettes, noodles, plastic, vehicles, electronics, press, etc.
c. Customs Tax:
Tax taken according to lawful import or export of goods in the border of the country is customs tax. This is the most important tax in the government revenue. Every government sets up a customs office in the border because of its importance. Nepal government has customs office in Kakarbhitta, Biratnagar, Birgunj, Bhairahawa, Nepalgunj, etc.
d. Income Tax:
Generally, tax taken from the income of a person is called income tax. This is the oldest form of tax. This originated in the 12 century from London. This is taken on businesses, investments, profits, etc. This has been implemented on almost all sectors in Nepal. Tax deductions are available for profit oriented businesses, organizations, non-professional sport organizations, political parties registered under election commission, etc. The local government has right to deduce tax in 8 various types according to the Local Independent Rule Act.
Cooperative is a group of like-minded people working for the same economic and social goals. So the basic meaning of cooperative is to work together in collaboration. In a broader sense, people with different purpose, careers, businesses and aspects working for social and economic development are considered a cooperative. In September 1995 at Manchester, England, the International Cooperative Federation Council defined Cooperative. A co-operative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise. In Nepal’s context, Guthi, Dharma, Bhakari, Manka Khala, Kulayan, Dewali, Parma, Bheja, Dhukuri, etc. worked as cooperative organizations since traditional times. In Nepal, formal cooperatives were developed after the formation of Cooperative Association in 2010 B.S. Established in 2013 B.S. in Bakhanpur, Chitwan, Bakhan Credit Cooperation is considered to be Nepal’s first cooperative. The Cooperative Act, 2016 was issued to institutionalize cooperatives in Nepal. Cooperative Law in 2018 B.S. and Cooperative Bank 2020 B.S. were established. After the promulgation of the Cooperative Act in 2048 B.S., the wave of establishing cooperatives began.
Cooperative institutes have certain objectives and goals. So the membership is voluntary. Such organizations can function without external restrictions. Cooperatives are democratic organizations and are operated by the members elected or appointed by the members. The members have equal right to the profits from financial transactions. Cooperatives have a very great importance for us as a country. The purpose of these institutions is to meet the public expectations. So the possibility of cooperative development public can’t be imagined without public participation. Developed nations have achieved much progress from cooperatives. We have to learn from experience and the progress of other countries to our advantage. Cooperatives can play a key role for the strengthening of the economic system of Nepal. The cooperative teaches farmers to be economically independent. It promotes the feelings of production pride in the rural societies. It helps the locals in improving the quality of life as well as poverty alleviation. The establishment of multi-purpose cooperatives has played an important role in credit services available to farmers involved in agriculture and easy market access to improve rural living conditions. The presence of domestic and small industries is necessary for better rural living standards. So the capital required for the establishment of small and cottage industries are possible through cooperatives. Such organizations also contribute to the economic development in national periodic plans. The local level cooperation, coordination and investment environment has been created from these organizations. New possibilities and identifying the needs are possible because of such institutions. The economy can be improved and unemployment tackled by the means of cooperatives. There are also problems with cooperative organizations. Giving higher loans to family members and appointing friends as members are heard from time to time. Such are illegal actions have to be ended. The chairperson using the deposit money for personal use and real estate investments are also found in some cases. Similarly, the amount collected from the public and big business financial transactions not being given in for final audit are also seen. One person being involved in many cooperatives also has damaged the reputation of some cooperatives. The effective implementation of the Cooperatives Act can benefit many cooperatives. Similarly, discouraging investment outside the working sector and actual service to the depositors will alleviate this problem. In addition, prohibiting the sale of shares to people outside the regulatory framework must be done.
Water : An Important Source
The power got naturally from coal, wood, gas, petroleum, hydroelectricity, nuclear fusion furnace, etc. is called energy. Energy is absolutely necessary for a human to survive. Energy is necessary in cooking, transport and industries and factories to run. Nepal has traditional and commercial sources as the two sources of energy. Traditional sources include firewood, agricultural residues, etc. Commercial resources include petroleum products, coal, electricity, etc. Even though Nepal is a landlocked country, both surface and underground water resources are abundantly available here. Most of the rivers flow through the Himalayan mountain range to the south of the nation. These rivers have water flowing throughout the year. The natural form of vertical and sloped land and enough permanent water-flow in the rivers means there is high growth potential for water power. We can decrease the dependence on petroleum products for fuel from hydro energy, and work to maintain that balance of energy conservation. Hydro-power energy use can control deforestation and electricity can be exported to foreign countries. Similarly, transport and communication develops, employment can be ensured. It also contributes to the modernization of agriculture and in environment protection.
