Energy Minister Kulman Ghising stated that while Nepal has undergone political changes, it has failed to achieve an economic revolution, attributing the country's lack of development to the failure to select the right leaders.
Speaking at the announcement ceremony for the Ujyaalo Nepal Party on Wednesday, Ghising emphasized that leadership is more important than ideology for the country's development.
Economic growth lagging
Ghising discussed how Nepal has seen numerous changes in ideology and systems over the 75 years since 2007 BS (1950/51 AD), yet economic development has stalled. He stressed that the nation's failure to thrive is a result of repeatedly failing to choose the correct individuals for leadership roles.
Illustrating Nepal's underperformance, Ghising provided a comparative analysis of economic growth since 2007 BS among Nepal, India, and China.
In a clear demonstration of Nepal's lagging economy, Ghising noted that the country's GDP has grown just 75 times—a sharp contrast to India's 150-fold increase and China's 350-fold surge in GDP over the period of 75 years.
"In 2007 BS, political change came to Nepal, and major political changes also occurred in India and China," Ghising said. "In 75 years, China has increased its GDP 350 times, and India 150 times. Nepal, however, could only achieve a 75-fold increase in 75 years. This is where we faltered."
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