GoI releases Nu. 500.467 million for project tied assistance project
The Government of India released Nu. 500.467 million for the project tied assistance project in the capital on the 3rd of October 2016. The Secretary of the Gross National Happiness Commission, Thinley Namgyel received the cheque from the head of chancery of the Indian Embassy in Bhutan Neetu M. Bhagotia.
The release of fund of worth Nu. 500.467 million is for Gewog connectivity roads blacktopping.
The GNHC secretary thanked GOI for the timely release of funds. He informed that the Bhutan- India development cooperation projects were at advance stage of implementation and efforts were being made to complete most projects as scheduled and requested if remaining release of funds could be processed at an early date.
Government of India has committed Nu. 45,000 million in the 11th FYP to Royal Government of Bhutan. The detail break- up of the commitment are: Nu. 28,000 million for Project Tied Assistance ( PTA), Nu. 8,500 million for Program Grant ( PG) and Nu. 8,500 million for Small Development Projects ( SDP). As on date, Government of India has released Nu. 15,206.9 million for GoI PTA projects, Nu. 5,525 million for Program Grant and Nu. 5,092.451 million for SDP to RGoB. In total, GoI has released Nu. 25,824.36 million to RGoB which is 57.4% of total committed allocation in the 11th Five Year Plan Period.