The potential for the hydroelectricity in Nepal is estimated to be 83,000 MW. This is 2.26% of total hydroelectric energy production of the world. We can obtain 42,000 MW electricity depending on Nepal’s current economic and technical potential. Koshi, Gandaki, Karnali and their substituent rivers are considered important for the hydroelectric energy production. S.No. River Estimated Potential Practical Potential 1 Koshi 23,350 MW 10,860 MW 2 Gandaki 20,650 MW 5,270 MW 3 Karnali & Mahakali 36,000 MW 27,360 MW 4 Others 40,000 MW 880 MW Total 83,000 MW 44,370 MW Source: Central Bureau of Statistics Current Hydroelectric Situation in Nepal Nepal is one of the richest countries in terms of water resources, and yet lack of effective production of hydroelectricity has resulted in energy crisis in Nepal. Nepal produced 829MW electricity in the fiscal year 2072/73 B.S. This is merely 1% of Nepal’s production potential. Approx. 689 MW electricity is connected to the National Transmission Line, and others are being produced and consumed at the local level. The 14 Periodic Plan has the goal of producing around 2279 MW electricity. Nepal doesn’t have a rich history of hydroelectricity projects. The first plant was Farping Hydroelectricity Project with production of 500 KW power from 1968 B.S. Although now it is spread all through the country, only 56% of population has access. Lack of investment, transportation and roads, political instability, local strikes, etc. have made development difficult. There is a lot of potential and if we can invest in it, we can be self sufficient in energy production.
Revenue And Tax :
A government earns money from various sources. This income is public revenue, and the government gets revenues through this. The government receiving money from the citizens according the law and the citizens that have to pay money compulsorily to the government according to the law is called tax. Tax is a compulsory means, and the person or business paying tax does not expect any special treatment from the government.
Tax Income:
Tax is the fixed amount rate taken by the government from its citizens. There is no direct profit to the citizens by paying tax. This is the main source of revenue as well. Customs tax, service tax, land tax, income tax, admission tax, etc. are some of the taxes that make up the revenue.
Direct Tax:
If an individual has to pay the tax, it is called direct tax. When a person buys land, house, etc. he/she has to pay tax and this cannot be transferred to another. Income tax, salary tax, land tax, house tax, etc. are examples of direct tax. The rates of this tax can be more or less depending on the time. This kind of tax helps to balance the currency in circulation. 30% of total revenue is made of direct tax
Indirect Tax :
When payment of tax is dependent on one, and the effects falls on another, that type of tax is indirect tax. When a person eats in a hotel, and pays a bill inclusive of tax. The hotel pays the tax to the government, but the customer has to pay that tax amount as well. This is indirect tax. Custom tax, VAT, etc. are examples of indirect tax. This kind of tax cannot be cheated, and the range is flexible.
Tax-free Income:
Other source of revenue except tax is called tax-free income. Gifts, donations, fines, punishments, heirless property, public property, etc. are tax-free.
Tax in Nepal
a. Value Added Tax :
The tax taken for the value added during the production and distribution of an object or service is VAT. This originated in France. Tax is taken in object and service price, but the load falls on the customer. Nepal began taking VAT from 2054 B.S. There is also a discount available in this kind of tax. If a business has transactions above 20 lakhs, then they have to compulsorily register for VAT. Internal Revenue Agency oversees this registration, and the customer also has to ask for a VAT bill with every purchase.
b. Excise Duty:
Excise duty is the tax taken on products manufactured within the country and imported goods. This is another important source of revenue for the country. The tax is taken on presumed business in a country, so called excise duty. Excise duty is taken on alcohol, cigarettes, noodles, plastic, vehicles, electronics, press, etc.
c. Customs Tax:
Tax taken according to lawful import or export of goods in the border of the country is customs tax. This is the most important tax in the government revenue. Every government sets up a customs office in the border because of its importance. Nepal government has customs office in Kakarbhitta, Biratnagar, Birgunj, Bhairahawa, Nepalgunj, etc.
d. Income Tax:
Generally, tax taken from the income of a person is called income tax. This is the oldest form of tax. This originated in the 12 century from London. This is taken on businesses, investments, profits, etc. This has been implemented on almost all sectors in Nepal. Tax deductions are available for profit oriented businesses, organizations, non-professional sport organizations, political parties registered under election commission, etc. The local government has right to deduce tax in 8 various types according to the Local Independent Rule Act.
