When an arrangement is financially dependent, it is easier to avoid other causes. If it is already sealed inside, it will collapse even if there is a little wind outside. Citizens have no faith in an economically weak governance system. There is no clear theoretical difference between the economy of a republic and a monarchy. Despite the lack of democracy in some countries, the economy has progressed, and the indicators of prosperity are good.
A prime example of this is neighboring China. Nepal is a country with a history of martyrdom for democracy. That is why we have given importance to democracy and freedom here.
Especially the Nepali Congress is a party that attaches great importance to freedom. The core philosophy of Congress is to reduce inequality politically and economically
was emphasized. After 1862, the central event in reducing the gap between the rich and the poor in history was the abolition of Birta by BP Koirala in 2016. The abolition of Birta was done to take away the wealth of the rich and give it to the poor.
Economy in Monarchy
One should also study the economy during the monarchy to analyze the economy in the republic. While criticizing the monarchy from a political point of view, one should look at what the kings tried to do from an economic point of view. Among Prithvi Narayan Shah's children, Mahendra exercised the king's authority in total capacity after many generations. Although some kings exercised unlimited royal authority for a few years, Mahendra had an extraordinary opportunity to exercise the king's authority for almost a full term. Planned development (Five Year Plan), Tribhuvan University, and construction of some highways are seen to have started during his tenure. Again, the question remains whether this was done under Mahendra's wish or the result of the Tribhuvan period's initiatives and the pressure of the people's representatives at that time.
Again, the developments in our country have developed in such a way that even pre-democracy autocrats can find sufficient excuses to defend their actions. Rana Prime Ministers Jung Bahadur, Ranoddip, Virashamsher, Chandrashamsher, Juddhashamsher, Bhimshamsher, Padmashamsher, and Mohanshamsher can protect themselves by saying that I did these things despite my limitations in the circumstances under which I took over the government.
Even Jung Bahadur can say that when so many people are being trafficked, I gave stability to the country, brought the constitution, opened Darbar school, and opened a medical clinic. Chandrashamsher They can say that they started plans to build hospitals, telephones, roads, and trains in every district. He made Nepal independent. Thus, everyone had done something or another but needed help to create a sustainable wave. Towards the end of Juddhashamsher's tenure, even the Ranas began to feel that we could not manage the country this way. It was said that the citizens were too far away. Even though schools were opened in Nepal during his Padma's time. During the era of the Ranas, there was a debate about whether a university should be opened. Even then, many people did not like that they had to take their relationship from Patna.
Mahendra used to wander around asking for foreign grants. But the enthusiasm with which the Americans had come was lost after his autocratic intervention. It became a strategy to walk hand in hand with the Chinese, Indians, British, and Russians, showing one to the other.
Tribhuvan, who came after Rana, was 'soft' to the leaders. You used to say it. The people were also excellent. He did not understand politics very much. On top of that, the various power centers had to be kept in balance. He had heart disease. He also died three or four years later in the same Gharghur.
Mahendra was different from the start. He could not digest the distribution of power. By throwing the VP, he stood on the wrong side of history and played the gamble of Rajpat. The comparison of democracy vs autocracy that we want to discuss now is between the autocracy created from the seeds he planted in 2017 and the democracy brought about by the movements of 2046 and 2063. It is impossible to say how much Mahendra wanted to work, but there was time pressure after taking the risk.
All the Prime Ministers after 2003 had an 'empty' treasury of the country. Even after Padmashamsher, he complained that the treasury was empty due to Juddhashamsher, who had a lot of desire to work—earning money by cutting forests. The long run was gone. Sources of revenue were limited. Mahendra also had no money. The state also could not collect much tax. There were no literate people who could do technical work in the country. Educated people do not grow overnight. It is also necessary to invest in educating people. Mahendra used to wander around asking for foreign grants. But the enthusiasm with which the Americans had come was lost after his autocratic intervention. It became a strategy to walk hand in hand with the Chinese, Indians, British, and Russians, showing one to the other.
However, the country would not develop by asking for one or two factories. Even our current leaders need to understand this. Calling a country and connecting a few factories, roads, and transmission lines will not develop the country. One should be able to make a wave for the country's development. There should be one development after another. Only small jobs are done by asking, but no need to begin development exists.
