Tk27,214cr budget proposed for agriculture sector

Finance Minister Abul Hassan Mahmood Ali today proposed Tk27,214 crore for the agriculture sector for the fiscal year 2024-25 (FY25) which is over Tk2,091 crore less compared to the original budget for the FY2023-24.

The finance revealed this while presenting the proposed national budget for FY25 at the Jatiya Sangsad this afternoon with Speaker Dr Shirin Sharmin Chaudhury in the chair. 

The proportion of agriculture budget outlay is only 3.8% of the total proposed budget. The agriculture sector got Tk25,122 crore in FY24 but in the revised budget it [budget outlay] has been increased to Tk33,280 crore by enhancing Tk8,158 crore.

Under the proposed budget, over Tk20,790 crore has been allocated as operating expenditure while nearly Tk6,424 crore has been proposed for development expenditure which is 2.4% of the allocated budget proposed for the annual development programme (ADP).

"We cannot survive by depending on others for food. We must produce our own essential food by ourselves. We must ensure the livelihood of our farmers, and increase production; otherwise, Bangladesh cannot survive", said the finance minister quoting the Father of the Nation Bangabandhu Sheikh Mujibur Rahman as saying. 

Embracing this philosophy of the Father of the Nation, Prime Minister Sheikh Hasina has brought about a revolution in the country's agriculture sector, he told the parliament.

A wide-ranging initiative has been undertaken, including the development of improved and resilient crop varieties, innovative farming technologies, rapid dissemination of adapted varieties and technologies, supply of agricultural inputs such as fertilizers and seeds at fair prices, expansion of irrigated areas, adoption of improved agricultural practices, and mechanisation of agriculture.

Production of crops including rice, maize, potatoes, vegetables and fruits is on the rise as a result of the agri-oriented policies of the government. 

In FY2008-09, the total production of food grains was 328.96 lakh tonnes. By FY2022-23, this increased by approximately 42% to 467.03 lakh tonnes. 

Bangladesh ranks 3rd globally in the production of rice, vegetables, and onions, 2nd in jute production, 4th in tea production, and 7th in the production of potatoes and mangoes, according to his budget speech.

"Vertical farming is being adopted to increase crop productivity. This trend promotes various forms of innovative agriculture such as floating farming, rooftop farming, hydroponics, aeroponics, and precision farming", he said, adding "As a result of these advancements in agricultural techniques, the country's agricultural sector is gradually transforming from subsistence farming to commercial farming".

"We have already started implementing the 'Smart Farming Card and Digital Agriculture (Pilot) Project (2022-26)' and the 'Climate-Smart Agriculture and Water Management' Project (2022-25)", Ali said. 

"Additionally, we are providing agricultural information services to the farmers through various mobile and web applications, including agricultural community radio, Krishok Bandhu Phone, online fertiliser recommendations, e-irrigation services, rice knowledge bank, agricultural technology hub, e-Pesticide Prescriptions, Krishoker Janala, Krishoker Digital Thikana and community rural radios.

Online agricultural marketing platforms 'Hortex Bazaar' and 'Food for Nation' have been launched to facilitate the marketing of farmers' produce", the finance minister added.