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Tuesday, 16 July 2024

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Presentation of the 13th Five-Year Plan by the Hon’ble Finance Minister and deliberation on Satong and Guntong

Presentation of the 13th Five-Year Plan by the Hon’ble Finance Minister and deliberation on Satong and Guntong

Earlier today, the Finance Minister, His Excellency Lyonpo Lekey Dorji presented the 13th Five Year Plan (FYP) to the House, highlighting that the detailed plan was developed after extensive consultations with relevant stakeholders.

The 13th Five Year Plan aims to transform Bhutan into a high-income country with a GDP of USD 5 billion through innovation and sustainability by 2029. It plans to ensure a healthy, productive society with fair access to quality healthcare, education, and social protection. The plan also focuses on strengthening the country’s sovereignty, security, unity, and economic prosperity, and establish a trusted governance ecosystem that promotes economic growth and enhances people’s lives.

Additionally, Hon’ble Finance Minister shared that the estimated resource allocation of Nu. 456 billion is against a projected expenditure of Nu. 512 billion for the 13th FYP. The total grant for the next five years is estimated at Nu. 125 billion. A major portion of the external grant is the Nu. 85 billion from the Indian government, and the remaining are contributions from the European Union (EU), Japan, UN agencies and other development partners.

Furthermore, Nu. 72 billion has been allocated to Local Governments to ensure fair and effective distribution of resources for local development needs.

Following the presentation, members inquired about the plans to address economic challenges, achieve balanced development, and leverage digital technology.

In the afternoon, the House resumed its deliberation on the Good Governance Committee (GGC)’s review report on Satong and Guntong, presented yesterday, June 13, 2024.

The House deliberated extensively on the 10 recommendations proposed by the GGC. In view of the few additional submissions from the members, the House assigned the GGC to revisit some of the recommendations. The House will adopt the report including the final recommendations on July 2, 2024.

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