The Bhutanese Leading the way.
PM during the State of Nation unveiled governments key plans and priorities for the upcoming fiscal year, 2024-2025, with a focus on economic revival, infrastructure development, and tourism promotion.
He outlined a comprehensive strategy to revitalize the economy and drive sustainable growth.
Key measures include firstly, private sector support. Lifting the moratorium on loans through the Economic Stimulus Programme, facilitating low-interest loans, and implementing business-friendly policies to foster entrepreneurship and ease of doing business.
Secondly, for infrastructure enhancement, widening 11 national highways, constructing 7 new highways, and establishing dedicated monitoring teams to ensure timely completion and quality infrastructure.
Thirdly, for tourism development, improving policies, systems, and services, and focusing on identifying and tapping into new tourism markets to diversify the sector.
Fourthly, for ICT advancement, facilitating business opportunities for ICT companies, initiating the establishment of a third Internet gateway, and working towards reducing internet tariff charges.
Fifthly, for foreign direct investment, actively exploring and identifying diverse economic opportunities, reviewing and enhancing the Foreign Direct Investment Policy, and creating special investment opportunities for Bhutanese living abroad.
Sixthly, for hydropower expansion, commencing power transmission from the Punatsangchhu-2 Hydroelectric Project and resuming construction activities for the Punatsangchhu-1 Hydroelectric Project.
Also, the government will initiate construction on several other hydroelectric projects, including the Kholongchhu, Suchhu, Burgangchhu, Yungichhu, Druk Bindu-1, Druk Bindu-2, Gamri-1, Begana, and Jomori.
Further, 21st-century economic roadmap will be formalized to strengthen the economy, advance its growth, and ensure long-term development.
To enhance agriculture and livestock, low-interest agriculture and livestock loans will be provided to farmers.
Additionally, 20 gewog centre roads will be repaired and blacktopped to improve transport services, along with maintenance and repair of 200 chiwog roads.
A total of 56 irrigation projects, including 47 new ones will be initiated and chain-link fencing will be installed in about 200 chiwogs.
A new policy will be formulated to prioritize cereals, fruits, and livestock products for better market access and compensation and insurance for crop and livestock, while a low-interest loan program for power tillers will be introduced.
Foreign policy and relations will see a focus on strengthening ties with India through state visits and continued collaboration, while efforts to enhance relations with neighbouring countries and donor nations will also be pursued.
Preparations for the 13th Five Year Plan and improving public service delivery will involve civil service reforms, integrated service centers for timely and quality services, and orientation training for local governments.
Other important priorities for the financial year include policies for home ownership, rural life insurance, and allowances for mothers for the third child.
