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A Revised Annual Development Programme (RADP) with a pared-down outlay of Tk 2.16 trillion for the current fiscal year is up for approval today, officials said.
The planning commission has finalised the RADP by trimming down the development budget Tk 490 billion.
The proposal for approval is to be placed at the meeting of the National Economic Council (NEC) scheduled to be held today at the NEC auditorium in the capital with Chief Adviser to the interim government Professor Dr Muhammad Yunus in the chair.
The NEC approved ADP worth Tk 2.65 trillion at the beginning of the fiscal year 2024-25: Tk 1.65 trillion from government funds and Tk 1.0 trillion from foreign sources as loans and grants.
The government will finance Tk 1.35 trillion from the domestic sources to implement the RADP and another Tk 810 billion is to be managed from foreign resources.
The proposed RADP would be 18.49-percent lower than the original ADP, with a reduction of the domestic resources by 18.49 per cent and foreign bankrolling by 19 per cent.
The officials said that all of the ministries and divisions had spent Tk 598.77 billion, only 21.52 per cent of total allocation, in the first seven months of the fiscal. About 18.24 per cent from the allocation of domestic resources had been utilized and the utilization from the foreign allocations is 24.96 per cent.
The deep cuts from the ADP would come following a lower ADP utilization, resource constraints and reprioritization aiming to drop some "politically motivated" projects initiated by the deposed Awami League government, said officials of the planning commission.
The proposed RADP would carry some 1437 projects, while 1212 are investment projects. Some 71 projects that got approval in the current fiscal year after formulation of the ADP would be added up to the RADP.
Transportation and communications sector is proposed to receive Tk 482.53 billion, 22.34 per cent of the proposed RADP, which is the highest among 14 sectors.
Power and energy, education, housing and community facilities and local- government sectors are among those receiving top allocation.
The local government division is proposed to receive the highest Tk 361.59 billion, 16.74 per cent of the allocation. Power Division, Road Transport and Highways Division, primary and mass education division, science and technology ministry, and railways division are among top recipients from the RADP allocation.