Congress has identified 12 challenges of the economy

It is mentioned in the document submitted in the party meeting that the Congress will take the initiative to solve the mentioned challenges .

The challenges pointed out by the Congress on the economy are as follows

1. Due to the lack of decent employment within the country, the Nepali labor force has to go to the foreign labor market extensively. Due to the lack of access to education and professional training, there is a problem of semi and full unemployment due to the significant proportion of the labor force who do not have skills, who have learned skills but are not in accordance with the market demand . Due to these reasons, we are not able to create decent employment opportunities for our young labor force who come to the Nepali labor market every year.

2. Due to internal migration, the hilly districts have been rapidly depopulated and rural occupations have increased only for women.

3. Due to unequal access to education, health and employment, existing and increasing socio-economic inequality among Nepali citizens is increasing the risk of increasing discontent and increasing instability within the country . The issue of economic and social inequality of the very poor, marginalized, Dalits, Tharu, women, tribals, Muslims, disabled people, backward classes, communities and regions is becoming complicated.

3. Due to the lack of economic and governmental governance, the enthusiasm of the people to invest has decreased and this has disrupted the overall economic environment

4. Although more than half of the labor force is dependent on agriculture, the productivity of this sector has not increased significantly and the programs that support this sector (such as embankment, irrigation, easy availability of seeds, access to the market) have not been effective, so that the overall poverty of the country has not decreased as fast as expected .

5. Due to some problems that have appeared in the implementation of federalism, the provincial and local governments have not been able to raise revenue as expected and have not been able to spend. They have not been able to provide government services efficiently. Due to this, there is a situation where more efforts should be made to increase people's commitment to federalism.

6. If public property cannot be built, there is a risk that the country's revenue will decrease in the future and the public property of the state will go into the hands of some people.

7. On the one hand, the government's debt is increasing and the ratio of domestic short-term loans with high interest rates has increased, the principal interest that the government has to pay has increased, on the other hand, due to the weak growth rate of revenue due to various reasons, the risk of instability has been created in the financial sector .

8. Abandoned projects worth billions started by ensuring random resources have not been completed for a long time. The cost of these projects has increased. Unable to spend public debt in the productive sector, unproductive debt is increasing . Development projects are not completed on time and the budget cannot be spent, and the returns from the projects are not received on time. The people are disappointed and due to this disorder of the past, the payment to the builders is yet to be made .

9. The productive sector has become weak. Due to the lack of expansion of this sector, the labor force is displaced from agriculture and has not become another sustainable and reliable sector . The economy is becoming more dependent on the service sector, so that the stability of economic growth cannot be assured . As milk, fish, meat, fruits, honey etc. agricultural products do not get the right market, our farmers are in economic trouble.

10. The remittance sent by the labor force that has left the country has become a major pillar of Nepal's economy to earn foreign currency. It will always be risky if there is no diversification in the sources of foreign currency earning (tourism, export etc.). Even though remittances make the external sector look good, in the recent past, remittances have not been able to be used in the productive sector, the trade deficit is increasing due to the increase in imports, a large part of the country's revenue is based on imports, etc., and our economy has not been strong.

11. Inadequate policy, structural and unstable political environment to develop the industrial business of Nepal in a sustainable manner, lack of domestic and foreign investment, lack of expansion of industrial business due to decrease in demand for products of local industrial and other sectors in the market, small and medium businessmen falling into financial problems, etc. have tied the legs of the economy. ;

12. The existing problems in government service delivery have directly and indirectly had a major negative impact on productivity, employment and economic governance . It is estimated that the share of the informal economy in the country is large due to the lack of good governance. All these reasons have led to criticism of the government's service delivery and increased frustration among the youth.

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Despite trying as much as possible to achieve many economic and social goals guided by the constitution, economic progress has not been possible as the people wanted. The grievances of the self-employed and those seeking decent employment are justified. Due to the lack of decent employment opportunities, Nepal's human capital (workforce) is looking for good opportunities in the foreign market, and the country's huge investment in labor force development has also gone out. As the educated and skilled manpower goes to the foreign market, the productivity of all the sectors currently operating in Nepal is decreasing . When the effectiveness of the overall production is reduced, the competitiveness of the domestic economy is likely to decrease and the country will be affected in the long term . This will have a long-term impact on the development and expansion of our industrial and service sectors and will make it difficult to achieve the goals of economic growth.

Climate change and disasters have also played a supporting role in weakening the economic capacity of our country. They have directly affected the production in the fields of agriculture, water resources, etc. and have caused economic losses. Production has decreased, employment and self-employment opportunities have decreased . Also, after increasing disasters, significant financial resources have been spent on rescue, relief and rehabilitation and reconstruction, but investment in the productive sector has not been made. It has a direct impact on economic development. There is a situation where we have to work with caution and invest in it now to reduce the financial loss of disasters in the future .

Respected general committee members friends,

The Nepali Congress has the power to solve the country's existing economic problems in the long term. We are able and do to solve these kinds of financial problems in the long term . The epoch-making reforms made after the beginning of people's rule from the Jahanian regime in 2007, the socialist programs including economic and social transformation introduced in 2015-17 and the economic and social policies based on the open market economy brought by the Nepali Congress to connect Nepal to the world market in 2048 in harmony with the world environment, all the results of development in 2056 The country was about to walk on a clear meaning-social path with the policies brought to reach the classes and communities. Due to the long-term thinking and policy of the Nepali Congress, the economy has stalled even during the decade-long internal violent conflict and the long transition period. With the experience of policy reforms we have done in the past, we can claim that we will solve all the social problems in the country. We will also do the conversion to the current structure . We have a proud history that inspires us for this . We have done it in 2007, 2015, 2048 and 2056.