GoI releases Nu. 1 billion
The Government of India releases Nu. 1 B for Project Tied Assistance projects ( PTA) and Small Development Projects ( SDP) in Bhutan on 18th November 2016.
The Deputy Chief of Mission of the Embassy of India in Bhutan Esha Srivastava, handed over five cheques worth Nu.1,004.850 million to Mr. Thinley Namgyel the Secretary with the Gross National Happiness Commission for GoI funded Project Tied Assistance projects and the final installment for 2nd batch of SDP.
The four cheques amounting to Nu. 380.00 million is for the four projects under PTA of conservation of Tashigang Dzong ( Nu.40 M), Conservation of Phajoding Lhakhang ( Nu. 70 M) , DPR of 2640 MW Kuri – Gongri HEP ( Nu. 120 M ) and Construction of Pema Gatshel Dzong ( Nu. 150 M).
The cheque amount- ing to Nu. 624.850 m is for the final installment for the 2nd batch of 254 projects.
The Secretary thanked Government of India for the timely release of funds. He informed that the India- Bhutan development cooperation projects were at advance stages of implementation and efforts were being made to complete projects as scheduled. He requested the Deputy Chief of Mission to process the pending releases at an early date.
The Government of India has committed Nu. 50 B for the 11th Plan to the government. The detailed break-up of the commitments are: Nu. 28 B is for Project Tied Assistance (PTA), Nu. 8.5 B for Programme Grant, Nu. 8.5 B is for Small Development Projects (SDP) and Nu.5 B is for Economic Stimulus Package.
As on date, Government of India has released Nu.16 B for GoI PTA projects, Nu. 5,525B for Programme Grant and Nu.5,717 B for SDP to the government . In total, GoI has released Nu. 31,646 B to the government which is 63.29% of the total committed allocation in the 11th Plan period.