Tk24,224cr for agriculture proposed

The government has allocated Tk24,224 crore for the agricultural sector for the next 2022-23 fiscal year as the proposed agriculture budget outlay is 3.6% of the total proposed budget.

For the agriculture sector, the proposed budget is Tk8,027 crore higher compared to the last year budgetary allocation and Tk5,285 crore than the revised budget outlay of 2021-22 fiscal.

While placing the proposed budget at the Jatiya Sangsad on Thursday (9 June), Finance Minister AHM Mustafa Kamal said "Despite the crisis arising from the Covid-19 pandemic, we had been able to keep the production of agriculture uninterrupted in the country and achieve food and nutrition security thanks to the very timely directives from the prime minister."

"In the coming fiscal year, we will execute actions such as development assistance (subsidies) to keep agricultural input prices with fertiliser and seeds as low as possible at the farmer level, making available agricultural machinery to the farmers in order to mechanise agriculture, extend 'Synchronised Cultivation' and collaborate in the production, storage and marketing of a variety of vegetables and fruits, including summer onions and tomatoes," said the minister.

The minister further said, "Moreover, we have taken up a project at a cost of Tk3,020 crore titled "Mechanisation of Agriculture Work through Integrated Management" which has targeted to distribute 51,300 units of agro-machinery of 12 categories between 2020-2025."

The minister said that in FY2022-23, in line with the National Agriculture Policy 2018, Agricultural Extension Policy 2020 and 8th Five Year Plan, an action plan has been worked out on, of which the main aspects are to ensure country's food security through increased production of all types of crops including paddy and maize; innovate adverse environment-tolerant crop variety and technology and to roll it out quickly, develop and enhance the quality of their seeds using biotechnology, ensure optimum use of surface water and solar- powered irrigation, promote the production and application of organic fertilisers to safeguard soil health, issue smart cards to all farmers; to predict weather through climate-smart agriculture and bolster e-agriculture activities.

Finance Minister AHM Mustafa Kamal has placed the Tk6,78,064 crore national budget for FY23 at Jatiya Sangsad according top priority to safeguarding marginal people from inflation fuelled by the Russia-Ukraine conflict.

This is the fourth budget of the third consecutive term of the government led by Prime Minister Sheikh Hasina and also the overall 51st budget of the country.

The proposed budget is Tk74,383 crore higher than the original budget size of the FY2021-22 fiscal year, which was Tk6,03,681 crore.