Elusive consensus makes budget uncertain

A prolonged power tussle between opposition and government has made the fate of full-fledged budget still uncertain.

The sacred-word 'consensus' that has been eluding caretaker government led by UCPN-Maoist chief ideologue Dr Baburam Bhattarai and opposition might make people hit due to lack of full-fledged budget.

"In absence of Parliament — that could check and balance government anarchy — the President alone cannot approve the budget brought by a caretaker government," said former finance minister Dr Prakash Chandra Lohani.

"The budget is not only an economic document but also a political vision of a ruling party," he said, adding that a budget is, normally, approved by the President only after Parliament passes it.

However, in the absence of Parliament, consensus among the political parties can only make the passage for the full-fledged budget, he said, after meeting with the President Dr Ram Baran Yadav, who is under pressure by the opposition parties not to approve full-flegded budget brought by the care taker government.

The caretaker government had brought a special budget of Rs 161.24 billion for the four months — as an interim public expenditure arrangement — in mid-July through the ordinance due to absence of Parliament.

As the four months is coming to an end by mid-November, the President is under tremendous pressure. On one hand the ruling party leaders are challenging to bring a full-fledged budget and on the other, the opposition is pressuring not to approve it.

The President — as the custodian of the Constitution — cannot approve any document that a caretaker government brings," he said, adding that the President will make his move according to the Constitution.

The Constitution states that the government will rule in consensus in an absence of Parliament, Lohani said, adding that the government alone cannot bring full-fledged budget without consensus.

Likewise, the private sector is also exerting pressure to bring a full-fledged budget on consensus as soon as possible.

"A full-fledged budget has to come as a consensus economic policy document," said Federation of Nepalese Chambers of Commerce and Industry (FNCCI) president Suraj Vaidya.

The government is the largest producer, consumer and investor, and the budget is the lifeline of economy, he said, adding that lack of budget will hit the confidence of investors, both domestic and foreign.

Urging the political parties to forge consensus as soon as possible to bring the full-fledged budget to save the country from being a failed state, the private sector chieftain added.

Likewise, economists have also been divided on full-fledged budget. Some claim it is unconstitutional, while others want a package deal along with political consensus, leaving a few who support a full-fledged budget 'but with pre-conditions' from the President.