Bhutan hails India's financial assistance as it passes budget

THIMPU: Bhutan called India as 'the principal development partner', as the country's Parliament passed its annual budget for the year 2013-14 and supplementary budget bill for 2012-13.

The National Assembly passed the bills after two days of deliberations.

In his opening address at the session, Speaker Jigme Zangpo said India has been the principal development partner ever since Bhutan embarked on its first Five Year Plan.

"Even today, despite the unfavourable economic conditions in India, it has committed Rs 45 billion for successful implementation of the 11th plan, Rs 5 billion for the economic stimulus plan, and Rs 4 billion for the balance plans and programmes," he informed the House.

The National Budget for the financial year 2013-2014 amounts to Nu. 39,528.156 million. Out of the total, the capital expenditure amounts to Nu. 20,368.042 million while the current expenditure amounts to Nu. 19,160.114 million.

The Supplementary Budget Appropriation Bill for the Financially Year 2012-2013 amounts to Nu. 5737.0262 million. The revised total budget after the supplementary appropriation amounts to Nu. 43,781.222 million.

Last month, India announced an aid of Rs 5,000 crore, including a special package of Rs 500 crore, for Bhutan as part of commitment to its continued socio-economic development.