Government Aims to Reduce Poverty Rate to 10 Percent Within Five Years

April 14, Kathmandu – The government has announced a commitment to reduce the poverty rate to 10 percent within the next five years. Based on the manifestos of six political parties, the national pledge aims to cut the current poverty rate, which stands at 20.27 percent, by half during this period.

“Through a balanced and complementary development model between the private, cooperative, and public sectors, economic and social inequalities will be reduced, resulting in a multidimensional poverty rate declining to 10 percent within five years,” the commitment states. Additionally, the government has set targets to raise the average economic growth rate to seven percent, increase per capita income to three thousand dollars, and bring the total gross domestic product close to 100 billion dollars over the same timeframe.