This is perhaps one of the rarest events in history of human civilization in which a ruling King found himself in such a miserable condition. It has happened today for Nepalese King Gyanendra. In the last fiscal year, the budget for the royal palace was $10.5 million while for coming fiscal year (starting at this weekend) the budget is going to be just $3.1 million. The King has already lost his absolute power after pro democracy movement forced him to reinstate the Parliament in Nepal. In the last few years, King Gyanendra directly ruled Nepal with the support of the army and he increased the budget for the royal palace many folds. While the mass people suffered from economic miseries, the members of the royal family maintained a luxurious lifestyle and one of their most favorite hobbies was to travel foreign countries frequently at the expense of the taxpayers' money. So, except the King and his relatives, very few people would be unhappy in Nepal over the fact that the King has become poor by 70% in a day.
Nepalese government would surely be able to use this additional $7.4 million in a much better way. The country needs massive support from foreign donors too. Finance Minister Ram Sharan Mahat submitted a budget of US$ 1.95 billion for the fiscal year 2006-07 in the Parliament. The main goal of this budget is to ensure peace and stability in Nepal something which the country and its people need desperately. I would surely like to see that some good amount of money goes to the education sector.
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