Democratic sustainability: Election economics cannot be ignored
Summary
Nepal's multiparty democracy faces challenges with the high economic costs of elections that strain public finances and influence governance, calling for urgent reforms to ensure sustainable electoral processes.
Key Points
- Nepal's elections are significantly expensive, with the upcoming 2024 general election projected to cost approximately Rs 31 billion.
- Election expenditures, both public and private, divert essential resources from development and create strong incentives for corruption and rent-seeking.
- Frequent elections disrupt fiscal planning and increase national debt due to limited fiscal space and rising repayment obligations.
- Reforms suggested include strengthening cost-control, administrative efficiencies, political stability, voter responsibility, and constitutional changes to reduce election frequency and costs.
