Periodic plans refer to plans that are formulated for a specific period, usually short-term or medium-term. These plans are created to achieve certain objectives within a specific time frame. In the context of a country’s economic planning, periodic plans are used to set goals and targets for economic growth and development, and to allocate resources to various sectors of the economy.
In Nepal, the government formulates periodic plans to guide the country’s economic development. The periodic plans in Nepal are generally categorized into three types: short-term plans, medium-term plans, and long-term plans. The short-term plans typically cover a period of one year and are aimed at achieving immediate goals and addressing short-term challenges. The medium-term plans, which usually cover a period of three to five years, focus on achieving specific targets related to economic growth and development. The long-term plans, on the other hand, cover a period of ten to twenty years and are designed to guide the country’s overall economic direction and development.
The periodic plans in Nepal are formulated through a consultative and participatory process involving various stakeholders, including government agencies, private sector organizations, civil society groups, and development partners. The plans are guided by certain principles, such as inclusivity, sustainability, and equity. The government’s periodic plans also take into account global and regional trends and challenges, as well as the country’s specific economic and social conditions. The periodic plans are usually reviewed and updated periodically to ensure that they remain relevant and responsive to changing circumstances.
