Muhith proposes Taka 2537 crore more for agriculture, agro subsidy Taka 9,000 cr

The government has allocated Taka 13,678.85 crore for agricultural sector in the proposed budget of 2016 -17 fiscal which was nearly Taka 2,537 crore more than the revised budget of 2015-16.

Besides, the government has raised Taka 9,000 crore as subsidies in the proposed budget compared the actual subsidies of Taka 7,000 crore allocated in the revised budget of 2015-16.

Under the proposed allocation, the government has earmarked Taka 11,838.35 crore under the head of non-development expenditure and Taka 1,840.50 crore for development expenditure in the proposed budget for agriculture sector. 

In 2015-16, the government earmarked Taka 12,703.55 crore for the agricultural sector, but it went down to Taka 11,142.57 crore in the revised budget.

To meet the expenditure on fertiliser and other agricultural inputs, the government has proposed Taka 9,000 crore as subsidies for agriculture sector. In 2015-16, the government has also allocated Taka 9,000 crore as subsidies for the sector, but in the revised budget it was slashed to Tk 7,000 crore.

Addressing on the proposed budget of 2016-17, Finance Minister AMA Muhith said "In agriculture sector, initiatives have been taken to strengthen agriculture subsidy, provide low cost credit and high quality seeds, ensure availability of fertilizer, distribute agricultural input assistance cards, establish agricultural processing and marketing centres and diversify crops. 

In addition, management of these programmes has improved considerably. As a result, agricultural production has increased in real terms by 2.6 percent compared the last fiscal. 

Besides, we have taken initiative to transfer cash and other incentives directly to the farmers through mobile banking, he added. 

As many as 499 agriculture information and communication centres at upazila level and 727 farmers' information and consultation centres at union level have been established. Farmers are getting expert services from these centres, said the finance minister. 

It is pleasing to note that UN Food and Agriculture Organization has declared the floating vegetable cultivation system of Bangladesh as 'Globally Important Agricultural Heritage System',Muhith added.

Even the government has also allocated Taka 1,841 crore which is 1.7 per cent of the total allocation under the Annual Development Programme (ADP) for the agriculture sector in the proposed budget of 2016-17.

In 2015-16, the ADP allocation for the agricultural sector was Taka 1,824 crore, but it had come down to Taka 1,811 in the revised budget of 2015-16. 

Ministry of Agriculture will enhance the number of agricultural research programmes for promoting the production of paddy, wheat, sugarcane and other crops per hectare on priority basis, according to the medium term macroeconomic policy statement (MTMs)of the government. 

This ministry will also pay attention to produce improved seed varieties, preserve seed quality, and distribute seeds among farmers as well as will innovate, preserve and distribute higher value cash crops like -jute, kenaf, mesta, sugarcane, cotton, said the MTMs which to be implemented for the period of 2016-17 to 2018-19.

High yielding variety of potato, pulse and refined vegetables will also be innovated and distributed among the farmers to fulfill the demand for nutritious and balanced food of the citizens, it said.

Source: BSS.