KP Sharma Oli sworn in as the 41st Prime Minister of Nepal

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Oli's biggest challenge as prime minister will be balancing Nepal's relationship with its giant neighbors India and China, as well as managing lingering internal strife stemming from the country's new Constitution and transition from a monarchy.

Election Commission had submitted the final results of the federal and provincial assembly elections to President Bidya Devi Bhandari on Wednesday.

The left alliance has already presented its claim for the new government to President presenting UML Chairman KP Sharma Oli as the new PM.

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The subsection 2 of the same section in Nepali constitution also has the provision for the appointment of new Prime Minister in case any of the parties failed to garner a complete majority.

Born on February 22, 1952 at Terathum of Eastern Nepal district, Oli is the eldest child of Mohan Prasad and Madhumaya Oli.

In the parliamentary elections, the Deuba-led Nepali Congress (NC) stood third - behind the CPN-UML and the CPN (Maoist Centre) - in the historic parliamentary and provincial assembly polls by winning just 23 seats out of a total 165 seats under the first-past-the-post (FPTP) system.

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After registering a grand victory, the communist alliance parties have been in discussions over the announcement of the PM candidate. However, KP Oli inducted two other ministers in his newly formed cabinet from his own party the CPN-UML.

Nepal successfully held three-tier elections of local bodies, provinces and parliament in 2017 under the leadership of Deuba, giving high expectations that the country will usher in much-needed political stability and development.

Bhandari was elected as the first woman president of Nepal in October, 2015. Reports state that former health minister Girirajmani Pokharel submitted the resignation of all the ministers - 10 union and six ministers of state - from the Communist Party of Nepal (Maoist Centre) to Prime Minister Sher Bahadur Deuba.

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