New government proposes Nu 23 b budget (City)

Thimphu, June 24: The Finance Minister Wangdi Norbu tabled the annual budget for the new fiscal year 2008-09 at the National Assembly on Monday.

The first budget of the elected government has been estimated at Nu 23,072 million – Nu 11,500 million as current expenditure and Nu 11,571 million as capital expenditure.

The government has substantially increased the budget estimates for the new fiscal year to meet the development assurances given to people during the elections early this year.

Primary focus of the budget has been given for service sectors including health and education, where Norbu proposed 24 percent of the total outlay. About 25 percent, Nu 5,500 million, has been allocated for development projects in districts and blocks level.

Speaking at the assembly Norbu said clear picture of the projects has been given on those where government has ably secured funding from donor countries.

The budget is also the first of the 10th five year plan and, as minister said, covers the spills over from 9th plan as well.

The minister also informed the assembly that no estimates have been included from Nu 100 billion GOI grants since it has not been finalized.

Speaking on the occasion, leader of opposition party in the parliament Tshering Tobgey said the assembly cannot approve the finance bill without first finalizing the 10th five year plan.

The discussion over the budget has begun and has continued today as well. Bhutan News Service