Insurance:
On Aswin 8 2004 B.S., the first insurance company in Nepal was established as Nepal Maal Chalani Tatha Bitta Company Limited. The National Insurance Agency Act 2025 was issued and Rastriya Beema Sansthan was established on Poush 1 2025 B.S. They deal with both kinds of insurance i.e. life and non-life insurance. At present, 25 insurance companies are currently functioning in Nepal. Nine of them work on life insurance and 16 work on non-life insurance. Insurance-related activities are supervised by the committee formed under the 2049 Insurance Act. The National Insurance Corporation has played an important role in promoting insurance business, development, and expansion. It represents 25% of all non-life insurance in the market and 50% of all life insurance.
Life Insurance:
Our life is uncertain, and there may be a variety of accidents and death. A sudden death in the family can lead to the economic crisis of the family. Therefore, each person should insure themselves against the risks to provide financial security. This kind of insurance is called life insurance. Insurance Act, 2049 is defines life insurance as: "Life insurance business involves drafting a contract so that a certain amount paid by a person or the person's heir so that a certain amount will be given in return."
Non-Life Insurance:
Home, shop, industries, agriculture, etc. can get damage due to natural or other disasters. Non-life insurance protects the individual or business from such damages. These insurances cover a wide range of disasters including flood, earthquake, landslides, wind, hail, snow, drought, etc. as well as fire, accidents, crashes, etc. These are generally done for a period of one year and renewed annually. The agriculture ministry of Nepal issued the Crops and Processing Insurance Act, 2069 B.S. which insures the crops with 75% paid by the government and 25% by the farmer.
Important things to note before getting insurance:
1. The purpose of insurance should be clear.
2. The heir for the insurance should be mentioned clearly.
3. Incorrect details, information or notices should not be given.
4. The specified amount equivalent to the cost of insurance, and interest can be paid or not should be taken into account.
5. The insurance proposal should be read carefully, and must be satisfactory.
6. The insurance company should be licensed by the government.
7. The interest amount of insurance should be billed and a copy taken every time for safekeeping.
8. Home and family members should be notified about the insurance.
9. The date of renewals and payment of insurance should be taken care at all times.
10. All documents relating to insurance should safely kept.
Advantages of Insurance:
1. Compulsory savings.
2. Safety from risk.
3. Safe future.
4. Interest can be received.
5. Investment opportunity from the single amount received.
6. Loan can be taken at difficult times.
Challenges and Problems OF Foreign Employment:
Though foreign employment helps to uplift the economic status of the nation, it has created different types of problems. There are several challenges and problems faced by the employees while departing from foreign countries and working there. It is necessary to minimize the challenges and problems faced by Nepalese employers in the foreign countries.
Some of the challenges seen in the foreign employment are as follows:
1. The employees are forced to work for long hours without holidays and often paid no wages.
2. Mostly, the semi-skilled and unskilled workers go to the foreign countries so, they do not get job as per the contract.
3. Some of the manpower companies, agent and broker cheat the people.
So, they do not get the offered jobs and treated as illegal immigrants. So, they are forced to leave the working countries
4. The employees in foreign countries do not know the language which is necessary for mutual communication in working countries.
5. Some of the employees are mentally and physically tortured and sexually abused and exploited.
6. The workers are forced to work in low salary jobs.
7. The manpower companies charge a huge sum of money for the visa and other legal processing which forces the employees to sell the property to take the money on high interest.
The measures to solve the problems of tourism in our country are as follows:
i. The infrastructural development should be equally distributed in every tourism destinations to make the service accessible for the tourists who admire to visit there.
ii. Conservation of old and ancient cultural heritages sites should be done and they should be renovated in their own original style to attract the large number of tourists.
iii. The needed facilities as well as security should be provided in all the tourism destinations.
iv. Cleanliness program should be launched in those areas which have been polluted.
v. Publicity should be increased of the tourism destinations about the beautiful places of Nepal, so that there will be increment in the number of tourists.
vi. Internal conflicts should be stopped to encourage the tourists to come here.
vii. Number of entertainment facilities should be increased and made available in all tourism destinations
Tourism Industry:
Tourist:
The people who travel or visits different new places for different purposes is called a tourist. They travel various place for various purposes that may be business, pleasure, adventure, to spend holidays, pilgrimage and many more. There are two types of tourists, they are:
Domestic or internal tourist:
The people who travel from one place to another within their own country for various purposes are called domestic or internal tourists. For example, if the student of Kathmandu is in Pokhara for their educational tour, they are called domestic tourists.
