Nepal faces 'budget holiday' from Wednesday midnight
KATHMANDU, Sept. 15 -- The country is in a financial deadlock after the government failed to get the substitution bill endorsed by parliament
The country is facing a 'budget holiday' from Wednesday mid-night with the government undergoing a logjam to spend money from the state coffers for being unable to get the ordinance budget endorsed by parliament within the deadline.
Bishnu Poudel, the then Finance Minister of the KP Oli-led government, announced the annual budget for 2021/22 on May 29 through an ordinance. According to the law, the government needs to endorse an ordinance from parliament within 60 days, which is ending on Wednesday.
Targeting to revise the ordinance budget, Finance Minister Janardan Sharma tabled a substitution b...
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