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Jahangir Alam

  • Wed, 4 Oct 23
Austerity Budget 2024-25
Austerity Budget 2024-25

Economics

Sun, 9 Jun 24

Austerity Budget 2024-25

With a commitment to building a happy, prosperous, advanced, and Smart Bangladesh, Finance Minister Abul Hasan Mahmood Ali has presented the new budget for the fiscal year 2024-25 in the parliament. This is his first budget, the 25th budget of the Awami League government, and the 54th budget of Bangladesh. It is also the 21st budget under Prime Minister Sheikh Hasina. The size of the budget has increased rapidly during this government's tenure. In the fiscal year 2009-10, the total budget was BDT 1,10,523 crore. After 15 years, in the fiscal year 2024-25, it has increased by 621.12% to BDT 7,97,000 crore. The proposed new budget is 4.62% higher than the original budget of the current fiscal year and 11.56% higher than the revised budget. The size of this budget is 14.20% of GDP. The original budget size for the current fiscal year was BDT 7,61,785 crore, which was 15.21% of GDP. The size of the first budget after independence was BDT 786 crore. The proposed new budget is 1,014 times higher than that budget.

Give highest priority to agriculture in budget
Give highest priority to agriculture in budget.

Economics

Wed, 29 May 24

Give highest priority to agriculture in budget

In recent years, Bangladesh has made significant economic progress across various sectors, with agriculture being the most visibly advanced. Previously, Bangladesh was a country with a food deficit, importing an average of 15 to 20 lakh tons of food annually. During the Liberation War, agricultural production was severely disrupted, resulting in a food deficit of 30 lakh tons in 1971-72, which was about 30% of the total production. Currently, the deficit has decreased to below 15%.

Essential: Boost meat production, slash unit costs
Essential: Boost meat production, slash unit costs

Article

Fri, 17 May 24

Essential: Boost meat production, slash unit costs

Ahead lies Eid-ul-Adha (the festival of sacrifice), with its main ritual of animal sacrifice. In Bangladesh, almost half of the total yearly animal sacrifices occur during Eid-ul-Adha. Last year, 141,812 animals were sacrificed, including 4.581 million cattle, 107,875 buffaloes, 5.352 million goats and sheep, and the rest 877 other animals (such as camels, deer, etc.). This year, around 1 crore and 30 lakh animals are prepared for sacrifice. With an assumed 10% annual increase in demand, the demand for animals might reach 1 crore and 10 lakh this time, with an expected surplus of around 20 lakh animals. Due to the recent pandemic and economic instability, the demand for sacrificial animals has been relatively low for the past three years, resulting in unsold animals. However, there might be a slight increase in demand this time. Nevertheless, due to recent price fluctuations and increased production costs, the price of animals may rise. If animal sales decrease, farmers will suffer losses. In such circumstances, it is advisable to completely stop importing both formal and informal sacrificial animals.

Ample rice supply, yet soaring prices!
Ample rice supply, yet soaring prices!

Article

Mon, 29 Jan 24

Ample rice supply, yet soaring prices!

The rice market has been unstable for quite some time. Before the national elections, the prices had slightly decreased, but after the elections, rice prices are on the rise again. Currently, coarse varieties like Swarna and China are being sold at Tk 54 to Tk 56 per kilogram. The medium-grade Brridhan-29 is available at prices ranging from 58 to 60 Taka per kilogram. The popular Miniket rice, known for its small grains, is being sold at Tk 70 to Tk 75 per kilogram. In contrast, in the Nazirshail market, Miniket rice is being sold at a higher price, ranging from 70 to 80 Taka per kilogram. Aromatic varieties such as Kataribhog and other scented rice have even higher prices.

Silent Revolution in Agriculture
Silent Revolution in Agriculture

Others

Sat, 13 Jan 24

Silent Revolution in Agriculture

The English equivalent of the Bengali word "Krishi" is "agriculture." The word is derived from the Latin words azero and cultura. Its literal meaning is tillage while the Bengali word is agriculture. According to the literal meaning, the cultivation of crops and tree planting are directly included in agricultural activities. Animal husbandry and fish farming are closely related to this. Therefore, by agriculture sector we understand crops, fisheries, forestry and livestock sub-sectors together.

Why is the onion market repeatedly unstable?
Why is the onion market repeatedly unstable?

Article

Mon, 18 Dec 23

Why is the onion market repeatedly unstable?

The onion market in Bangladesh is unstable. The price of onions has increased gradually. Now it has started to decrease again. Last Thursday, December 9, India announced the ban on onion exports. The office of the Director General of Foreign Trade in India announced this ban to keep domestic onion prices stable. Since then, the onion price has increased by leaps and bounds in the Bangladeshi market. Earlier in March this year, onion was sold at Tk 30 to Tk 35 per kilogram. However, the price of onions started increasing last April. At the beginning of June, the price of onion per kg reached Tk 100. After that, the government of Bangladesh allowed the import of onion into the country from June 5.