International or foreign tourist:
Those people who travel from one country to another for a certain period of time are called international or foreign tourist. International tourists need a visa to go from one country to another country.
Reasons for traveling:
(a) To enjoy during the holidays.
(b) To see and learn the lifestyle of other people.
(c) For pilgrimage.
(d) To visit famous places.
(e) To escape from severe climate.
Importance of tourism in Nepal:
The importance of tourism in Nepal are as follows:
(a) Source of foreign currencies:
Foreign currencies are very important for the country and tourism is the main source of foreign currency of Nepal. Nepal exports very few and cheap goods to other country and imports several goods. If Nepal can earn more foreign currencies it can uplift its economic status at large extent.
(b) Support cottage and handicraft industries:
When a foreign tourist visits Nepal, they are attracted towards the handicrafts products they are manufactured in typical Nepali style using local raw materials which support cottage and handicrafts industries.
(c) Development of physical infrastructures:
Conceptualization of Metro in Nepal. Tourism helps to develop the physical infrastructures of the nation. To provide proper accommodation to the tourist government are concentrated to develop physical infrastructures. Thus, physical infrastructures are ultimately developed.
(d)Conservation of arts and culture:
Tourists are attracted towards our arts, culture, traditions, historical sites, monuments, etc. which ultimately helps to preserve arts and culture.
(e) Increase in trade:
When tourists are interested in the different Nepalese product, they demand such goods in their own country as well which help to develop international trade.
(f) Publicity of Nepal to the world:
With the help of tourism, Nepal has become famous in the world for its natural beauty. When more tourist visits our country diplomatic relation will be established with other countries. There will be more demand for Nepalese product in the world market. Problems created by tourist industry: The tourism industry is very important for the developing country like Nepal but it has created some problems as well. Some of the problems created by tourism are as follows: a. Increase pollution:
When more tourists come to Nepal, they also tend to increase the pollution. Especially when they go for trekking, they take tents along with packed food and cans. After having the food, they throw the plastics and other rubbish which increases pollution. b. Diseases and drugs:
A tourist who visits Nepal might be suffering from several diseases and that gets spread through various means. Some of them also use drugs. They might sell drugs in our country. Nepalese youth may also copy their habits too. c. Effect in local culture:
Tourist is from different countries with different cultures. There are such things in their culture which are not suitable for us. Due to the influence of western culture, Local culture disappears. d. Environmental effect:
Due to more flow of tourists, deforestation takes place. Wildlife is disturbed and it may cause extinction and antique things may disappear. At the same time, tourists prefer foreign goods rather than our local products. So most of our currencies go to the foreign countries.
14 Periodic Plan (2073/74 – 2075/76)
S. No. Index/Goals
Current Position
Target
1 Increasing yearly average economic development (%) 0.77 7.20
2 Increasing yearly average agricultural sector (%) 1.33 4.70
3 Increasing yearly average non-agricultural sector (%) 0.63 8.40
4 Population below poverty line (%) 21.60 17
5 Human development index 0.54 0.57
6 Average life expectancy (%) 71 72
7 Net student admission in primary level (%) 37.70 45
8 Literacy in 15-24 years age group (%) 88.60 91
9 Electricity production (MW) 829 2,279
10 Population with internet access (%) 46.4 65
Strategy
1. Increasing production by investing in agricultural sector, tourism, and industrial as well as small/medium scale businesses.
2. Building infrastructures for energy resources, road and aerial transportation, information & communications, rural urban connection and tripartite agreements between Nepal India and China.
3. High and sustainable human development by giving importance to social development, social conservation and social security.
4. Economic, social and governmental improvement, safe and dependable public funds, clean, transparent and friendly public services, and human rights conservation.
5. Increase gender equality, inclusiveness, environmental conservation, use of science and technology, etc.
Challenges
1. Rapid economic growth rate and immediate poverty reduction through fair distribution of resources.
2. Considerable improvement of human development and the development of overall economical prosperity and sustainable economic development.
3. The reduction in disparity in the economic growth of the Nepalese society and establishment of Nepal as a social justice-based equitable and welfare state.
4. Expansion of economic sector, maximum utilization of rural masses, and decentralization of industries and adequate employment opportunities.
