June 24, 2024, 2:37 am

 FHM Humayan Kabir

2024-05-15 10:00:18 BdST

Tk 2.65t ADP awaits seal

A Tk 2.65-trillion development budget for the next fiscal year awaits the seal of approval from government's highest economic-policy body in its meeting tomorrow (Thursday), with cautiously crafted spending recipe.

Transport and communications sector is in the line of recipients to grab the highest slice of funds from the Annual Development Programme (ADP) 2024-25, officials said Tuesday.

In the new ADP, a total of 1,337 projects along with 60 fresh ones are up to get allocations for implementation, they said.

The National Economic Council (NEC), headed by Prime Minister Sheikh Hasina, will sit for a meeting tomorrow with the sole agendum of endorsing the proposed ADP complementary with the nation's annual budget.

Meanwhile, the Planning Commission (PC) last week drafted the Tk 2.65-trillion ADP with a minimal 0.76-percent increase from the original Tk 2.63 trillion ADP and 8.16-percent up from the Tk 2.45 trillion worth of revised ADP (RADP) for the outgoing fiscal (FY2024).

The PC in a meeting of its extended committee, headed by the Planning Minister, last week approved the development programme for the upcoming fiscal. Also proposed is a Tk 132.86- billion allocation for the autonomous and semi-autonomous public agencies in the ADP.

"We've already finalised the ADP. Now we will place it before the NEC meeting, to be held Thursday, for getting approval," said a senior PC official on Tuesday.

Out of the proposed ADP outlay, some Tk 1.65 trillion has been proposed from government's internal resources while Tk 1.0 trillion from external resources as project aid.

A total of 1,277 ongoing projects from the current FY2024 ADP will be carried over into the next, while 60 fresh projects will be added with fund allocations.

Like in previous years, the transport and communications sector is also going to get the highest chunk of Tk 706.88 billion as allocations, 26.67 per cent of the total new ADP outlay.

Power and energy sector stands second while education sector third and housing and community sector fourth in position of takeaways the development budget.

ADP is part of the national budget under which the government implements development projects every year for facilitating economic advances of the country.

Another PC official said they had set aside Tk 99.58 billion as block allocation in the upcoming ADP, including a Tk63.28 billion for catering 'special development needs'.

Unauthorized use or reproduction of The Finance Today content for commercial purposes is strictly prohibited.

Popular Article from Economy