After the Tiananmen Square Uprising in China, the monarchy was able to function just as it maintained a high rate of development to sustain the communist regime. But Mahendra asked around and limited himself to doing one thing. Mager has run the industry, but the human resources needs to be more competent. Industries run only through extreme competition. From this angle, the events of 2017 created an environment for the monarchy. People are looking for sustainable employment. The Panchayati rulers needed to understand this and the present political leadership. Infrastructure construction itself is not a source of sustainable employment. Construction creates jobs, then very little.
More than just building a big road is required. At the end of the month, until the money comes, the unprecedented infrastructural development around the ordinary people is discussed. Earnings should increase every month. Wages are the value of the marginal product of labour. Of what someone has done
The value of what is added value within that system is the salary. It is not enough to work in old ways; technology should be used to increase value. The more productive you are, the more productive you are, the more valuable you become.
The service and manufacturing sectors should increase to create a large amount of employment. Panchayat could not bring out such competitiveness. To increase competition, social capital, i.e. education and health, should have been invested heavily. We have started investing in it, but no one can invest today and get the return tomorrow.
People are individualistic
There is a country, and there are people, but there needs to be skill to compete to produce goods. A hundred/two hundred years ago and now, the status of knowledge and other economic opportunities are all the same. The main problem was the inability of those who came to power to deliver to the citizens according to their commitments. Rising unemployment is also becoming an issue in India. People are looking for what I'm getting at. Despite what it looks like on the outside, people are individualistic on the inside. If I am empowering a leader by voting, I look at what I am getting, but tiny about what we have. Road came in front of my house; today is fine, but he asks disgruntledly what I will get next month and beyond. The people also watch and compare the promises made by the alternative leader of the ruling leader.
People can go there if someone else says they will give 20 thousand while getting 10 thousand because people are constantly looking for choices. It isn't easy to keep pace with their ambitions. Governance is like riding a tiger. The Panchayati ruling circle was later in despair due to its incompetence. From 2017 to 2037, there was no significant increase in per capita income. According to panchayat documents, the per capita income in 2017 remained the same as in 2037, at $140.
You can see that disappointment in Yadav Prasad Pant's initial budget. That disappointment is also seen in the articles written by the learned economists of the Panchayat period. There were educated people in the Panchayat too. In the writings of Pashupatishamsher, Bharat Bahadur Pradhan, Yadav Prasad Pant, Harak Gurung, and Devendra Raj Pandey, the 'frustration' of the Panchayat system is seen. Even looking at the Vishuddh Panch Rajeshwar Devkota document, it will say that it was challenging to deliver. Around 2036, BP said that the Panchayat could not deliver because it did not have a participatory character. Campaigns conducted by Panchayats Some only became ordinary citizens. Groups of cheerleaders grew up around the king. But you also understand that it could not be delivered in the punches documents.
Panchayat collapsed due to financial crisis.
In 2017, the king's desire for active rule was the first step towards a republic. After three decades, the Panchayat was gone. Ultimately, Tulsi Giri, the ideological leader of the system, left the country. There was nothing left to think about.
The 6 class organizations of the Panchayat will also have no power. After 2046, when Congress-UML opened the door, they all started entering the party. Panch's parties won only 3/4 of the seats. It was seen that the king's own power had diminished. Mainly in the latter part of the Panchayat, the Panchas took loans, saying that they would break the roots of development. Around 2040, Foreign debt was high. Then, we moved on to the structural adjustment of the International Monetary Fund. By 2046, the economy depended heavily on foreigners, with 62 percent of the budget being foreign loans and grants.
During the 2046 movement, there was a budget of 25 billion and a revenue of 12 billion. The Panchayat collapsed with a debt of 70 billion rupees. In this way, there is a political and economic reason for the collapse of the Panchayat. When an arrangement is financially dependent, it is easier to avoid other causes. If it is already sealed inside, it will collapse even if there is a little wind outside. Citizens have no faith in an economically weak governance system. During the 2046 movement, there was a budget of 25 billion and a revenue of 12 billion. The Panchayat collapsed with a debt of 70 billion rupees. In this way, there is a political and economic reason for the collapse of the Panchayat.
