I am a journalist based in Nepal as correspondent for the German Press Agency-dpa. Stories posted here are property of dpa.

Friday, July 15, 2011

Nepal government presents annual budget amidst chaos in parliament

Kathmandu - Nepal's government presented a 385 billion rupee (423 billion dollar) annual budget Friday, amidst criticism from other parties in the parliament.
Finance Minster Bharat Mohan Adhikari read out the annual budget, interrupted by lawmakers who complained that the budget had already been released online before being presented to government.
The main opposition Nepali Congress party said the government had no right to remain in office as the sensitive document had already been released to the media and demanded resignation of the Prime Minister and the Finance Minister.
The budget for the fiscal year 2010-11 had been scheduled to be presented on Thursday but was postponed for 24 hours, after the Madhesi Morcha, a bloc of opposition parties, obstructed proceedings.
The budget for the new fiscal year, must be debated and approved by parliament before it comes into effect.
Nepal has a history of delays in the budget announcement, which have adverse impact on the economy and development work in the already impoverished nation.

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