The National Economic Council (NEC) Tuesday approved Tk 86,000.96 crore for Annual Development Programme (ADP) in the upcoming fiscal with keeping aside Tk 8100 crore for the Padma Bridge project in the development budget for 2014-15 fiscal.
Most of the cabinet ministers, including LGRD Minister Syed Ashraful Islam, Railways Minister Mujibul Haque and Water Resources Minister Anusul Islam Mahmud have been pushing for a higher ADP outlay, which subsequently led to the approval of a staggering Tk 86,000 crore development budget for the next fiscal.
The new ADP is Tk 20,128 crore higher than current original ADP outlay of Tk 65,872 core, which was later downsized to Tk 60,000 crore.
The development budget for 2014-15 fiscal includes Tk 5685.48 crore for schemes of autonomous bodies and a block allocation of Tk 1,284.48 crore. The main ADP size will, however, stand at Tk 80,315 crore if the own-financing portion (Tk 5,685 crore) to be mobilised from corporations and autonomous bodies are excluded.
The approval came at a meeting of the NEC at NEC conference room in city’s Sher-e-Bangla Nagar with NEC chief and Prime Minister Sheikh Hasina in the chair.
The finalised ADP outlay is Tk 6,969 crore higher than a draft development budget of Tk 79,031 crore, which was approved recently with sector-wise allocations ahead of the upcoming national budget scheduled to be placed in parliament on June 5.
Standing for the big ADP size, the Planning Minister said Bangladesh is now not in a position as it was five years back as the next ADP size is TK 86,000 crore which was TK 23,000 crore in 2009.
Terming the Bangladesh economy as a resilient one, he said the economic indicators of the country are gradually going upwards as those are not witnessing downward trends now. He also noted with satisfaction that the per capita income of yen country is currently around $ 1180.
The Planning Minister said an additional allocation of TK 1,284 crore was made by the Prime Minister to meet the additional demand of some ministries while the sector-wise final allocation would be made later through adjusting the additional allocation.