As always, the size of the government’s development budget is decreasing this time. In the current financial year 2023-24 Annual Development Program (ADP) 2 lakh 63 thousand crores have been allocated, but it has been reduced by 18 thousand crores in the middle. The size of the revised ADP stands at two lakh 45 thousand crores.
This money is being deducted from ADP due to the old failure of not being able to implement the project on time. However, among the 15 sectors in the development budget, the transport, electricity, housing and education sectors are getting the most importance. 25.82 percent of the total Revised Annual Development Program (RADP) is allocated to the transport and communication sector, which is Tk 63 thousand 263 crore 31 lakh.
Electricity is the second most important sector in the development budget. Where 15.47 percent of the total allocation or 37 thousand 896 crores is being allocated. The third highest allocation is about 11.43 percent to housing and community facilities sector, which is 28 thousand 2 crore rupees.
Besides, 17 thousand 223 crores are being allocated to the education sector. In the last financial year too, the revised ADP decreased by Tk 18,500 crore.
According to Planning Commission sources, earlier the size of revised ADP was finalized in the extended meeting of Planning Commission. It will get approval at the National Economic Council (NEC) meeting to be held on Tuesday (March 12) under the chairmanship of Prime Minister Sheikh Hasina.
According to the Ministry of Planning sources, among the 15 sectors, 2,427 crores in general government services, 9,200 crores in defense sector, 3,376 crores in public order and security sector, 4,630 crores in industrial and economic services sector, 10,317 crores in agriculture sector. There is an allocation.
Read more
19 thousand 969 crores for local government and rural development sector, 14 thousand 272 crores for environment climate change and water resources sector, 12 thousand 66 crores for health sector, 2 thousand 854 crores for religion, culture, entertainment sector. 3 thousand 637 crore for science and information technology sector and 2 thousand 767 crore for social protection sector.
In the revised ADP of the current financial year 2023-24, the own financing is reduced by 75000 crores. Own financing in ADP was Tk 1 lakh 69 thousand crore, which is reduced to Tk 1 lakh 61 thousand 500 crore.
The allocation from foreign aid is decreasing by 10.5 billion taka. The amount of foreign aid in the revised ADP will stand at 83 thousand 500 crores. At present there are 1 thousand 392 projects in ADP.
Last month, the activities department of the Ministry of Planning held a meeting with the top officials and project managers of various ministries and departments. There, project officials advocated reducing foreign project aid. This is because foreign aid funds have various conditions. But domestic funding has also been reduced this time, which was unchanged in the previous fiscal year.
During the dollar crisis, economists urged more implementation of foreign aid projects. Because, implementation of these projects will increase the supply of dollars in the country. But the amendment being brought in the ADP, on the contrary, the foreign aid is being reduced.
Meanwhile, only 22.48 percent of the ADP has been implemented in the first six months (July-December) of the current financial year, which is the lowest in the last 10-12 years. Those concerned say that many projects are not releasing money as per demand, due to which the implementation of ADP is also less.
MOS/MKR/MS
#transportpowerhousing #sector #importance #development #budget