Bills Re-deliberated
The House today held deliberations on the recommendations made by the National Council on the following two budget bills, namely:
1. Annual Budget Appropriation Bill for FY 2023-24; and
2. Supplementary Budget Appropriation Bill for FY 2022-2023.
Since there were no recommendations on any party of the bills, there wasn’t a need to re-deliberate on both. However, the National Council made two general recommendations pertaining to the budget bills on Inflation and Foreign Reserve Position.
The House after some deliberations endorsed both the recommendations into resolutions that the government to:
1. Direct the National Statistical Bureau to reexamine the method of calculating inflation to correct any anomalies and ensure that the calculation reflects the economic reality in Bhutan rather than just following international methods that may not apply to Bhutan; and
2. work closely with the Royal Monetary Authority to avert possible violation of the Constitution and any other economic risks arising from the rapid depletion of the foreign reserves.
In total, the House recommended five resolutions to the government, the other three being on the need to review the non performing State Owned Enterprise, development of the tourism industry and easy access to credit (loan).
