Life can be uncertain, and for many families, a sudden tragedy can mean financial problems. That is where the Rural Life Insurance Scheme comes in, a modest payout to ease the burden of loss. The government has allocated an additional Nu 263 M for the insurance scheme. However, the assembly’s Economic and Finance Committee, in its review report of the budget, has recommended removing it due to a lack of justification and preparedness for the allocation.
While acknowledging the potential benefits of the scheme, the committee expressed concern over the absence of a detailed study on the beneficiaries, premium structure, and implementation modalities.
“There is no clear information on it. We have spoken with the Finance Ministry on multiple occasions, asking about the work they have done or will do. They have allocated a specific amount, and we asked them how they allocated it,” said Loday Tsheten, a member of NA’s Economic and Finance Committee.
The recommendation sparked a debate in the assembly, with some supporting the recommendation of the committee to remove the allocated budget.
Finance Minister Lekey Dorji said, “We will be working on this for the next six months. But if we remove the budget, we cannot do any work. If we want this scheme, we should not remove the budget.”
“Like the committee said, there is no clear structure or information about the insurance scheme, how it is going, how it will be provided to the people, and who is eligible for it,” said Dorji Wangmo, Kengkhar-Weringla MP, Monggar, NA.
“The government must have allocated a budget for the insurance scheme after research and with an objective, for the benefit of the people. So I would like to request not to remove the budget,” said Lhaba Lhaba, a Khatoed-Laya MP, Gasa, NA.
The house directed the finance ministry to conduct a comprehensive study within the next six months to assess the scheme’s structure and feasibility.
Deki Lhazom & Samten Dolkar
Edited by Tandin Phuntsho