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NC discusses the National Budget for Financial Year (FY) 2018-19

Posted on :16 January 2019

Today, during the ninth sitting of the National Council, the Hon’ble Minister for Finance introduced the National Budget for the Financial Year 2018-19 along with the Budget Appropriation Bill 2018-19.

The Hon’ble Minister reported that the approved budget for FY 2018-19 is estimated at Nu. 36,317.937m of which Nu. 29,075.167m is for current budget expenditure, Nu. 5,386.162m for capital budget expenditure and Nu. 1,842.168m for repayment of loans and Nu 14.440m for lending. 
 

The House also discussed on the need for a detailed report of budget allocation and further discussed on the issues related to limited time and issues related to execution of the developmental activities due to unfavorable and unforeseen weather conditions in the far flung remote gewogs.

In the afternoon, during the question time with the Hon’ble Minister for Economic Affairs, the following question was raised.
Recognizing the contravention of the Mineral and Mines Management Act (MMMA) 1995 with the provisions of the Constitution and growing income gap in the country, the House asked the Minister whether the Government would be able to table the MMMA 1995 for amendment in the coming summer session.

The Minister acknowledged the concerns of the House and responded that there is an immediate requirement to review and amend the MMMA 1995. He said that the government is ready to review and amend the act and will be able to table the bill in the coming summer session.

The Minister also responded to queries with regard to the status of the issuance of the license during the formulation of the bill and issues related to surface collection etc.
Based on the discussions and issues raised by the members, the Economic Affairs Committee presented the final recommendations for adoption and the House unanimously proposed three amendment and two general recommendations. The House also adopted and passed the Budget Appropriation Bill for the financial year 2018-19.

The local government leaders of Gasa and Wangduephodrang Dzongkhags also attended the session.

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