Politics of Economy

Politics of Economy

May 22, 2017, 9:45 p.m.

For the first time in over two decades, Nepal has made a big progress in the economic front achieving the growth of 7.5 percent. The World Bank’s recent economic update reveals that Nepal’s economic growth is a major gain but there are risks as well. Alongside this economic success, Nepal has also held the first round of local elections successfully after two decades, giving the current set of political leaders a sigh of relief and people some change. As in the economy, high risks are there in the political front before the leaders repeat this success in the second round. Nepali politics will have to go through many other political processes, including the election for the new prime minister, amendment of the constitution, presentation of new budget and restructuring of the number of local bodies before the second round of poll slated for June 15. Although prime minister Pushpa Kamal Dahal has publicly said that he will fulfill all his promises, including paving the way for a new government under the leadership of Nepali Congress leader Sher Bahadur Deuba, the coming months are likely to be shaky. There is the need to fulfill the mandatory constitutional obligation for the completion of the election of prime minister. There is also the need to look at the constitutional provisions to present the budget before May 31. Among others, the fate of constitutional amendment bill is likely to be decisive given the stand of Madhesh-based parties. At a time when ruling parties do not have much needed two thirds of vote, the decision of CPN-UML is going to be vital in the entire process of constitutional amendment. Even for facing for Madheshi parties, the three parties need to agree on the amendment of bill. Without which the participation of Madhesh based parties in second round of election is unlikely. If the elections are held without the participation of Madhesh based parties, the legitimacy of the constitution as well as the local elections will come under question.  How Nepal’s political process will move will depend on the wisdom of leaders of the three major parties. We have looked at the various aspects of the political scenario following the completion of the first round of elections as our cover story for this week. With the Promotion of Sustainable Agriculture for Nutrition and Food and Security (POSAN FS) by Practical Action, the people of far west have a reason to rejoice as it has shown how a small program can bring a drastic change in food security, women empowerment, commercialization and nutrition. We have covered the success story of POSANFS in this issue. We do also have regular columns and other contemporary issues.



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