Wednesday, June 20, 2018 | ePaper

National Budget 2018-19

Spending priority fixed on 6 sectors

  • Print
Special Correspondent :
The government has fixed spending priorities in six key sectors in the next national budget (2018-19) with a view to attaining a higher economic growth.
Officials related to budget formulation said, human resource development and education would get the highest priority in the next budget in terms of allocation followed by power and energy, physical infrastructure, agriculture, rural development and employment generation.  
"The budget will focus in these very areas along with some new areas of the government interest like digital economy, export market diversification, capacity building to counter climate change impact and increase remittance earnings," a senior Finance Ministry official told The New Nation asking not to be named.
He said the next budget would propose additional spending to these sectors for driving economy to a higher growth trajectory.
"All the key budgetary outlines have already been finalized without bringing any major reforms in both expenditures and revenue collection," he added.  When asked, the official said the new national budget would remain almost the same as of the current one excepting some ups and downs in the figures of income and expenditure.
Finance Minister Abul Maal Abdul Muhith had earlier said that human resources development and education get priority in the national budget for the fiscal 2018-19 as a catalyst of achieving higher growth trajectory.
He said focus would also be given to the sectors like infrastructure, power and energy, and transport.
Muhith will present the Budget 2018-19, Awami League Government's last full-fledged budget ahead of the 2019 national elections, in the parliament on June 7.
According to Finance Ministry sources, the allocation to be proposed in the next budget for human resource development and education would account for over 18 percent of the total budget. The allocation amounts to Tk 87,248 crore.
An outlay of Tk 82,160 crore has been provided to this sector in current fiscal's budget (2017-18).
The next budget is expected to propose Tk 51,668 crore allocation for developing power- energy and psychical infrastructure. Of the total amount, Tk 24,920 crore will get power and energy sector alone. The allocation would be 5.3 percent of the total budget for next fiscal.
The current fiscal's budget (2017-18) allocated Tk 46,994 crore for the heads of power and energy and psychical infrastructure.  As per the draft allocation, the next budget would propose Tk 16,124 crore outlay for   agriculture and rural sector development and the amount would be 3.4 percent of the total budget.  An allocation of Tk 15,489 crore has been provided to these sectors in this year's budget.  
The size of the upcoming fiscal budget, as hinted by Finance Minister AMA Muhith, is likely to be around Tk 4,68,200 crore against the size of the current fiscal's budget of Tk 4,00,266 crore.

More News For this Category

Sino-US trade war escalates

BEIJING, Washington (Reuters) :U.S. President Donald Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods and Beijing warned it would retaliate, in a rapid escalation

Japan win over Colombia 2-1

Japan win over Colombia 2-1

Sports Desk :Japan have created history after becoming the first Asian side ever to beat a South American team in a World Cup match. Japan wore down a Colombian team

More Sylhet areas go under water

Staff Reporter :Flood in Sylhet region following breach in embankments on Koshiara river bank on Monday worsened the situation in Beanibazar Upazila while inundating more areas of  Uttarbagh union of

Gas Distribution Co pressing for increase of gas price by 300 pc

Anisul Islam Noor :Karnaphuli Gas Distribution Company Ltd (KGDCL), responsible for distribution of gas in Chattogram region, on Tuesday pressed for increase of gas price hike by 300 percent on

BNP nomination forms sale today

Staff Reporter :The BNP will sell nomination papers on Wednesday among mayor aspirants for three cities including Rajshahi, Barishal and Sylhet from its Nayapaltan central office. The party Senior Joint-Secretary

Rohingyas need global protection

The enormous Rohingya influx into Bangladesh has placed acute strain on host communities and resources in Cox's Bazar district where most of the Rohingyas are concentrated, says a new global

KL to lay multiple charges against Najib

KUALA LUMPUR, Reuters :Embezzlement and bribery with government money are among the charges that Malaysia is looking to bring against former prime minister Najib Razak following a probe into funds

Gaza `on brink of war`: UN Chief

Al Jazeera news :UN Secretary-General Antonio Guterres has warned that the escalation of violence in the Gaza Strip places the besieged enclave on the "brink of war", as he urged

GCC polls Plying of vehicles barred June 24-26

Staff Reporter :The authorities have imposed restriction on plying of different types of vehicles in Gazipur from June 24 midnight to June 26 midnight ahead of the Gazipur City Corporation

BNP demo for Khaleda`s release tomorrow

Staff Reporter :The BNP will stage countrywide demonstration on Thursday demanding unconditional release of its jailed ailing chairperson Begum Khaleda Zia and her proper treatment.BNP Senior-Joint Secretary General Ruhul Kabir