Bhutan receives Nu 1.5B from India

Gross National Happiness Commission (GNHC) officials received 10 checks  amounting to Nu 1.5B from Government of India on November 13 for works completed during the 10th Five Year Plan. This leaves another Nu 1.5B to be received from the Indian government under the 10th plan. Since the money for the Five Year Plans did not arrive on time, the government usually pre-financed projects by borrowing money from the local market, or through other arrangements. But according to officials, once the money is received from India, it is adjusted. The money was used mainly to finance capital expenditure like building public structures such as bridges and roads. Bhutan also received Nu 425m as program grant assistance under 11th FYP. The Government of India has committed Nu 45B to for the 11th FYP and Nu 5B for the Economic Stimulus Plan. This year, Bhutan has already received more than Rs 3B from India for 10th Plan commitments, for program grants under the 11th Plan and for the economic stimulus plan.

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