5. Make the country competitive and business oriented by making sustainable agricultural changes.
6. Solving the energy crisis, minimizing dangers of outbreaks and economic disasters, efforts to adapt to the global climate change.
7. Construction, development, and restructuring of infrastructures to connect rural and urban development programs, and make it an aspect in economic development.
8. Making development programs, integrated work programs, and demographic development effective to provide services to the public.
9. Increasing efficiency in regional and local level development to make clean and effective administrations.
10. The work of reconstruction of the state to be completed by the regional and local development leaders and given to the elected representatives, and strengthening the national planning implementation system.
Opportunities
1. After Nepal's constitution was issued, it solved the political problems and Nepal entered into social and economic development.
2. There is immense possibility for economic development if we can properly utilize fertile grounds, water resources, forests, minerals, biological diversity and geographical beauty, as well as other natural resources.
3. More people are getting economically active, and with more skilled manpower getting trained and educated, it helps in the social and economic development of the society.
4. The use of physical and other basic infrastructures that were previously unused are being put into use .
5. The highest return can be gotten from the social and economic sector investments.
6. Over half of the financially active public has been integrated public co-operative and community systems.
7. Cooperative and private sectors have the opportunity to prosper financially by the government's fiscal policy and help in making the government prosperous.
8. Non-resident Nepalese are investing in Nepal more than ever.
9. The rapid expansion in the middle class population in neighbor countries has increased opportunities to expand tourism, increase foreign investment, export and certain services sectors in Nepal.
10. Skills learned by Nepalese citizens in foreign employments are used in enterprises and entrepreneurship, knowledge, technology and other operational opportunities in Nepal.
History of Fiscal Planning
Fiscal planning in Nepal
The first five-year plan named Papatileka was implemented by USSR in 1928 A.D. setting record in the world history. The then Rana Prime Minister Juddha Shamsher, of Nepal, had announced 20 years paper plan which was unimplemented. So, at last, planning commission was established on Poush 20, 2013 B.S. which introduced the first five-year plan (20132018) in Nepal.
Consumer Rights:
Consumers are the customers who consume goods and services for personal purposes. So, the goods and services are consumed not only by the consumer but they can be manufacturers and service providers, suppliers and sellers as well. Any person can be a producer and distributor for one product, and can be a consumer for another product or services. Hence a consumer is any individual, institution, company, etc. Nepal's Constitution Part 3 Section 44 defines Consumer Rights in Nepal. It defines clearly that each consumer has a right to quality product and service. The Ministry of Commerce has defined consumer as any person or group that consumes goods and services. The Consumer Protection Act Article 2 defines a consumer as any person or organization that consumes or takes service
Consumers’ Protection Act 2055 was issued on 1 Baishakh 2054 B.S.
It defines the following:
1. Right to be safe from bad consumer product that can harm body, health or property.
2. Right to information about cost, quality, quantity, purity, etc. to prevent unethical business activities.
3. Right to choose product and service in competitive prices.
4. Right to assurance for consumer conservation.
5. Protection from exploitation from inappropriate business activity against consumer rights.
6. Rights to consumer education.
The Consumer Act defines the following that needs to be included by a producer in any manufactured product:
1. Name, address and registration numbers of the producer.
2. Foods and medicines need to include ingredients, quantity and weight.
3. Quality assurance stamp in the product that passes quality assurance.
4. Consumer product consumption steps and side-effects from the consumption.
5. The price of the product, batch number, production date, and expiry date.
6. Guarantee, guarantee date, and other details in the electrical components products, hardware or machinery products.
7. Warning notices in the products of flammable, accidental and breakable substance. Consumers have the right to complain if the goods or service is not according to the quality standard. In these cases, the consumer can file the complaint themselves, or go through any consumers’ rights group. The complaint can be made in Commerce Department, District Administration Office or nearby Police Station.
We can get the following from the consumer education:
1. This gives consumers the choice in consumer goods.
2. Consumers are aware of the problems that a customer might face in the market.
3. Consumer education provides consumers complete information about the market. This can help in the correct purchase of a product.
4. Consumer knows the quality of consumer goods.
5. The consumer knows about the government rules for consumer products. As a result, the satisfactory purchase can be made. Education and consciousness are necessary to know consumer rights. There is no knowledge about the consumers’ rights without consumer education. Consumer education is essential to understand the illegal businesses or low quality products. Consumer knowledge can be obtained through consumer education.
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