Cabinet meeting held in Singha Durbar this morning decided to bring in one-third budget as per Article 96 (A) of interim constitution of Nepal, Minister for Information and Communications Raj Kishor Yadav, also spokesperson for the government, told reporters after the meeting. [break]
The government shelved its aspirations for a full-fledged budget owing to immense pressure from the president and opposition parties, chiefly Nepali Congress and CPN-UML. They demanded that the budget should come as per Article 96 (A) of the constitution of Nepal.
Following the cabinet decision, Prime Minister Baburam Bhattarai, Finance Minister Barshaman Pun and Finance Secretary Krishna Hari Baskota met President Yadav at his residence in Shital Niwas urging him to endorse the budget.
On the occasion, President Yadav assured them that he would initiate legal procedure necessary to issue the budget, the PM´s legal adviser Lalit Bahadur Basnet told Republica Online.
Likewise, the meeting decided to provide Rs 4.32 billion to the Rastriya Banijya Bank to support its recapitalization plan. The meeting also decided to buy shares worth Rs 1.62 billion of the Nepal Bank Limited.
Related news:
The government shelved its aspirations for a full-fledged budget owing to immense pressure from the president and opposition parties, chiefly Nepali Congress and CPN-UML. They demanded that the budget should come as per Article 96 (A) of the constitution of Nepal.
Following the cabinet decision, Prime Minister Baburam Bhattarai, Finance Minister Barshaman Pun and Finance Secretary Krishna Hari Baskota met President Yadav at his residence in Shital Niwas urging him to endorse the budget.
On the occasion, President Yadav assured them that he would initiate legal procedure necessary to issue the budget, the PM´s legal adviser Lalit Bahadur Basnet told Republica Online.
Likewise, the meeting decided to provide Rs 4.32 billion to the Rastriya Banijya Bank to support its recapitalization plan. The meeting also decided to buy shares worth Rs 1.62 billion of the Nepal Bank Limited.
Related news:
Related story
What is missing in budget for agriculture?
