Diabetes is a progressive disease that can cause blindness, heart disease, stroke, kidney failure, and death if not managed properly. It not only kills its victims but also causes avoidable pain and suffering to their family members and a huge loss to the national economy.
According to the World Health Organisation (WHO), currently 347 million people have diabetes in the world. Of them, 80 percent live in low-and middle-income countries. In 2011, 4.6 million people died of diabetes-related complications, which constituted 2.17 percent of the total deaths. By 2030, diabetes could, WHO estimates, be the seventh leading cause of death.
Even if domestic revenue is inadequate, the government needs to pay for recurrent expenses, including salaries to its employees, at any cost. Also, the peoples’ demands for development cannot be ignored even at the time of revenue crunch, which means that the government is always in need of cash. In such times, the government normally goes for the option of raising funds through domestic and international borrowing. In short term, such loans work as a source of deficit financing, but if the borrowed fund cannot be utilized properly, the country might enter a debt trap.
Fortunately, our government has been able to pay at least the recurrent expenditure from its domestic revenue. A small portion of development expenditure is also financed domestically, in the form of matching funds on foreign aid-funded projects. Debt is limited to 5 percent of GDP, and cumulative debt is below one third of GDP. Nepal has a good image in the international community in terms of repayment of principal and interest on foreign loans. Also, donors have converted many debts into grants.
Economic development, freedom and ability to pursue one’s interests are important features of individualism. Although Nepal is considered one of the most liberalized countries in South Asia, Nepali society is highly collectivist in nature. A significant proportion of individuals in Nepal do not have confidence to accept personal responsibility for their successes and failures. They subordinate their interests and actions to the group’s interests and actions. They try to get rid of unnecessary challenges and wish to live placidly. Nepali society is in dire need of transformation from a collective mode of thinking to an individualistic one.
Until now, Nepali politicians have exploited Nepali individuals’ collective priorities. Collectivism in Nepal has helped change the political regime, but has not helped Nepal gain a strong stance in diplomatic affairs and socio-economic matters.
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