Ministry proposes Tk 72,000cr RADP against original size of Tk 80,314cr
The National Economic Council is likely to approve the revised annual development programme for the current fiscal year of 2014-15 at Tk 72,000 crore today downsizing the original allocation by 10.48 per cent from Tk 80,314.52 crore of the original ADP, planning ministry officials said.
Planning Commission will place the draft of the revised ADP at the NEC meeting to be presided over by prime minister Sheikh Hasina on the day for approval, they said.
The original size of the ADP for the year was Tk 80,314.52 crore excluding the allocation of own-financed Tk 5,685.48 crore for the autonomous bodies.
At a meeting held on March 3, the commission slashed the domestic allocation for the revised ADP by Tk 5,514.52 crore or 10.48 per cent to 47,100 crore.
It also cut the projection of getting funds from foreign sources in terms of loans and grants by Tk 2,800 crore or 10.11 per cent to 24,900 crore.
The original allocation in the ADP was Tk 52,614.52 crore from government funds and Tk 27,700 crore from foreign sources.
The size of revised ADP may increase by few more thousand crores if the prime minister approves the additional demand of around Tk 4,000 made by several ministries and divisions including the Local Government Division, Power Division, Education, Health and Family Welfare and Home ministries, they added.
Planning Commission finalised the draft of the revised ADP considering the overall macro-economic situation in the country, possibility of availability of resources from domestic and foreign sources and trend of expenditure of the allocation, according to the commission.
The government ADP implementing agencies could implement only 32 per cent of the total allocation, according to the Implementation, Monitoring and Evaluation Division of the ministry.
The size of the revised ADP for the current fiscal year is Tk 12,000 crore or 20 per cent than the revised ADP of the last year of Tk 60,000 crore.
The total number of projects in the revised ADP will be 1,196 including 159 new projects.
The commission has set a target of 280 development projects for completion in the current fiscal year.
Officials said that the allocation for autonomous bodies would also be cut by 50 per cent to Tk 2,841.69 crore in the revised ADP.
According to the proposal of the commission, transport sector will get the highest allocation at Tk 17,032.15 crore or 23.66 per cent of the total revised ADP followed by education and religion at 8,662.99 crore, power sector at 8,318.17 crore and rural development at Tk 7,005.05 crore.
Source: New Age
