India and Nepal to review 1950 treaty: Menon

New Delhi, Sept 17 (ANI): Foreign Secretary Shivshankar Menon has said that India is ready to review its bilateral relations with Nepal and update the 1950 treaty signed with that neighbouring country.

"The Nepalese have been keen for many years that we look at the 1950 treaty and update it. We have said again for many years that we are ready to review it and update it. We are hopeful to do that between the Foreign Secretaries," Menon said last evening.

Meanwhile, Nepal Prime Minister Prachanda said that a joint taskforce would soon be formed by both countries to study the treaty so that it becomes consistent with present times and is in the interest of both.

He said that such understanding was reached during his talks with Prime Minister Dr. Manmohan Singh.

The Maoists led new Nepalese regime has pressed for replacing the existing one with a new as they say the present treaty has become redundant.

The 58-year-old treaty of peace and friendship was signed between the twoeighbours on July 31, 1950. The treaty underscored the bilateral relations between the two countries including strategic matters and free movement of people and goods.

Prachanda said both governments have discussed extending the east-west railway in the Terai districts of Nepal. He also urged Dr. Singh for additional investment in hydropower and in other areas in Nepal.

Prachanda is accompanied by a 44-member delegation on his five-day maiden visit to India after becoming Nepal's the Prime Minister.

His visit ends on September 18. (ANI)