Perhaps the most encouraging feature of this election is that nearly all major political parties have placed national prosperity at the centre of their agendas. The shift from ideological contestation toward concrete development blueprints is undeniably positive. Including economic commitments in election manifestos is important—but even more crucial is their sincere implementation after victory. An emphasis on economic priorities also signals that many of Nepal’s fundamental political questions have largely been settled. Constitutional and political reforms can continue to evolve through practice. However, economic development remains the decisive factor. No political system—whether democratic or otherwise—can sustain itself without sustained economic growth. Without tangible improvements in livelihoods, political promises risk becoming hollow rhetoric. The main contenders—Nepali Congress (NC), CPN-UML and the Rastriya Swatantra Party (RSP)—have all given significant prominence to economic issues in their recently unveiled commitments. Nepal’s per capita income currently stands between 1,496 and 1,535 US dollars. The NC has pledged to raise this to 2,500 dollars, while the RSP has set an ambitious target of 3,000 dollars. Though such promises are not unprecedented, their credibility will depend on realistic implementation rather than electoral appeal.
The UML has pledged to build a Rs 10* trillion economy within five years and Rs 200 trillion within a decade. The RSP aims to expand the economy to 100 billion US dollars, while the Congress has targeted an economy worth Rs 115 trillion. Expanding the size of the economy is essential to improving citizens’ living standards. Sustained growth—not sporadic measures—must remain the focus. Equally important is public vigilance: citizens must hold parties accountable for translating pledges into action. Ambitious targets without execution risk becoming mere campaign slogans. Historically, the Nepali Congress has championed liberal economic policies, whereas the UML has favoured a stronger state role in industry. The RSP, a rising political force, is yet to clearly define how liberal or interventionist its economic stance will be if entrusted with governance. Past governments have initiated reform programmes and community-based development initiatives, but today’s challenges—rising unemployment and a widening trade deficit—demand a more decisive and coherent economic strategy. Failure to deliver could erode not only trust in political parties but also confidence in the democratic system itself.
I will deliver on my election promises: PM Dahal
Employment generation remains Nepal’s most pressing economic concern. Governments must clearly outline how many jobs they intend to create and through which sectors. The UML has pledged “Jobs at Home, Work at Home,” while the RSP aims to generate 500,000 IT-sector jobs. The Congress has committed to launching a second phase of economic reforms. Yet piecemeal or symbolic efforts will not suffice. Nepal requires bold, structural reforms and sustained investment to revitalise its economy. It is heartening that economic roadmaps now feature prominently in party manifestos. The real test, however, lies beyond the ballot. Parties must demonstrate the political will to implement what they promise. Avoiding the past tendency of neglecting manifesto commitments will be essential. A collective commitment to sustainable economic development is commendable—but delivery, not declaration, will determine its success.
*Corrected
