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The House continues deliberation on the Budget Report by the Economic and Finance Committee

Posted on :14 January 2019

The House resumed discussion on the Report by the Economic and Finance Committee. Deliberating on the Third Recommendation made by the committee which proposed that the government formulate a thumb rule for appropriation to Annual General Reserve and submit it in the second Session, the House with show of hands unanimously endorsed the Committee’s recommendation. The need for clarity in budget appropriation from the General Reserves was the underlying reason for the proposal since there was no clarity on the proportion of the national budget maintained as General Reserves annually. The Members also submitted that expenditure statements should also clearly account the utilization of the allocation under General Reserves.

 

The Fourth recommendation of the Committee was to allocate the disaster management fund directly under the Department of the Disaster Management and some amount to 20 Dzongkhags instead of keeping with the Ministry of Finance considering the convenience and to enable quicker responses to disasters situations. However, majority of the Members expressed the importance of retaining the fund with the Ministry of Finance only while a clear procedure for request and release of the fund in the times of disaster could be drawn up by the government. The House decided to retain the fund with the Ministry of Finance as in the past.

 

The Committee’s last recommendation was for the House to endorse the budget of Nu.47,698.129 million for the FY 2018-19 which included current budget of Nu.29.075.167 and Nu.18, 622.962 as the capital budget. The House unanimously endorsed the budget for the FY 2018-19 through show of hands, thus, concluding the deliberation for the day.

 

In accordance with House Rules of Procedure, the Members will vote tomorrow to approve the budget for FY 2018-19.

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