BHUTAN'S ECONOMY AND ENVIRONMENT
Bhutan, in terms of its economy is considered as a last country to walk the path of modernization in the world. However, it is an amazing thing to know that it is also one of the fastest growing economy in the world. Bhutan formally started its modern development progress from 1961 with the introduction of "First Five Year Plan" which has now become the main developmental plans for every five years in the country. The Five Major Revenue Generator in the country are:
1. Hydro Power Projects
4. Small and Cottage Industries.
These five sectors are considered as FIVE JEWELS OF BHUTAN'S ECONOMY. Bhutan, falls under the category of Least Developed Countries (LDCs) but soon it is going to graduate from the category. Bhutan has come through thick and thin of its economy and today the country is recognized for its rapid development within short span of time. Economically, Bhutan is a self standing country though has to rely other countries in terms of some resources.
Guided by the Development Philosophy of Gross National Happiness, Bhutan enjoys industrialization and modernization without much harm to the natural environment. Environment is Bhutan's wealth and therefore the Constitution of Kingdom of Bhutan mandates 60% of forest coverage without fail. Construction of Roads, Buildings, Cities and Hydro Power Plants are well managed with very minimal impact to the environment.
Bhutan's environment ranges from green low land grass to the white snow peaks. Small huts, temples, caves, monasteries and prayer flags amidst the green serene nature adds beauty to the country's environment.