Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
A seven per cent increase in allocation for the transport and communication sector has been proposed in the budget for the upcoming fiscal year of 2023-24. The road transport sector gets the highest allocation as it is to start two metro rail projects.
According to the proposed budget for FY 2023-24, Tk 876.29 billion has been set aside in the budget for construction of rail, bridge and others.
During the FY 2022-23, allocation for the sector was Tk 815.19 billion.
However, the highest 13 per cent increase in the budget has been proposed for the road transport sector, under which the MRT 1 and MRT 5 North will be implemented in the upcoming FY.
The budget proposed a total of Tk 677.93 billion for the rail, bridge and road transport -- highest Tk 397.10 billion for road transport, in FY 2023-24 including Tk 340.62 billion under the Annual Development Programme (ADP). The division received Tk 352.48 billion in the current FY 2022-23.
The Bridge Division will receive Tk 20.01 billion higher in the coming fiscal year than this fiscal. The division which is supposed to complete Karnaphuli tunnel, Dhaka Elevated Expressway, elevated road of Bus Rapid Transit Line in the upcoming FY was allocated Tk 70.72 billion.
The railway sector has been earmarked Tk 190.01 billion in the upcoming fiscal year against Tk 164.77 billion in the current revised budget.
Sources said the Bangladesh Railway is supposed to complete two mega projects -- Padma Bridge Rail Link Project and Dohazari-Cox's Bazar rail track development project in the upcoming fiscal year. Besides, officials said the Bangabandhu railway bridge over the Jamuna river is also supposed to see completion of a major portion of its work.
In the budget speech on Thursday, the finance minister said the government was committed to ensuring timely completion of ongoing projects and subsequent maintenance after implementation.
"We are laying emphasis on the integrated development of various modes of communication, including roads, bridges, railways, sea routes, and airways,' he added.