Bangladesh News

Sunday
Oct 22nd
Home arrow News arrow Business News arrow Coming ADP to focus on agriculture, human resources
Coming ADP to focus on agriculture, human resources PDF Print E-mail
Sunday, 08 June 2008

Bdnews24.com

The upcoming ADP will focus on agriculture and development of human resources, finance adviser AB Mirza Azizul Islam said Saturday.

The National Economic Council earlier in the day approved a Tk 25,600 crore annual development programme for the fiscal year 2008-09, at a meeting presided over by the chief adviser.

Finance ministry officials told bdnews24.com that Tk 13,600 crore, or 53 percent of the total ADP, would be funded locally and the remaining Tk 12,000 crore, or 47 percent, would come from foreign funds.

The planning secretary said that the total amount had earlier been fixed at Tk 25,500 crore. A further Tk 100 crore was added at the eleventh hour.

The ADP for the coming fiscal year is 3.4 percent smaller than the past fiscal year's initial ADP, but 14 percent or Tk 3,100 crore larger than the amended ADP for the fiscal year just ending.

In the budget for the fiscal year just ending, 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 programme increased, at 1,058 in the revised ADP compared to 931 in the original.

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

The finance adviser said it was designed to focus on agriculture and the sectors relating to poverty alleviation and human resources development.

Employment generation, power generation, education and development of good governance have also been put on the list of priorities for the next ADP.

According to a summary, signed by planning secretary Jafar Ahmed Chowdhury, Tk 6,120 crore or 24 percent of the total ADP will be spent on agriculture, rural development and rural companies, and water resources sectors.

Tk 4,310 crore or 16.84 percent of the ADP will be spent on power, oil, gas and natural resources, Tk 3,519 crore or 13.75 percent on education and religion and Tk 3,450 crore or 13.48 percent on the transport sector.

Tk 1,131 crore has been kept for separate block allocations.

A special allocation of Tk 40 crore has been made for the extreme poor of 39 districts of the country.

"We have approved an ADP based on reality and one that can be implemented. Since prices of commodities have increased, we did not formulate a lofty development programme," the finance adviser told reporters after the NEC meeting.

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 from the previous year.

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
Name:
Email:
  We don't publish your mail. See privacy policy.
Title:
Please input the anti-spam code that you can read in the image.
 
< Prev   Next >