Nepali Political Parties Woo Voters with Lavish Loan and Grant Promises in Election Manifestos

Kathmandu. Major political parties and candidates are campaigning with great fanfare for the House of Representatives election scheduled for February 21, presenting attractive manifestos under various names to woo voters. Some parties have named their election manifestos as 'Pratigyapatra' (Pledge Letter), others as 'Vachapatra' (Promise Letter), and some as 'Pratibaddhata Patra' (Commitment Letter).

It has become routine for political parties, often accused of neglecting the promises they made after winning previous elections, to throw new and attractive 'dice' at the voters in every election.

Parties make new promises or commitments in every election to avoid the fear of defeat if they fail to present new and attractive 'dice' of assurances to the voters.

The attempt by some candidates and political parties, who might not even complete their term by the time the next election arrives after winning one, to woo voters by making promises they cannot fulfill has created a state of confusion among the voters themselves. Nevertheless, the right to decide whom to vote for or not remains safely with the voters after studying the manifestos or promise letters of the parties and candidates.

The fact that citizens' trust in any party, new or old, is shaken by the continuation of the tradition where parties distribute hollow papers and verbal assurances without a clear basis for fulfilling promises is often overlooked by them. There are numerous examples where, in the race to win elections by saying or showing anything to the voters, candidates have been unable to work afterward, even if they won. As a result, despite growing public disillusionment, they overlook such incidents during elections.

At a time when the country and its citizens are facing economic problems, major political parties in the upcoming election on February 21 are largely tempting voters to their side through promises of loans or grants in their manifestos, just like in the past.

Specifically, what kind of loan or grant expectations have the major political parties—Nepali Congress, CPN-UML, CPN (Maoist Centre), and Rastriya Swatantra Party (RSP)—expected to lead the government after the next election presented in their manifestos for the February 21 election? Ratopati has scrutinized their manifestos regarding this.

UML's Hope: A 'Dice' of 2 Million to Win the Election

CPN-UML has made its manifesto public with the slogan 'Prosperous Nepal, Happy Nepali! National Aspiration is Our Destination' and is seeking votes from the electorate. Its election manifesto for 2082, published under the banner 'UML will build it,' includes provisions ranging from waiving loans up to NPR 25,000 to providing interest-free loans up to NPR 2 million to students. Furthermore, it has announced a plan for paid internships in its manifesto.

'We will provide interest-free loans up to NPR 2 million to students wishing to pursue higher education in technical streams,' states page 41 of UML's 80-page manifesto. 'We will arrange for internships with minimum wages in government service, private sector businesses, and teaching sectors.'

Moreover, UML has also announced providing interest-free loans up to NPR 2 million to women entrepreneurs.

'We will provide easy access to interest-free loans up to NPR 2 million for women entrepreneurs through banks and financial institutions to develop women's entrepreneurship,' UML stated in its manifesto.

CPN's Support: Concessional Loan of 1 Crore

The Communist Party of Nepal (CPN), formed by various communist factions and led by Pushpa Kamal Dahal 'Prachanda', has gone even further than UML, announcing concessional loans up to NPR 10 million.

The party's election commitment letter prioritized 'Entrepreneurship Development,' announcing concessional loans up to NPR 10 million for Dalits, minorities, and persons with physical disabilities.

'Loans up to NPR 10 million will be provided for 10 years for Dalits, minorities, and persons with physical disabilities who wish to engage in production and employment-oriented enterprises,' the CPN's manifesto stated on page 21, adding that the interest rate on this loan will only be 5 percent.

Amid rising unemployment in the country, the party has also put forward several other important plans for entrepreneurship development. Under 'Artisan Entrepreneurship,' it announced the operation of programs such as 'special grants, training, technical support, and market access' to transform traditional skills of the Dalit community, such as blacksmithing, leather industry, construction, and handicrafts, into modern commercial forms.

