Tuesday, June 18, 2019

Bangladesh approves over Tk 2 trillion development budget

  • Senior Correspondent, bdnews24.com
    Published: 2019-05-21 13:45:44 BdST

bdnews24

The government has approved a Tk 2.03 trillion development budget for the fiscal year beginning July 1.

The figure is 17.18 percent higher than the current year’s original outlay and 21.39 percent bigger than the revised outlay.

The approval came at a meeting of the National Economic Council chaired by Prime Minister Sheikh Hasina.

Later, Planning Minister MA Mannan briefed the reporters about the outcome of the meeting at the NEC conference in Dhaka on Tuesday.

Of the total ADP outlay, Tk 1.3 trillion will come from domestic sources, Tk 718 billion from external sources and about Tk 124 billion from the coffers of the autonomous bodies.

The transport sector received the biggest chunk: more than Tk 528 billion or about 26 percent of the entire annual expenditure.

The power sector came in second with an allocation of Tk 260.17 billion or 12.83 percent of the ADP, followed by Tk 243.24 billion or 12 percent for physical planning, water supply and housing, Tk 213.79 billion or 10.55 percent for education and religion, and Tk 175.41 billion or 8.65 percent for science and ICT.

Rural development and institutions have been allocated Tk 151.57 billion or 7.48 percent, health, population and family welfare Tk 130.55 billion or 6.44 percent, agriculture Tk 76.16 billion or 3.76 percent, water resources Tk 56.53 billion or 2.79 percent, and public administration Tk 50.24 billion.

In terms of allocations for ministries and divisions, Local Government Division has the most share of the ADP – Tk 297.77 billion, followed by Tk 260.14 for Power Division and Tk 251.63 billion for Road Transport and Highways Division.

Science and technology ministry has been allocated Tk 159.08 billion, railways ministry Tk 125.99 billion, Directorate General of Health Services Tk 99.36 billion, primary and mass education ministry Tk 92.7 billion, Directorate of Secondary and Higher Education Tk 89.27 billion, Bridges Division Tk 85.61 billion and water resources ministry.

The ADP allocations will be used to implement 1,564 projects, including 89 with funds from the autonomous bodies or corporations, according to the planning minister.

The NEC on Tuesday also cleared 1,046 new projects for the next fiscal year, the minister said. 

It could be possible to spend Tk 970.3 billion of the ADP in the outgoing fiscal year in 10 months until April, Mannan said.

The amount is 54.94 percent of the revised ADP and Tk 144.27 billion more than the allocations spent in the same period last financial year.