Deliberation on 2023 - 24 Annual Budget concludes at NA today-DZ
The House today continued the deliberation on the Economic and Finance Committee’s Review Report on the National Budget for Financial Year 2023-24. During the deliberation, the House recommended mandatory review of four State Owned Enterprises while requiring the review for other SOE to explore management by private enterprise as well as to reduce deficit financing. The four State Owned Enterprises are:
1. Bhutan Livestock Development Corporation Limited
2. Farm Machinery Corporation Limited
3. Food Corporation of Bhutan Limited
4. Kuensel Corporation Limited
The House also saw issues raised on the need to have easy access to loan, possibility of increasing the consumer loan limit and incentives for mass tourism among many others.
After an extensive deliberation, the Committee’s three recommendations were endorsed by show of hands. The House further directed the government to submit the follow up report on the recommendations within a month to the National Assembly, which will be circulated to the Members of the Parliament.
The House unanimously endorsed the Supplementary Budget Appropriation Bill 2022-2023 amounting to Supplementary appropriation of Nu.2,317.377 million and the revised budget after supplementary appropriation amounting to Nu.84,144.688 million. The House also endorsed by show of hand the Budget Appropriation Bill for the Financial Year 2023-2024 amounting to Nu.85,522.536 million.
The Budget Appropriation Bill for the Financial Year 2023-2024 and Supplementary Budget Appropriation Bill 2022-2023 will be put to vote tomorrow for formal endorsement in keeping with the legislative rule of procedure.