RSP's Promise: Concessional Loan for Those Going Abroad

The Rastriya Swatantra Party (RSP) has given importance to the economy in its manifesto. The manifesto it published sets a target of a $100 billion economy and a per capita income of $3,000 if it forms the government after winning the election. The party has an ambitious plan to achieve 7 percent economic growth and create 500,000 jobs. This party, which rose to prominence by heavily criticizing past governments for failing to create employment, has encouraged going abroad. On page 17, point number 80 of its election manifesto, it states, 'We will provide concessional loans through banks to family members of Dalit and oppressed communities who wish to go for foreign employment, based on the recommendation or guarantee of the local level.'

Furthermore, RSP mentioned in the same point that it has made separate arrangements for those returning after acquiring skills from abroad. 'We will encourage entrepreneurs who wish to operate production-oriented enterprises in the homeland after acquiring skills and experience from foreign employment through special subsidies on interest, technical support, and market access programs,' RSP stated. Moreover, this party has mentioned in its promise letter that it will provide concessional loans through banks based on local level recommendations to the targeted groups (Dalit and oppressed communities).

Congress Says: Loans Up to NPR 5 Million

The Nepali Congress, which has led the government multiple times previously, has published its pledge letter for good governance and prosperity. It mentions providing loans ranging from NPR 5 to NPR 5 million based on the project, without collateral, for young and women entrepreneurs with innovative ideas.

'We will provide loans ranging from NPR 5 to NPR 5 million based on the project without collateral for young and women entrepreneurs with innovative ideas,' Congress stated on page 35 of its election pledge letter published for February 21.

Furthermore, Congress has assured relief by providing up to 90 percent subsidy on agricultural insurance premiums and arranging for the amount to be deposited directly into the farmer's bank account after assessing damage through modern technology (drones/satellites).

Congress has pledged to provide relief to borrowers of microfinance and cooperatives through a special loan settlement package and to relieve the general public from the burden of taxes by adopting a policy of not imposing income tax on the first NPR 100,000 of personal income.

'We will implement a progressive system where the maximum rate of personal income tax does not exceed 25 percent, and we will impose an additional levy only on income exceeding NPR 10 million annually,' Congress stated. It also announced implementing a model of providing 'seed capital' loans ranging from NPR 5 to NPR 50 lakh based on the project's collateral for youth with concessional investment, new ideas, and projects, along with a model of 25 percent grant, 50 percent concessional loan, and 25 percent self-investment for young entrepreneurs.

Analysts Say: Do Not Sell Unfulfillable Dreams

According to Dr. Ramesh Poudel, former member of the National Planning Commission and economist, it is a global norm for parties to bring out manifestos or pledge letters during elections to seek votes. However, while promises made by parties and leaders are generally fulfilled in other countries, the situation is different in our country.

'It is a global norm for parties to bring out manifestos during elections. In other countries, voters evaluate whether the promises made were kept and decide in the next election,' said Dr. Poudel. 'But in our country, it is found that lying repeatedly has no value. Instead, a culture has developed where those who lie get promoted, and those who do not are left behind.' He stated that this developed system in Nepal is wrong and that an analysis should be made on how many promises from the previous manifesto were fulfilled and how many new ones were added.

Dr. Poudel analyzes that failing to fulfill promises leads to an increase in bad governance. 'The peak of bad governance is this: those who speak can say anything, and the evaluators do not vote based on what was said versus what was done,' he said. 'The process of bad governance is also carried out by the public.'

Poudel noted that while some parties brought up some mega-project plans in previous elections, the trend of bringing up a different agenda in every election has increased recently. 'One election raises one agenda, and in the next, they drop it and raise another,' Poudel said. 'Politics has become focused on sellable agendas.'

Poudel stated that the public's trust in parties is decreasing because progress reports on good plans like Melamchi Drinking Water, water transport, railways, and smart cities are not being made public. Dr. Poudel mentioned that using the excuse of not getting a majority to fulfill promises, even when they know it, is a betrayal of the voters to make promises that cannot or will not be kept.

'According to our system, the possibility of anyone getting a majority is low,' Poudel said. 'If they don't even get a majority in the House of Representatives, why sell such dreams?'