The Ministry of Finance released Nepal's budget on Friday for the fiscal year 2011/12. Finance Minister Bharat Mohan Adhikari presented a Rs 385 billion budget with emphasis on encouraging foreign investment in hydropower sector and creating infrastructure after the coalition government gave a written commitment to address the concerns of the Madhesi parties.
The government postponed the presentation of the budget the day before after the United Democratic Madhesi Front, threatened to obstruct the process in Parliament, claiming that the ruling coalition had failed to serve the interest of the Madhesi community living in the Terai-plains.
However, on Friday, the government signed a four-point agreement with the UDMF after which the budget was released by Deputy Prime Minister and Minister for Finance Bharat Mohan Adhikari.
The budget was leaked before it was announced which garnered huge criticism in the legislative parliament. Demands for strong action including resignation of the finance minister, were also made in the Legislature Parliament.This was the first time that the budget was leaked even before it was announced.
The budget has given high priority to the peace process and constitution writing.
