About Nu 56 billion has been allocated for the 2017-2018 financial year (FY). This is an increase of 19 percent from the previous financial year budget and the highest in the last four years.
Of the total resources estimated for the upcoming financial year, the domestic revenue constitutes nearly Nu 35 billion, while Nu about 17 billion is to be sourced through external grants.
Presenting the National Budget Report in the National Assembly, Lyonpo said the 2017-2018 FY marks the final year of the 11th Five Year Plan. Therefore, the budget has been formulated to complete all ongoing activities.
Major activities include double-laning of Northern East-West highway, Gylapoizhing-Nganglam road, blacktopping of 42 gewog connectivity (GC) roads, construction of hospitals in Gelegphu, Tsirang and Haa, and the establishment of three new central schools.
Other activities that are to be completed in the 2017-2018 FY are the renovation of Trashigang and Gasa Dzongs and completion of the construction of Pema Gatshel Dzong. Also, all domestic airports are to be made functional and the construction of the integrated livestock farm in Samrang is to be completed.
This time, economic and public services sector will receive the highest of over Nu 20 billion followed by the social service sector with nearly Nu 16 billion.
Budget allocation for energy is the least with only one percent of the total projection allocated for the sector.
The National Budget Report has been submitted to the finance committee of the National Assembly.