In 2046, only 235 MW of electricity was produced, and only 9 percent of the people had electricity in their homes. There was no job after graduation. A sack of manure took a lot of work to come by. During the land reform period, the common cooperatives opened with the money forced to save the people, who were hampered by the need for better governance. There used to be a long line of farmers in common. It was a disappointment. No one can work overnight in a country whose legacy is backward. Instead of taking positive initiatives, royal family members indulged in corruption themselves. Since the idol theft, the Arab and dollar scandals have become public. Important ideas are not unknown or unknown. The knowledge about some essential government instruments was already before 2007. The discussion and implementation of decentralization started after Chandrashamsher formed Bhotahiti Municipality. During the Rana period, the Chief Justice was chosen by voting. They also said they needed a Public Service Commission.
In 1962, the practice of recruiting civil servants through examination was started. The constitution brought by Padmasamsher in 2004 was also acceptable. The Ranas had also prepared and discussed getting the budget. But in 2008, it was time for Congress to implement it. The Ranas were also ahead in foreign relations. They moved to America and formed a relationship.
To some extent, the Ranas gave recognition to Nepal as an independent state. Despite this, they could not work to create a wave to achieve the speed of development, so Nepal could not move forward. They could not keep pace with the world. The same happened in the case of panchayats. Even those who came up with a new idea could not show the ability to carry it forward and implement it effectively. The issue of privatization of institutions is a prime example of this.
Congress and Privatization
Even before 2046, there were discussions about the need for privatization. Public institutions have already begun to collapse. Be it the budget brought by Surya Bahadur Thapa in the year 2036 or the budget of Kirtinidi Bista for the year 2027/28, there is an admission that we could not run public institutions. Important works like the merger of Timber Corporation, Indhan Sansthan, and Forest Production Development Committee, the privatization of the Chandeswari Textile Industry, and the Nepal Chiuri Ghee Industry were started during the Panchayat period.
Humans only make mistakes by knowing. Mostly
Even though you know you can't do it. Justice should be done, the country's money should not be taken, corruption should not be done, and all Nepalis should be treated equally, but it takes time to implement. Some people can't. People are in a dilemma as to what to do when they get power and money in their hands. After 2047, the work of the Nepali Congress-led government for the first three years was worth watching. Electricity, privatization, and many other laws were made. At that time, many industries were opened. Airlines, banks, and insurance are highly exposed. Privatization was the demand of time, as mentioned before. In the year 2046, when the revenue rose to 12 billion, the projected loss of the 64 public institutions that went into loss was Rs. 79 crore, and the actual loss was Rs. 1.87 billion. In 2048, the total loss reached Rs.2 billion 48 crore.
According to data from 2047, the government's total investment in these institutions is Rs.3 billion in stocks, and Rs.7 billion was in debt. Their overall return was Rs. 1 crore, 24 lakhs that year. In this way, a country with low revenue and heavy debts could not run. Even now, while all other cement factories are making a profit, Udaipur cement factory is experiencing losses. Public institutions have become the centre of corruption since the Panchayat period. Some surveys at the time showed that more than half of the board members and even the CEO needed more experience. Thus, public institutions could not run properly even during the Panchayat period. In the year 2048, in the country that earned 12 billion in revenue in the same month, it was said that after eating a loss of one and a half billion, selling shoes and slippers to sell what they could live on.
However, we have been welcoming the private sector to other areas as well. The private sector has been welcomed in education since 2036. Even Padmasamsher's policy on education was that I cannot give money; if you open a school while giving land, I will leave it. People thought that investing in education and health was okay. Let's let those who have money in 2036 to 2046 do it. Later, Congress made a policy that social sectors like education and health should not be used as a means of wealth centralization. As much as possible, education should not be left to the private sector as a means of making a profit because it has economic-political risks.
The risk is that education is the only way to give poor people a chance to become rich in our country. If you pay a lot of money to get a good education and less to get a lousy education, today, the son of the rich will get a good education, and the child of the poor will get a lousy education. This means that better-educated people will earn more, and those with low incomes will earn less. In this way, wealthy people will be rich tomorrow, and inequality will continue for generations. In principle, education can reduce existing inequalities in society. Education is the way to make the poor rich. On the one hand, education is seen as a way to reduce societal inequality and privatize it in practice.
