KATHMANDU: Prime Minister Narendra Modi on Friday voiced satisfaction over the current political stability in Nepal and assured India's full support in the landlocked country's march towards development.

Addressing a gathering after jointly inaugurating the Nepal-Bharat Maitri Pashupati Dharamshala - a rest house for pilgrims - along with Nepal Prime Minister KP Sharma Oli, Modi said, "every Indian is happy to see that there is political stability in Nepal."

The 400-bed rest house at the Pashupati Temple Area Complex has been built with Rs 14 crore of Indian assistance.

Modi said the rest house for pilgrims to the famed Pashupatinath Temple would be a symbol of strong people-to-people bond of both countries.

With Nepal enjoying political stability, the country is developing fast, he said.

"India's good wishes and support will always be with Nepal," Modi said.

Nepal's transition from monarchy to democracy has been marred by political instability. No government has completed a full term since the restoration of multi-party democracy in 1990.

The general elections held in November last year was billed as the final step in Nepal's transition to a federal democracy following a decade-long civil war till 2006 that claimed more than 16,000 lives.

Prime Minister Modi also pointed out that the Indian economy was developing at a quick pace.

"I must tell you that our Nepali brothers and sisters have equal stakes in it. When we talk about development, it is part of our traditions to think about neighbours' prosperity as well," the prime minister, who was in Nepal to attend the 4th BIMSTEC Summit, said.

Modi said Pashupatinath, Muktinath and Janakidham not only unite Nepal but they also give strength to the ties with India.

"There is a distance of thousands of kilometres between Kanyakumari in Tamil Nadu and Kathmandu but ballads of Pashupatinath have been echoing there (Kanyakumari) for past 1,500 years," he said.

The completion of Nepal-Bharat Maitri Pashupati Dharmashala is another milestone in strengthening cultural ties and people-to-people contacts between the two countries, the Ministry of External Affairs said in a statement.

