The National Council yesterday decided to repeal section 6 of the Supplementary Budget Appropriation Bill Financial Year 2019-20 and assigned the Economic Affairs Committee to prepare the Bill for final adoption. Section 6 proposes a supplementary budget of Nu 5 million (M) to the National Assembly for Parliamentary Committees and secretariat services.

The National Assembly (NA) yesterday rejected the National Council’s (NC) proposal with 33 votes to commence the fiscal incentive amendment Bill 2020 as per the Section 46B of the Public Finance Amendment Act 2012. Section 46B of the Public Finance Amendment Act 2012 states: “The imposition or increase of any tax or abolition, reduction or remission of any existing tax once passed as law by Parliament, shall be applied retroactively from the date it was initially tabled in the National Assembly.”

Bhutan’s journey in space technology began in 1988 when it became a member of the International Telecommunication Union (ITU) and was allotted its first orbital slot.  According to Karma Yonten, a member of satellite working group, the orbital slot at 59.1 degrees east longitude was similar to a real estate in space - where the country can station a geostationary satellite.