The government is set to approve a Tk 2.46 trillion annual development programme (ADP) for the next fiscal year (FY) 2022-23 today (Tuesday), aiming to facilitate quick recovery of the economy, officials said on Monday.
The new ADP is expected to be endorsed by the National Economic Council (NEC) at a meeting at the Planning Commission (PC), with Prime Minister Sheikh Hasina in the chair, a PC official told the FE.
If approved without any revision in the draft ADP, the outlay would be Tk 384.50 billion or 18.52 per cent higher than the Tk 2.07 trillion revised ADP for the outgoing FY.
Besides, the outlay would be Tk 210 billion up from the Tk 2.25 trillion original ADP allocation of the current FY.
"We have already approved the draft ADP for the upcoming FY at a meeting last week, headed by the Planning Minister. The draft development budget is likely to be approved by the NEC," another PC official said.
According to the PC, the transport and communications sector would get the highest allocation of Tk 698.69 billion in the new ADP, the PC officials said, followed by the power and energy sector Tk 394.12 billion and the education sector about Tk 291 billion.
An official said the PC has proposed to allocate Tk 1.53 trillion funds from the government's internal resources while the rest Tk 930 billion from the external resources as project assistance (PA).
He said: "We are going to finalise the fresh ADP for the FY2023 with 18.52 per cent increased allocation from the current RADP."
The transport sector got the highest priority like the previous years as the country needs huge investments to improve the infrastructure across the country, the official said.
According to the PC, the housing and community facilities sector has grabbed the 4th highest allocation of Tk 246.97 billion and health sector the 5th highest with Tk 190 billion in allocations.
The current RADP has allocated the highest Tk 558.27 billion for the transport and communications sector, followed by Tk 392.14 billion for the power and energy sector.
Earlier, the government cut the original Tk 2.25 trillion worth of ADP by 7.89 per cent to Tk 2.07 trillion in March this FY2022 as the ministries and divisions performed poorly in project implementations.
The Implementation Monitoring and Evaluation Division (IMED) report showed that the government agencies had implemented 45.56 per cent of the RADP during the first nine months from July to March of this FY2022.
The NEC endorsed the Tk 2.07 trillion RADP for the current FY2022 mainly slashing the project assistance (PA) by Tk 175 billion.
The PA was trimmed down by Tk 177.74 billion to Tk 702.50 billion in the revised development budget, he said.
However, the Tk 1.37 trillion outlays from the government's internal resources remained unchanged in the newly approved RADP.
In the last FY2021, the PC finalised the RADP trimming down the allocations by Tk 75 billion to Tk 1.97 trillion from Tk 2.05 billion outlay.
In the previous FY2020, the government revised down the ADP outlay to Tk 1.93 trillion from that of Tk 2.02 trillion original outlays.