About measures and incentives

Last week, the government announced that they “…will be introducing measures to expand the revenue base.” And, that they are “…also considering fiscal incentives to stimulate the private sector growth…” These announcements were made, quietly, in the government’s National Budget for 2009-10. But, the budget report offered no details.

These are significant financial policies. So, our government should elaborate what “measures” and “incentives” our people can expect during the coming year.

 

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  1. Expanding revenue base within the kingdom is no doubt by expanding the facilitation of the private sector in a positive manner. It will be by creating an atmosphere conducive to conducting business in a very healthy manner. The government should raise the ranking of ease of conducting business from 120 or so to within 20 in the world. This is not difficult at all if the government listens to private sector aspirations. There will no doubt be many aspirations from teh private sector and it is upto the government of heed to the ones that make sense and implement it right away instead of passing it down to relevant ministries to look at it to get back at a later time. It has never worked and will not work considering the PAST experience. We hear PM will be meeting various private sector groups soon to hear certain issues and I think it is definitely a big STEP FORWARD. We hear that the business people are eager and looking forward to this opportunity and I am confident that issues will be thrashed out in this gathering. AND when the government is willing to listen and create good atmosphere to the private sector to conduct businesses, the private community should also gear up and work extra hard to contribute well to the government coffers by being innovative, working hard, making good profits and then eventually paying good taxes. I AM IN ANTICIPATION TO SEE LIGHT AT THE END OF THE TUNNEL FOR SYNERGIES BETWEEN THE GOVERNMENT AND THE PRIVATE SECTOR.

  2. freewill says:

    I also think Bhutan needs to develop its private sector and make it the backbone of out economy.
    For example, in most of the developed countries sometimes working for private sector is better than working for the government. Where as in Bhutan, working for private sector is the last resort.
    I think the most important thing that needs to be done with Bhutan’s private sector is have employee guidelines, so that every private sector employee is offerred with benefits like pension, sick leave, vacation, study tours,etc.
    We also need to do consultation work and surveys on why people in Bhutan always want civil service, and do things accordingly to improve private sector.
    Also Bhutanese corporation are technically not corporations because they are mostly owned by the government and are managed by government appointed civil servants. They need to look into that and help set up legitimate corporations in Bhutan. The US economy is the largest economy in the world mostly due to its corporations(not the Bhutanese kind of corporation).

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