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Minister for Finance presents Annual Budget Report for the financial year 2016-17

Posted on :01 June 2016

As per Article 14 (8) of the Constitution, the Minister for Finance presented the Annual Budget for the financial year 2016-17,  revised budget of   the previous fiscal year 2015-16, Fiscal performance of 2014-15, and tabled revised taxes and levies bill of Bhutan 2016..    

The Finance Minister informed the house that the fiscal year 2014-15 ended with a fiscal surplus of Nu. 1,896.795 million and as a result, the recurrent expenditure was fully financed by the domestic revenue as mandated by the Constitution and the fiscal policy of the Government.

 The Minister  reported that the total budget outlay for the financial year 2016-17 is Nu.54828.228 million including both lending and repayment of which current expenditure is  46.3% and the capital expenditure is 53.7%. It was highlighted that this year’s budget has new initiatives like Dzongkhag Development Grant (DDG), Dzongkhag HRD budget, and decentralization of budget for centrally executed activities to dzongkhags.  

The annual budget report has been referred to Finance Committee for review and will be presented in the house on 9th and 10th June 2016 for deliberation.

 

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