UML Chief Whip Bhim Acharya informed that it was deferred upon request by the UCPN (Maoist). "We have decided to defer the plan to present the economic survey and the bill to bring under special circumstances for three days upon Maoist request," he said. [break]
Speaker Subas Nembang deferred the meeting for July 11 at the parliament, which opened Monday for the budget session. Speaker Nembang read out a letter received from President Dr Ram Baran Yadav at the start of the budget session.
The leaders from the three major political parties -- UCPN (Maoist), Nepali Congress (NC) and CPN-UML -- had earlier reached an understanding to present a finance bill as per the special provision as the prime minister has already resigned and a new government has not been formed so far.
“If there arises a special circumstance where an estimate of revenues and expenditures for the forthcoming financial year cannot be laid before the Legislature-Parliament by the end of the current financial year, revenues may be collected in accordance with the Financial Act of the current year,” states the special provision.
The Special Provision (96A) was inserted by the Fifth Amendment to the Interim Constitution in 2006 when the then NC-led government continued in office even after the Maoist party won most of the seats in the CA election.
In such a situation the finance minister may, setting out the reasons, present before the parliament a bill authorizing the incurring of expenditures in the forthcoming financial year, not exceeding one-third of the total expenditure of the current financial year.
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