By walking the path, education could no longer serve that purpose. It is certainly not right that the means of making society equal should become the cause of inequality. Bhim Bahadur Pandey wrote in Nepal that there were few civil service jobs even during Rana's time. He should have come to Kathmandu to study. Civil service exams were conducted only here. Even a poor, upper-caste person could not go and live in Kathmandu, so who would have allowed Dalits to live in Kathmandu at that time? It was easier for a man with extra income, relationships, and confidence. Despite the various reforms in civil society opportunities, is there still some form of inequality due to the unequal distribution of education?
Along with education, every citizen should have good health. Education and health should be made equally accessible to everyone, and everyone's level should be raised. The economy given by the Panchayat around the year 2048 is good. The government was not in debt. The government cannot. It was said that we would provide freedom if people could work for themselves. If someone comes to invest in electricity, why not? Why not if someone is rich and says he will open a bank? It is not true that the same argument will last forever, even if it is strong at the time. The country's goal is to create an equal and just society; its essential tool is advanced community education.
The main task of the state is to make people feel that they are all equal. The state should be everywhere. Whether or not the state should sell cigarettes should be answered. We are a community of one and a half hundred. There are more than 120 languages. Nepal is a country full of inequality. It is an unequal country where some castes and some families have been living for 200 years.
The goal here is that all communities should be promoted. All should be equal in opportunity and access. What is the instrument?
There was no clarity. Which instrument is the most fair? The right instrument is to be identified and used by the state. The state followed the path of privatization to open up the private sector in every sector around 2040. It, therefore, creates opportunities and improves the economy. We must keep reviewing the means adopted for a purpose at any given time. The liberalization of the Nepali Congress in 2048 had a good effect on the overall economy of the country. The revenue increased two times when the government came. Exports tripled from 7 billion, and foreign exchange reserves more than doubled from 18 billion rupees. Nepal was one of the countries with the highest economic growth in South Asia.
Communist Anarchy and Economy
Privatization did not only have positive effects. One of the downsides is the increase in inequality.
The risk was high. The person who was with me yesterday has now opened a school and earned money; it must have cheated us. I am in the shoes, and it gives the feeling that the car has started to walk. The disparity was seen when compared in that way. This was happening in response to long-standing inequality. That's when the Maoists came and took hold of this issue.
For years, people had feelings about why are we unequal and poor; people with such feelings got 'wavelength' from the Maoists. Unfortunately, the Maoists targeted Congress, which had been in power for only 2/3 years after a great struggle of more than three decades. Panchayat suppression, murder-violence, and generations of Congress workers who have been jailed since 2007 have been targeted by Maoists in villages. Because Congress had a firm grip on the grassroots. The Maoists are violent on the issues that should be raised in the elections as
The result was a decade of fighting and another decade to settle it, with no development for 20 years. Even though there is little development now, the road has reached so many places. Every year, something is to be done in every place. There are so many municipalities. All development came to a halt during the war. The communists started distributing old age allowances on a classless basis. State aid was given to all people experiencing poverty. A policy of distributing old-age allowance to all was introduced in countries with weak revenue collection capacity. How helpful are categorical aids? There was no communist principle of equal distribution to all, rich and poor, but direct vote politics. When the Communists came to power, they followed a chaotic economic policy of their own accord. There were some benefits in some areas, including the social awakening of the Maoist conflict, but nothing like benefits. It also works. But was that option of going to war the right one?
Birendra initially cooperated with the Maoists without suppressing them. The cholera scandal against the Congress, which adopted a strict policy with the Maoists, took place. The way Birendra was treating Girijababu around the cholera scandal was a non-cooperation that everyone could see.
Therefore, the first to carry the Maoists are Birendra, Gyanendra, and Dhirendra. Baburam Bhattarai has written an article about how Prachanda wanted to cooperate with the king until the last stage. The kings sought an opportunity to swallow democracy again by pretending to be Maoists. Gyanendra took the last gamble on this, which was wrong.
The concept of armed police during the Maoist War came about. The army, which was previously 30,000, was increased to 90,000. The number of police was increased. State expenditure increased and was used for internal and external defense instead of development.
