Industrialization of Socialist-Oriented Economy Development in Nepal: Contribution, Possibility and Challenges of Private Sectors

The state produces goods and services to distribute to its citizens and its process is somehow related to social welfare. The government that has created an industry-friendly environment for the establishment of industries to provide goods at a price that people can afford. Investors are invested in the industry by making full use of resources and available materials to provide employment opportunities for industrialization in Nepalese economic development. Investors are not allowed to produce and distribute voluntary goods. The role of facilitator in production and distribution by fulfilling of basic criteria is prescribed by the socialist state. Socialism is believed in the advancement of the human race, the pursuit of equality among all human beings, the end of the system of exploitation of one human being by another, and the establishment of universal love between human beings. Although the government was instructed by the constitution to develop a socialist-oriented economy, the government could not achieve complete success. The policy of the state has to encourage private sector investment, due to inability that makes programs. Nepal has not able to move towards industrialization. If immediate steps could be taken to create an investment friendly environment in the industry to minimize the challenges of problems in the private sector, ample employment opportunities would be created. The government of Nepal has given priority to Indian imports and the policy of imposing higher customs duty on imports of raw materials than manufactured.