DHAKA: A total of Tk 19,095 crore has been allocated for agricultural in the 2014-15 FY for the development of agriculture sector of the country.

The sector includes Agriculture (Tk 12,390cr), Fishery and Animal Resources (Tk 1,344cr), Environment and Forest (Tk 911cr), Land (Tk 831cr) and Water Resources (Tk 3,619cr). 

The subsidy for agricultural sector, which includes the expenditure on fertilizer & other agricultural incentives, is Tk 9,000 crore.  

Finance Minister AMA Muhith unveiled the allocation in his budget speech for the fiscal year 2014-15 in the parliament on Thursday afternoon.

He said, “Bangladesh achieved outstanding success in agriculture sector during our last term. We are committed to continue this trend in future.”

The finance minister also said, “I firmly believe that Bangladesh will become a major exporter of agricultural products in the near future. I want to assure everyone associated with agriculture that all our policies and strategies to revitalise this sector will continue in future.”

Muhith told the House: “Agricultural research will be given highest priority as before. Like jute, steps will be taken to decode genome sequence of other cash crops. Again, research for inventing drought, salinity and water logging resistant high yielding varieties will be intensified. Special attention should be given to minimize the adverse effect of climate change while conducting agricultural research and emphasis should be laid on faster innovation of technology.”

Setting a tax revenue target Tk 182,954 crore, the minister proposed a Tk 250,506-crore annual budget outlays.

BDST: 1715 HRS, JUN 06, 2013