The Socio-economic Development of Nepal: Struggle with Political Instability, How Political Instability is Compromising Nepals Future

ABSTRACT

Since the establishment of democracy in 1951, Nepal has confronted with ongoing political instability, hindering its progress towards achieving socioeconomic development and prosperity. This study delves into the intricate relation between political instability and socio-economic development in Nepal, examining the barriers that obstruct advancement and well-being. Through a comprehensive literature review and an analysis of major economic development indicators, the study explores the impact of political instability on economic progress and its repercussions on Nepals socio-economic situation. Despite limited empirical data and quantitative studies specific to Nepal, insights are drawn from previous study and secondary sources to elucidate the societal consequences of political instability. Highlighting prevailing challenges and research gaps, the study underscores the pressing need to address political instability in Nepal to foster sustainable socio-economic advancement. The evidence reveals the existence of political instability in Nepal and its impact on socioeconomic development, such as sluggish economic growth, prolonged status as a least developed country, constrained foreign direct investment, weak governance, and heightened economic dependence.

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