The government will establish two new funds- Endowment Fund for Crop and Livestock Conservation and the Stabilisation Fund- in the 2017-2018 financial year, announced the Finance Minister in the National Assembly today while presenting the National Budget Report.
Lyonpo Namgay Dorji said an Endowment Fund for Crop and Livestock is being established to compensate the farmers for crop and livestock as damaged by natural calamities, while the Stabilisation Fund is being started to maintain macro-economic stability.
Lyonpo also revealed that the caretakers of Lhakhangs under Zhung Dratshang will be paid salary by the government. This is to recognise the important role the caretakers play in the running and conserving lhakhangs.
The government will also increase the rural life insurance payout from Nu 15,000 to 30,000. Also, the management of the scheme will be transferred to the Royal Insurance Corporation of Bhutan (RICBL) for sustainability purpose.
The 2017-2018 financial year will also see the construction of the National Council building and the Sarpang Dzong.
