Last week, I had the privilege of attending a meeting organized by the Paro Dzongkhag. Amid unhappy local leaders and business community, the Hon'ble Finance Minister along with the officials from the Ministry of Finance talked on the rationale and objectives of the recent tax revision and new budget. In more than three hours,these are the things I understood:
Our nation is reeling under a dangerous budget deficit or more than Nu. 24 billions. For lay men, one billion is equivalent to 1000 millions and every million is equal to 10 lakhs. So calculate how many 10 Lakhs can go in 24 billions. Technically speaking, our national exchequer does not have a money that can be called as ours. We are poor by that much.
To achieve the national goal of self reliance, first thing we need to do is to live within our own means. Yes. Live within our own means. Each time you have a meal, just see what are things in your plate that are produced in our country. In my case, I see only water that is Bhutanese.
New taxation policies and budget appropriations are nothing but are fiscal measures to induce some sense of frugality among reckless spending Bhutanese. Poor people have no means to be reckless so this is for all the filthy rich people to bear in mind.