Saturday, June 24, 2017

Govt boosts development spending by 39% for FY18

  • Staff Correspondent, bdnews24.com
    Published: 2017-05-14 16:34:33 BdST

bdnews24

The government has approved a Tk 1.53 trillion outlay for the annual development programme or ADP for the year starting July 1, a 39 percent increase from the current year.

The transportation sector has been allocated the largest chunk of funds for mega projects such as Padma bridge, metro rail and the Karnaphuli tunnel.

The new ADP was approved at a meeting of the National Economic Council led by Prime Minister Sheikh Hasina at Sher-e-Bangla Nagar on Sunday.

Planning Minister AHM Mustafa Kamal told reporters that Tk 963 billion, or 63 percent, of the funds allocated for development projects in FY2018 will come from the government’s own coffers or domestic sources.

The other Tk 570 billion, or 37 percent, will come from foreign funds.

About Tk 107.53 billion has been set aside for the projects to be implemented by autonomous institutions with their own funds.

That takes the total outlay for ADP to Tk 1.64 trillion.