Bangladesh News

Feb 21st
Home arrow News arrow Business News arrow Tk 25,600 crore ADP gets NEC nod
Tk 25,600 crore ADP gets NEC nod PDF Print E-mail
Sunday, 08 June 2008

The National Economic Council on Saturday approved a Tk 25,600 crore annual development programme for fiscal 2008-09.

Finance adviser AB Mirza Azizul Islam told the ADP had been approved at a meeting of the economic council presided over by the chief adviser.

Finance ministry officials told that Tk 13,568 crore, or 53 percent of the total ADP, would be funded locally and the remaining Tk 12,32 crore, or 47 percent, from foreign funds.

The planning secretary said that the size of the annual development programme had earlier been fixed at Tk 25,500 crore. A further Tk 100 crore was added at the eleventh hour.

In the current fiscal year's budget, the ADP was initially set at Tk 26,500 crore. As implementation was not satisfactory, an NEC meeting on Mar 24 cut it down to Tk 22,500 crore.

Although it was revised down, the number of projects under the annual development programme increased, at 1,058 in the revised ADP compared to 931 in the original ADP.

The ADP for the next fiscal year will also undertake more projects in agriculture, power, rural development and poverty alleviation.

An analysis of 36 annual development programmes since independence reveals that the size of the ADP has increased every year.

The ADP just approved marks the first time it has been slimmed down.

In 1972-73, the country's first ADP was Tk 501 crore. In fiscal 2006-07, the ADP size was Tk 26,000 crore.

After slashing the current year's ADP in March, finance and planning adviser AB Mirza Azizul Islam had told reporters: "ADP revision is a continuous process. This year also, the original ADP has been slashed down to Tk 22,500 crore."

In the first ten months (July-April) of this fiscal year, 54 percent of ADP had been implemented.

The finance adviser is set to announce the budget for the next fiscal year on June 9, with BTV and state-run radio broadcasting his budget speech.

Comments Add New
Write comment
  We don't publish your mail. See privacy policy.
Please input the anti-spam code that you can read in the image.
< Prev   Next >