For the fiscal year, the Assembly approved current budget for the whole year; while capital budget has been agreed for up to six months.
The decision was made after the Finance Committee presented the review report on Interim Budget for financial year 2018-19. The issue of setting unique precedence in preparing budget by the sitting government for the financial year under the next government was debated. The Committee supported the Finance Ministry’s Interim Budget proposal for the smooth running of the government institutions and continue the implementation of the ongoing developmental activities.
However, the opposition said the Interim Budget should be for less than six months. “Would it not be better if the duration for the budget of critical regular activities be kept at either three or six months?,” asked Kengkhar-Weringla MP, Rinzin Jamtsho. “As during the sub-committee meeting, it was discussed that the duration be kept at 3 or 6 months but the final interim budget says one year, this is the problem.” he said.
The opposition leader, Dr. Pema Gyamtsho said “If we approve the interim budget for 2018-19, then the new government may not consider it for deliberation stating that the budget has already been discussed in the previous government’s tenure.” he further added, “Moreover, whoever will be the new government, they will follow as per their manifesto and vision. They may continue with some and they may take out some from the interim budget, the power to extend or reduce the budget duration is up to them. Therefore, we support for six months, we cannot support for one year.” the opposition leader said.
After intense deliberations, the finance minister put forward a solution for the periodicity of the interim budget.”In order to come to a mutual consensus, we would like to suggest that we keep it for six months. But I would suggest that we keep the duration of the interim budget for current expenditure as one year as per the Constitution.” said Lyonpo Namgay Dorji, “If, somehow, the budget does not get approved in the National Assembly now, as per the Article 14, section 9, the budget for the current expenses would have to be met from previous year’s budget.” said the Minister.
Meanwhile, the National Assembly also approved the supplementary budget of over 700M ngultrum. The House will vote on the Interim Budget and Supplementary appropriation 2017-18 tomorrow for adoption.
