Friday, May 24, 2019 | 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

Loan default is civil liability, criminalising is bad business

The High Court has halted the privilege of loan defaulters to secure further loans by giving a 2 per cent down payment until June 23. It issued a status-quo

HC summons BFSA chief Substandard food

Staff Reporter :The High Court (HC) on Thursday summoned the Chairman of Bangladesh Food Safety Authority (BFSA) for not complying with court's earlier order to remove 52 food products from

Big win for Narendra Modi,  Congress admits defeat

Big win for Narendra Modi, Congress admits defeat

New Delhi/Ayodhya (Reuters) :Indian Prime Minister Narendra Modi scored a dramatic election victory on Thursday, putting his Hindu nationalist party on course to increase its majority on a mandate of

Thousands of vehicles remained stuck at a huge traffic gridlock in different city roads, causing untold sufferings to commuters. This photo was taken from Kakoli-Banani area on Thursday.

Thousands of vehicles remained stuck at a huge traffic gridlock in different city roads, causing untold sufferings to commuters. This photo was taken from Kakoli-Banani area on Thursday.

BRTA to keep vigilant activities at bus terminals during Ramzan

Staff Reporter :Bangladesh Road Transport Authority (BRTA) will continue vigilant activities in city's bus terminals to make smooth journey for home-goers during the coming Eid-ul-Fitr.   Three committees of BRTA will

HC summons BFSA chief

Staff Reporter :The High Court (HC) on Thursday summoned the Chairman of Bangladesh Food Safety Authority (BFSA) for not complying with court's earlier order to remove 52 food products from

'All losers are not losers,' says Mamata Banerjee

'All losers are not losers,' says Mamata Banerjee

Outlook Web Bureau :West Bengal Chief Minister Mamata Banerjee on Thursday congratulated the winners after the first few hours of the Lok Sabha election results made amply clear that Narendra

4 of a family killed in Gazipur gas cylinder blast

UNB, Gazipur :Four members of a family were killed in a gas cylinder explosion at Islampur in the city on Wednesday night.The deceased were identified as Shah Alam, 38, his

8 more killed in road crashes

Staff Reporter  :Reckless driving takes lives again on the streets. At least eight persons including a school teacher were killed and 20 others seriously injured in separate road crashes across

British govt postpones Brexit vote

AFP  :The British government on Thursday postponed a crucial Brexit vote scheduled for the first week of June, following an outcry from hardline Brexiteers over concessions made by Prime Minister