Draft Economic Development Policy released; Micro-finance organizations being strengthened in order to help in alleviation of poverty; Senior BJP MP Jaswant Singh calls for establishment of separate state of Gorkhaland
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    • Bhutan released its draft Economic Development Policy (EDP) which provides for exemptions on excise duty, sales tax, customs duty and money borrowed from outside sources. The policy identifies services, agriculture, energy, cultural industry, construction, transportation and manufacture as growth areas which require urgent priority. Other thrust areas identified include giving impetus to the private sector and encouraging public-private sector partnerships1.

    The policy is expected to be operational by August 2009. The Royal Monetary Authority on its part has expressed its disagreement with certain aspects of the draft policy. It told the Ministry of Economic Affairs (MoEA) that raising funds from outside the country could jeopardize the domestic economy in the long run2.

    Reports noted that the country was also resorting to micro-finance organizations like the Bhutan Development Financial Corporation (BDFC) in order to alleviate poverty in its most backward districts. The BDFC is acting as a supervisory and monitoring body to oversee the proper utilization of loans3.

    In other developments, Darjeeling MP and senior BJP leader Jaswant Singh has called for the creation of a separate state of Gorkhaland. He added that the demand of the people of the region should be realized, given the strategic importance of the region which shares international boundaries with Bangladesh, Bhutan, Tibet and Nepal4.

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