As always, the size of the government’s development budget is decreasing this time too. Although the allocation of 263,000 crore taka was allocated in the Annual Development Program (ADP) for the current fiscal year 2023-24, it has been reduced by 18,000 crore taka halfway through. The size of the revised ADP stands at 245,000 crore taka.
This money is being deducted from the ADP due to the old failure of not being able to implement projects on time. However, the transport, power, housing and education sectors are getting the most importance among the 15 sectors in the development budget. 25.82 percent of the total revised Annual Development Program (RADP) is being allocated to the transport and communication sector, which is 63,263.31 crore taka in terms of taka.
19,969 crore taka is allocated to the local government and rural development sector, 14,272 crore taka to the environment, climate change and water resources sector, 12,66 crore taka to the health sector, and 2,854 crore taka to the religion, culture and entertainment sector. The science and information technology sector has an allocation of 3,637 crore taka and the social security sector has an allocation of 2,767 crore taka.
In the current 2023-24 revised ADP, own financing is decreasing by 7,500 crore taka. Own financing in the ADP was 1,69,000 crore taka, which is decreasing by 1,61,500 crore taka.
Allocation from foreign aid is decreasing by 10,500 crore taka. This will bring the amount of foreign aid in the revised ADP to 83,500 crore taka. Currently, there are 1,392 projects in the ADP.
The second important sector in the development budget is electricity. Where 15.47 percent or 37,896 crore taka of the total allocation is being allocated. The third highest allocation is in the housing and community facilities sector, about 11.43 percent, which is 28,020 crore taka in terms of taka.
In addition, 17,223 crore taka is being allocated to the education sector. The revised ADP had decreased by Tk 18,500 crore in the last fiscal year as well.
Advertisement
According to Planning Commission sources, the size of the revised ADP was finalized earlier in an extended meeting of the Planning Commission. It will be approved in the National Economic Council (NEC) meeting to be held under the chairmanship of Prime Minister Sheikh Hasina on Tuesday (March 12).
According to Planning Ministry sources, out of the 15 sectors, Tk 2,427 crore has been allocated for the general government services sector, Tk 9,200 crore for the defense sector, Tk 3,376 crore for the public order and security sector, Tk 4,630 crore for the industrial and economic services sector, and Tk 10,317 crore for the agriculture sector.
Meanwhile, only 22.48 percent of the ADP has been implemented in the first six months of the current fiscal year (July-December), which is the lowest in the last 10-12 years. Those concerned say that money is not being released as per the demand in many projects, due to which the implementation of ADP is also decreasing.