In the meantime, the communists started distributing the old-age allowance on a classless basis. State aid was given to all people experiencing poverty. A policy of distributing old-age allowance to all was introduced in countries with weak revenue collection capacity. How helpful are categorical aids? There is no communist principle of equal distribution to all, rich and poor, but direct vote politics. When the Communists came to power, they followed a chaotic economic policy of their own accord. Congress also took forward the 'Social Transfer' program. The program of giving free education up to 10th grade before the old-age allowance, giving incentive allowance to women and Dalit students in ten remote districts, and giving allowance to disabled and widowed women is the first program since 2048.
Some of the essential class-related programs carried out by the government are examples. Along with this, reforms were carried out to increase the country's overall revenue, and a policy of maintaining economic discipline through VAT was adopted and developed revenue groups in the Ministry of Finance. Efforts were made to attract investment through privatization.
The Maoists campaigned to eliminate the Congress from village to village. UML became democratic, but its understanding of economic issues was feeble then. In a way, he did politics without principles. The vision needed to be clarified. Somewhere, he went and gave a speech about land distribution. What did he say? Apart from Manmohan and Bharatmohan, the rest of the leaders were young. It used to be that the leader could be the one who could speak loudly. He needed to have the maturity to think by looking at the data. Radicals dominated the brains of exports and imports in Nepal by 2058-59. The ratio was the best. Around the year 2050, a great opportunity came to the country. When Ramchandra Paudel gave a speech that he would teach 10,000 people in Japan every year, everyone was blown away. If there is no job in Nepal, you should look for it abroad!
At that time, if Nepalese got a job, they were ready to go from Bangladesh to work in the coal mines of Assam, even for a hundred and fifty dollars a month. Even though he knew he would die, he went to join the foreign army. After the multi-party system came, Congress established that the passport was a right of citizens, and Nepalis started going abroad. Gradually, they began expanding to Malaysia, Japan, and other countries through the Arab countries. Initially, lakhs of people were dismissed as graffiti and were not found employment. Even though it looks terrible today, the proposal to go to the Gulf, Malaysia, and other countries to work in productive, service, and agricultural sectors was much better than going to a hazardous coal mine to join a foreign army. And it was safe.
For the first time around the Rajdarbar massacre, foreign reserves reached 1 billion dollars in Nepal. The size of the budget was cut by one trillion. Imports began to flow. It increased the rate of revenue growth, and civil war did not destroy the state.
War-stopped infrastructure
The war has significantly affected our infrastructure. We also have one of the worst infrastructures in the world due to the war. Just as there was extensive work done in Europe during the Rana period, and we remained silent, in the same way, when there was so much good work in infrastructure in our neighbourhood, fighting could not do anything in Nepal. There was a long transition after the Darbar massacre. Around the year 2064, the Maoists almost won the majority. Directly, they won half of it alone. At that time, the issue of political inclusion was raised a lot.
But inclusion is not just about winning elections. What is the ratio of studying higher education? A good percentage of Branch Officers, CEOs, and travellers are from the marginalized, which is inclusive. Inclusion should be multifaceted, not just about winning elections. The inclusiveness we have practised so far has made some progress in social justice, but more is needed. Many works related to inclusion have been done in 2064 when some Nepal Acts were amended. The ideological pressure of the Maoists has brought positive results, especially in social justice. But we are talking about the economy. Along with the belief that where justice is good, the economy is good, we should remember that social justice can be strengthened if the economy is strong.
The Congress raised its voice against injustice and atrocities around 2010-17. In the year 2056, He did very well during the time of Mahesh Acharya. Even in 2048, the main agenda was to go to the village and develop the town! At that time, a commitment was to take 70% of the city's budget. From roads to village health posts, priority was given from the then budget.
The war has significantly affected our infrastructure. We also have one of the worst infrastructures in the world due to the war. Just as there was extensive work done in Europe during the Rana period, and we kept quiet, in the same way, when there was so much good work done in infrastructure in our neighbourhood, fighting could not do anything in Nepal. Let's make our village; Congress has started Swavalamban Kosh. As the Congress sent 10,000, 15,000, 30,000, and 50,000 villages yearly, UML slightly increased the amount and changed the program's name to 'Let's build our villages'. Whatever happened was very good because, since the time of Chandrashamsher, decentralization has been said, but it wasn't easy to send the budget to the villages.
