The Finance Minister presented the National Budget for the FY 2021-22 along with the budget expenditure of the previous fiscal year today. The budget for the Financial Year 2021-22, is  formulated with the theme to ensure “Sustained Economic Stability for a Resilient Recovery” and  that the Government pursues an expansionary fiscal stance with the overall objective to:

1. Maintain Public Confidence
2. Sustain Economic Activities
3. Transform Health and Education System
4. Leverage on ICT and Innovation, and
5. Enable Reform Initiatives.

The Minister informed that the FY 2021-22 budget is a milestone as it captures the essence of the Royal Kasho for Civil Service and Education Reforms and provides budget to embark on the reform initiatives.

The Budget Appropriation Bill for the Financial Year 2021-22 is tabled for a sum not exceeding Nu. 80,483.150 million which includes the current expenditure of Nu. 35,598.664 million, Nu. 38,320.671 million capital expenditure, Nu. 5,654.415 million for repayment, and Nu. 909.400 million for on-lending.

The Supplementary Appropriation Bill for the Financial Year 2020-21 amounting to Nu. 2,783.703 million was also tabled. 

During the  FY 2021-22, the domestic revenue is estimated to grow by 7% from a drop of -8% in the previous FY. Domestic revenue is estimated at Nu. 35,600 million of which 64% is tax revenue and 36% is non-tax revenue. The positive revenue projection is based on the expected increase in tax revenues mainly attributed to improved direct tax performance and the indirect taxes such as sales tax, domestic excise duty, and green tax are also expected to grow proportionately.

The House referred the Bills to the Economics and Finance Committee for further deliberation. The Committee is scheduled to report back its finding and recommendation to the House on 8th June 2021.

For a detailed budget report please click below…

For English report: 

https://www.mof.gov.bt/wp-content/uploads/2021/05/BUDGET-REPORT-FY-2021-22_ENGLISH.pdf

For Dzongkha report:

https://www.mof.gov.bt/wp-content/uploads/2021/05/BUDGET-REPORT-FY-2021-22_DZONGKHA.pdf

The budget for the Financial Year 2021-22, is  formulated with the theme to ensure “Sustained Economic Stability for a Resilient Recovery”

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