The Ambassador of India to Bhutan, V.P Haran, handed over a cheque worth Rs. 1 billion to the Prime Minister, Tshering Tobgay, yesterday. The amount is part of Indian’s government commitment towards the People’s Democratic Party’s Nu. 5 billion Economic Stimulus Plan (ESP).
A press release from the Gross National Happiness Commission says as sustainable credit flows constitute the lifeline of an economy, the ESP is extremely important to enhance the economic livelihoods and living standards, particularly of low income groups, and thereby contribute to the achievement of “prosperity for all”.
It also says through the ESP and injection of funds, the government seeks to ease the current financial crunch in the banking sector as well as expand the financial sector’s capacity to extend credit for productive economic activities.
Of the total commitment of Rs. 5 billion, Nu.4 billion will be injected into the financial sector and Nu.1 billion will be used for special support scheme.