The trend then began to take off.
It was a good initiative on behalf of the Maoists around the year 2064. Baburam Bhattarai increased the revenue by 33 per cent. Later, some things seem to be trying to start with good intentions. Good works such as getting heads of public institutions through competition and schemes of national pride were started.
However, the problem is that more than ideas are needed. Just as Jung Bahadur opening a Darbar school was not enough, bringing some CEOs from the competition was not enough. It must be sustainably good. Every year, the increase had to be taken out. That's what China did. It produced more than 8/9 per cent growth every year for three decades. A good deed is not done just once. Maoists say they are excellent and fair, but they don't stop seeing only relatives and those who fought yesterday as worthy. Deng Xiaoping said that even if the cat is black and white, you should kill the mouse. Not so here.
Girijababu went to Suryanath Upadhyay's house and offered that there is a need for good leadership in the authority. He was not in Congress. Girijababu also dared to make Kedarbhakta Mathema the Vice-Chancellor of Tribhuvan University. I am not a person who has been active in Congress politics, but I have been made the vice-chairman of the National Planning Commission.
In 2048, Sukhdev Sah was brought from the US and tried to become the finance minister. At the same time, many qualified leaders within Congress have been giving up for decades. The Maoists who came in 2064 needed to show the ability to give posts to people outside the party. They needed help institutionalizing even a single piece of work.
Now, who dares to make the authority outside their core people? Because he is powerful from the day of his appointment. From the day he gets caught, people start behaving like criminals.
Dream of prosperity, slow growth
Even after the constitution of 2072 and the establishment of peace, we could not achieve sustainable GDP growth. Thailand had sustained 7-8 per cent growth for 25-30 years. China's rate has stayed below 8 per cent since we left. Where there is an increase of 8 per cent, the increase doubles in 9 years. After 30-40 years, even the countries with the same economic level will have advanced a lot.
But our growth could have been more sustainable. Sometimes it has increased, sometimes it has decreased. I was surprised. After 2072, the earthquake went away. Although there have been political struggles, we must pay more attention to institutional reforms.
Despite that, privatization made progress in electricity. It became a great success story in Nepal. Out of 3,000 megawatts, only 1,000 have been built by the government. Because it is difficult for the government to work. Government project costs have skyrocketed as the government has to do more work.
Excessive debt raised by Oli
In 2074, a joint government of Maoists and UML was formed. Although economic growth was more than 6 per cent in the two years before and one and a half years after the coming of the government due to reconstruction after the earthquake, the biggest weakness of the KP Oli government was that the debt increased enormously during that period. It is necessary to investigate how the debt increased so suddenly. The debt of the state has now reached 24 billion. In the meantime, they had risen from 8 to 18 billion. The state's debt has stayed the same in the history of the Oli government.
Even though the debt increased enormously, they only did little to increase the state's revenue. Airports are built, not run. Airports were built in villages. If a good road were made, the result would be visible. Looking from Kathmandu, one from here to Naubise, the other to Chitlang, one could see that if a tunnel were built towards Dhulikhel, it would be easier for people to move around. Professional areas could be combined. Work should be done in the village, but revenue-generating work should be prioritized. This is the right way to work. Fifty-six meeting halls were built, but there is no income from it. The airport is at a loss. A view tower has been built. Buildings worth billions, including towers, have been constructed in Kathmandu. Temples are built. Where does the revenue come from?
Now, where the problem has arisen, external loans could not be taken randomly at that time, so internal loans were added. They started making a budget to do three to three billion in internal borrowings a year. How many contractors ran away with the money due to haphazard contracts? There needs to be better data on how many contracts have been awarded by any ministry and contracted in the name of the contract. There was utter chaos in resource assurance. Fifty-six meeting halls were built, but there is no income from it.
The airport is at a loss. A view tower has been built. Buildings worth billions, including towers, have been constructed in Kathmandu. Temples are built. Where does the revenue come from?
