Nepal parliament approves budget, financial crisis averted

Nepal`s parliament on Tuesday passed the country`s budget after the Maoists allowed the House to function in a bid to avert a financial crisis in the country.

Kathmandu: Nepal`s parliament on Tuesday
passed the country`s budget after the Maoists allowed the
House to function in a bid to avert a financial crisis in the
country.

The CPN-Maoist lifted their blockade of the Parliament
to allow the passage of the country`s budget last week, but
threatened they would intensify their agitation after its
endorsement.

The budget for the fiscal year 2009-10 was passed
unanimously in the the 601-Constituent Assembly, which
functions as the Parliament, The Himalayan Times online said.

Even though the Maoists suspended the blockade of
Parliament for three-days, only two lawmakers from
UCPN-Maoists attended the House.

Nepalese lawmakers yesterday took up an emergency
consideration of the budget, which has been hanging due to the
UCPN-Maoists not allowing the House to transact business.

The House is conducting business after a five-month
long disruption by the Maoists who are demanding restoration
of "civilian supremacy" and to rectification of the President
Ram Baran Yadav`s move to reinstate former army chief.

The government was facing financial crisis as the
budget could not be endorsed due to the Maoists` disruption.

PTI

Zee News App: Read latest news of India and world, bollywood news, business updates, cricket scores, etc. Download the Zee news app now to keep up with daily breaking news and live news event coverage.