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The country's education sector is likely to get a significant boost in budgetary allocation in the upcoming 2025-26 fiscal year, aiming to enhance the quality of education and align it with international standards.
Planning and Education Adviser Dr Wahiduddin Mahmud has emphasised increasing the allocation for education, said sources at the Planning Commission.
"He has given specific directives to prioritise increased budgetary allocations for education," a senior Planning Commission official told UNB.
The official said the upcoming allocation would represent a substantial proportional increase but the focus will not be limited to infrastructure.
More emphasis will be given on procuring educational tools, scientific equipment, and research materials, he said.
Speaking at a recent Executive Committee of the National Economic Council (Ecnec) briefing, Dr. Wahiduddin Mahmud said that the interim government is committed to enhancing education sector budget.
"We think we will allocate a higher budget for education by the end of the fiscal year," he said during the briefing.
Dr. Wahiduddin, one of the country's leading economists, had earlier highlighted the importance of human resource development alongside infrastructure investment.
"Infrastructure without skilled human resources is merely a skeleton," he said at a lecture organised by the Economic Reporters' Forum in Dhaka.
He warned that inadequate human resource development could trap the country in the lower-middle-income bracket.
The ousted Awami League government allocated Tk 947.1 billion to the education sector in the 2023-24 fiscal year, a 7.42 per cent increase from the previous year.
The budget included Tk 388.19 billion for primary and mass education, up from Tk 347.22 billion in FY2023-24, Tk 441.08 billion for secondary and higher education against Tk 428.39 billion in the previous fiscal year.
Besides, Tk 117.83 billion was allocated for the Technical and Madrasa Education, an increase from Tk 106.02 billion.
However, as a percentage of GDP, education sector allocation has decreased to 1.69 per cent from 1.76 per cent in the previous fiscal year. This is the lowest allocation in 16 years and far below UNESCO's recommended 4-6 per cent.
Annual Development Programme (ADP) for FY2024-25, approved by the National Economic Council (NEC), education ranked third among the top 10 sectors, receiving Tk 315.29 billion (11.36 per cent of the total ADP outlay of Tk 2.65 trillion).
The transport and communication sector topped the ADP allocation with Tk 706.8775 billion (26.67 per cent), followed by power and energy with Tk 407.52 billion (15.38 per cent).
According to the latest World Bank data, Bhutan topped the region in 2022 by allocating 8.14 per cent of its GDP to education.
It was followed by the Maldives with 4.58 per cent, Nepal with 3.65 per cent, and Pakistan with 1.97 per cent. India, in 2021, dedicated 4.64 per cent of its GDP to education, while Afghanistan allocated 4.34 per cent in 2017.
In contrast, Sri Lanka allocated only 1.20 per cent of its GDP to education in 2022.