It is also said that when a contract of 5 billion is awarded if the contractor has 100 million in hand, he will walk away with that. There is no hope that he will get 5 billion. Ten crores have been taken; they have yet even to work. There has been widespread irregularity in grants. Like the Prime Minister's Youth Employment Program, workers were fed by uprooting weeds with $150 million from the World Bank. Such was the chaos. 3 billion, a metro would have been built in Kathmandu. Today, we have to go abroad to see the Nepali Metro. Metro is everywhere. Koteshwar-Kalanki Road has been expanded with a Chinese grant, but the rest of the work has stopped. Thus, we are one of the most backward capital cities in the world in terms of road infrastructure.
After the earthquake, there was a classless policy on giving money to build houses. To help people experiencing poverty. Is it supposed to provide equal funds to the rich and the poor? At the time of Juddhashamsher, when there was an earthquake in 1990, the first loan was given. Those who could pay were barely forgiven. During the time of Bhimsen Thapa, in the year 1890, when there was an earthquake, he built it himself. After the earthquake in 2045, the loans taken by citizens were written off in 2056. Some say that how do we distinguish between the rich and the poor? There may be 5-10 per cent mistakes, but the poor and rich should not be given equality. The current monthly old age allowance of 4,000 is given only to 20 per cent of the poorest people in the country. There was no such thing as 'poverty in old age'.
Economic chaos is widespread after 2074. We have brought this appeasement to its peak. We have abandoned financial discipline. The biggest problem of the Communists was that they could not get much investment from China, nor did they. By improving relations internationally, he created the ability to bring in extensive investment. They have yet to demonstrate the ability to mobilize resources internally either. Communists played a good role as the opposition in pointing out the mistakes. But he could not show the ability to work on his own. The seriousness and delivery that should have been done to take the responsibility of running the country did not happen. Could not run macro instruments. It was like someone who could use a nail cutter but could not use a hammer.
Nepalese economy in the face of risk
Nepal may have a lot of problems for the next 3/4 years. First, there is a need to increase revenue. If we collect only 10/11 billion in revenue this year, our debt will soon reach 40 billion, and we will not be able to repay the debt. If we continue in this way, we may not be able to pay salaries within 3 to 5 years.
Due to the government's debt, we have faced such a challenge before, even in 2048. We dealt wisely, then. There is money in the bank for two or three years. The government can find a domestic debt target. This means that the government's debt will increase.
I have heard some people, especially the former finance minister, saying that our debt is only 40 per cent of GDP; it is not our problem. But we should never think that way. We only look at debt in proportion to our revenue, whether we can pay it or not. Four and a half billion will have to be paid this year. If you earn only 10 billion, where will you pay? Nanga nahaayega kya aur nichodega kya? As said.
We were in dire straits two years ago, not just in foreign exchange. Foreign exchange has barely depreciated. Looking at the statistics of Oli's last six months and the first six months after his departure, the foreign currency dropped sharply by 2.54 billion dollars. We want to stop that. We made a mechanism, and now the foreign currency has reached 14 billion dollars. It is the highest in the world. Because immediately we banned imports.
If we do not find a source of sustainable revenue sooner or later, the worst will hit. It can hit important programs like old age allowance or salary. A situation is created where poor people cannot be given the facilities they are given. People then said remittances should be brought in more because everything is going out. Bangladesh has offered 5 per cent cashback. They used to demand that it should be provided. Now, that problem has been solved intelligently because we have made the right policy so that the government expenditure does not increase and the foreign currency also increases. In this way, we need other policies that intelligently save the government's expenses as much as possible and move the country forward.
Like, when generating 20 20,000 megawatts of electricity, hydroelectricity comes back to the state's name. The revenue alone is worth 6/7 trillion to the state at today's prices. Such sustainable sources of income should be found, not just based on import-based revenue. Only then can the economy be boosted.
If we do not find a source of sustainable revenue sooner or later, the worst will hit. It can hit important programs like old age allowance or salary. A situation is created where poor people cannot be given the facilities they are given. In the same way, it is necessary to review the leakages that are happening in the border area by the security agencies and the customs in the border area and the exemptions such as tax exemptions and customs exemptions given unnecessarily to various individuals or groups in the last decade under the influence. Investment should be increased by any means to increase economic activity, and there are many such areas. No one comes calling to invest. For this, the government must be credible. At least everyone should follow the law. Money should also be given to implement the same law.
