Budget FY 24-25: Tk38,259cr allocated to agriculture sector

In the proposed budget for the 2024-25 financial year, an allocation of Tk 38,259 crore has been earmarked for the agriculture sector.

In the current fiscal year, the allocation for the agriculture, food, fisheries and livestock sector was Tk 35,880 crore. As such, the allocation for the sector is increasing by Tk 2,279 crore in the proposed budget.

Finance Minister Abul Hasan Mahmud Ali, in his budget speech at the Jatiya Sangsad on Thursday (June 6), said that subsidies to encourage agricultural production have continued and will continue in the near future. Mechanisation is being encouraged to increase agricultural production along with subsidy on fertilisers.

The Finance Minister said, “In order to ensure food for all and to protect the low-income people from the pressure of inflation, 50 lakh low-income families are being distributed 30 kg of rice per month during the five months of workless period through the food friendly programme.”

“Besides, in order to stabilise the market price of daily necessities, rice, dal, oil, etc. are being supplied at affordable prices to about 1 crore low-income families in Bangladesh through TCB's family card. In order to prevent food wastage and ensure food security, the capacity of food warehouse has been increased to 21.86 lakh MT and will be increased to 29 lakh MT in the next financial year,” he added.