Saturday, June 7, 2025
  • Contact Us
  • About BBS
  • Privacy & Policy
ENG
DZO
BBSCL Logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
Radio Live
No Result
View All Result
BBSCL logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
No Result
View All Result
BBSCL logo
Radio LIVE

National Budget 2022-2023 to accelerate the economic recovery process

June 6, 2022
in Politics
Reading Time: 2 mins read
0
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

The Finance Minister presented the National Budget of about Nu 75bn for the financial year 2022-2023 to the National Assembly today. It is about Nu 3bn less than last year. According to the minister, the budget has been formulated to accelerate the economic recovery process through various strategies. This is expected to boost the economy which has slumped to an all-time low in 2020. 

The pandemic has forced the country’s economic growth to an all-time low of -10.1 per cent. However, the finance minister says it is set to rebound with the country slowly opening up. Presenting the national budget, Finance Minister Namgay Tshering says the economic growth will increase to 4.5 per cent by this year.

The finance ministry is proposing a recurrent budget of more than Nu 36bn. It is to be met from the domestic revenue.

“This year, our main focus is to cover recurrent expenditure through domestic revenue. Currently, our country relies on imported food and products so instead, we need to focus more on reducing dependency on imported products by consuming locally available products. Budget allocation for 2022 to 2023 would mainly be people-centric,” said Lyonpo.

More than Nu 38bn has been allocated as a capital budget. It will be funded through external grants and deficit financing through domestic borrowings and concessional external borrowings.

The Local government comprises the highest budget allocation with nearly 22 billion Ngultrum followed by the health and education sector. The Budget has been formulated with the main focus on accelerating economic recovery in the field of food self-sufficiency, human capital development, sustainable infrastructure development, and social security.

Meanwhile, the total revenue is estimated at nearly Nu 52bn which is a 13.8 per cent decrease from the previous fiscal year due to a decrease in grants and other receipts. However Domestic revenue has increased by 2.2 per cent compared to the previous year.

Along with the Budget report, the budget appropriation bill, and supplementary budget appropriation bill for the Fiscal year 2021 to 2022 are also submitted to the house today.

Kelzang Choden

Previous Post

‘Thimphu Thromde Waste App’ – tracking waste collection trucks

Next Post

District Hospital road in need of maintenance, Trongsa

Next Post
District Hospital road in need of maintenance, Trongsa

District Hospital road in need of maintenance, Trongsa

National Budget 2022-2023 to accelerate the economic recovery process

About Nu 8bn spent on COVID prevention and management

Supporting affected sectors through monetary measures to continue- Finance Minister

Supporting affected sectors through monetary measures to continue- Finance Minister

Please login to join discussion

RECOMMENDED NEWS

Bhutanese athletes leave for Paralympics 2020

Health Ministry still hopeful of implementing maternity allowance this year

4 years ago
9
Thimphu Police investigates three separate burglary cases

Thimphu Police investigates three separate burglary cases

1 year ago
9
Portable Smart Eye Camera aids early diagnosis of eye diseases

Portable Smart Eye Camera aids early diagnosis of eye diseases

4 months ago
1.2k

Housing crunch and fronting plague Phuentsholing town

12 years ago
10

BROWSE BY CATEGORIES

  • Accidents (14)
  • Agriculture (426)
  • Announcement (174)
  • Audience Survey Report (1)
  • Business (744)
  • Crime/Legal (367)
  • Culture (47)
  • Development (51)
  • Disaster (57)
  • Economy (278)
  • Education (413)
  • Entertainment (13)
  • Environment (61)
  • Feature (65)
  • Featured (6)
  • Festival (78)
  • GMC (14)
  • Headlines (9)
  • Health (622)
  • Legal (52)
  • Literature (9)
  • Livestock (75)
  • Media (25)
  • Other Stories (5,574)
  • Politics (419)
  • RCSC (1)
  • Recent stories (5)
  • Religion (45)
  • Sci/Tech (709)
  • Social (516)
  • Sports (449)
  • Technology (190)
  • Tourism (19)
  • Uncategorized (13,866)
  • Video (136)
  • Video Story (249)
  • Wildlife (42)

BROWSE BY TOPICS

Tender Announcement Vacancy Announcement

POPULAR NEWS

  • BPC’s investigation rules out transformer short circuit as Damchhu forest fire cause

    Viral video of Bhutanese man assaulted by locals and police in Jaigaon sparks safety concerns

    0 shares
    Share 0 Tweet 0
  • Gelephu Mindfulness City opens recruitment drive for Bhutanese professionals

    0 shares
    Share 0 Tweet 0
  • Newspaper accuses DPT candidate of political ploy

    0 shares
    Share 0 Tweet 0
  • A centenarian’s recipe to longevity

    0 shares
    Share 0 Tweet 0
  • 40 companies risk closure over failure to submit financial reports

    0 shares
    Share 0 Tweet 0
BBSCL

Bhutan Broadcasting Service (BBS) is Bhutan’s primary national broadcaster, delivering diverse news and entertainment in multiple languages, fostering cultural understanding and public knowledge.

Follow us on social media:

Recent News

  • Phuentshogling Thromde installs reverse vending machine to promote recycling
  • Fixed deposit interest to be taxed at 10% under proposed Income Tax Bill
  • Yonphula Specialised Rehabilitation School to open next month
  • RMA to roll out seven new measures for loan repayment support
  • National Housing Strategy to be ready by September

News Category

  • Accidents
  • Agriculture
  • Announcement
  • Audience Survey Report
  • Business
  • Crime/Legal
  • Culture
  • Development
  • Disaster
  • Economy
  • Education
  • Entertainment
  • Environment
  • Feature
  • Featured
  • Festival
  • GMC
  • Headlines
  • Health
  • Legal
  • Literature
  • Livestock
  • Media
  • Other Stories
  • Politics
  • RCSC
  • Recent stories
  • Religion
  • Sci/Tech
  • Social
  • Sports
  • Technology
  • Tourism
  • Uncategorized
  • Video
  • Video Story
  • Wildlife
  • Contact Us
  • About BBS
  • Privacy & Policy

© 2024 BBSCL. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule

© 2024 BBSCL. All rights reserved.