The opposition parties have been slamming the caretaker government and demanding Bhattarai's resignation before fresh elections were held.
The issue of a new budget has also become a point of contention with the Nepali Congress and CPN-UML leaders saying that the incumbent government has no authority to bring it.
Bhattarai called on the President at the Rastrapati Bhawan today to discuss the current political situation and the ongoing deadlock.
During the meeting, the prime minister assured the president that he would forge consensus among political parties before unveiling the new budget, according to Rajendra Dahal, press advisor to the president.
The latest political developments, constitution drafting, election and the new budget were the issues that figured in the meeting, he said.
The president has expressed concern over the delay in forging consensus among the political parties to end the current political stalemate, he said.
The caretaker government would face fund crunch if the new budget could not be brought by mid-November.
The president urged the Prime Minister to end the ongoing political deadlock through forging consensus, Dahal said.
"President Yadav urged to bring full budget only by forging political consensus as there was no alternative to consensus to end political turmoil," the Prime Minister told reporters coming out of the Rastrapati Bhawan.
The president will hold discussion with senior leaders of the major political parties tomorrow, according to the sources at the president's office.
With major political parties yet to find common ground for formation of a national government and the new budget, the president has initiated a dialogue with stakeholders to tackle the issue.
Meanwhile, a meeting of top leaders of UCPN (Maoist), Nepali Congress (NC), CPN UML and United Democratic Madhesi Front (UDMF) ended inconclusively today though they decided to continue talks tomorrow as well.
The meeting was held with a view to resolve differences among the ruling and opposition parties on new elections and budget, formation of national government, among other issues.
Maoist Chairman Prachanda, UML Chairman Jhalanath Khanal, senior leader Madhav Nepal, NC Vice-president Ram Chandra Paudel and Deputy Prime Minister and coordinator of UDMF Bijay Kumar Gachchhadar attended the meeting.
Kathmandu: With the Nepali opposition up in arms against the Baburam Bhattarai government, President Ram Baran Yadav on Thursday asked the Prime Minister to take all parties in confidence before unveiling the new budget.
First Published: Thursday, November 01, 2012, 22:10