The situation did not happen. Trust in the state only grows over time. Many people now keep money at home and say they will not open an industry. Politics is not the only thing; let's not only insult leaders and parties in the circle of questions. There are many authorities here. The decisions of courts, authorities, bureaucracy, and parliamentary committees are also under question. There is a perception that employees do not decide for themselves; if they do, they demand a premium.
There are two sources of increasing economic activity—foreign investment. If you read the history, we have all the lands of Terai and won them. The land is owned, but the animals do not pay taxes. During the Rana period, it was customary to give 10/11 per cent of that land as a share if a person ploughed a field and cultivated it. The main reason for this is that Nepalese do not have capital.
To the landlords of the then British-India
We tried very hard to attract. He pays taxes if he comes here, ploughs the land, and cultivates it. Increases economic activity. It was not just by looking at the forest or just playing hunting. In that sense, we have destroyed you. There has been widespread destruction. From raising the river to bringing the barren land into production, we worked on the policy of attracting foreign nationals. Many Indians came then. Let's not just insult the leader and the party. There are many authorities here. The decisions of courts, authorities, bureaucracy, and parliamentary committees are also under question. There is a perception that employees do not decide for themselves; if they do, they demand a premium.
To increase economic activity, we should ask people from abroad to come and live, work, and open hotels. Opening a large hotel means employing 500 people. Rather than seeing how much profit he made, We also need a positive mind to see how much it helped us. Americans see it this way positively. They make such a policy that many people who do good work stay there. Investors live there. Hasn't there been a situation of trying to escape from the day investors came to us?
Another internal investment. Are the citizens of the country eager to invest in property here? Now, many Nepalese children are abroad. When they don't feel safe here, a large population sells their property and goes abroad. Instead of bringing foreign investment to Nepal, it should be emphasized that they should stay within the country.
What to change in politics?
Many countries have risen from poverty to riches like ours. We should act honestly. Let's be transparent. Let's get others to invest here. Let us establish the rule of law. It is not a situation that can be done by politicians alone. Even politicians are less powerful than we think. However, it is they who create the environment. They can at least make the right policy. But here, if the leader says he will build the transmission line, the court can stop it. We have so many checks and balances that the Prime Minister cannot issue a subba here. There is a situation where the court can stop the decision of the cabinet. The work stops when the parliamentary committee calls and shakes the staff. Authority does the same. In such a situation, where is the power of the politicians here?
Power is now highly decentralized. I did not get to associate with Girijababu. People said he felt power. He would go ahead with the courage that he could do it. At present, the situation is not such as to give such a push. The concentration of power is in multiple places. We consider checks and balances to be good, but it comes as a weakness when attracting foreign investors into the economy. Foreign investors have not visited countries like China, Vietnam, and Cambodia due to their democracy. Even Lee Kuan Yew was not a democratic leader in Singapore. Teslas are going under the Narendra Modi regime. Investors are not looking for democracy here. Saudi Arabia attracts people by holding investment conferences. Investors are looking for security of investment and security in economic activities.
It is not a situation that can be done by politicians alone. Even politicians are less powerful than we think. However, it is they who create the environment. They can at least make the right policy.
Democracy is a luxury. Because the people in our country have lived under a highly oppressive and undemocratic regime in the past, we want to be at least able to speak up. To be able to walk without fear. I'd rather not have a car in my house. Whether I have a job or not, whether my son should go abroad and work, that's fine, but I should be able to speak in this country. I need a system that no one can cheat. That's what we've been up to.
In America, too, people want democracy, but they also want people like Donald Trump. The people of India, who have practiced democracy for a long time, now have Narendra Modi as their first choice. People's commitment to democracy should, therefore, not be taken for granted. If the aspirations of the people are not well understood, then one day, the people in our country may get angry and vote for a person who says, 'I will throw away this system; I will burn the parliament'. Our current challenge is to ensure development that is inclusive of democracy. It is not easy because it is slow. I can't get it. It's chaotic. But people expect development to happen overnight. The road is supposed to be built overnight, but the householder filed a case in court.
It is also said that the construction can be stopped overnight. We have so many conflicting aspirations. However, we all want democracy to survive. For democracy to survive, it must deliver. If we don't deliver, we can't save it for long.
Post a Comment