Finance ministry has proposed to allocate Tk35,374 crore for the agriculture sector (agriculture, food and fisheries and livestock) for the 2023–24 fiscal year in the national parliament.
Budget allocation for the agriculture sector was Tk33,698 crore in FY2022-23.
“We are providing fertilizer, seed and other inputs and irrigation facilities at affordable prices to increase crop production and productivity. The government is providing subsidies to the farmers for the supply of required fertilizers at affordable prices.A total of 20% rebate on electricity bills is provided for the electricity use for irrigation pumps. We have increased the cultivation of high-yielding varieties of crops. For the mechanization of the agricultural sector, we will be supplying 51,300 pieces of farm
Machinery,” said the minister in his budget speech.
Besides, 70% of the cost in the haor and coastal areas and 50% in other areas will be covered as development aid.
“Synchronized Cultivation has been introduced to prepare, transplant and harvest rice seedlings using the benefits provided by mechanization in the agricultural sector. We have taken initiatives to plant short duration rice variety instead of long duration rice variety in Boro season. Hopefully, this will help to produce approximately one ton of rice per hectare additionally.”
Besides, Bangladesh has become self-sufficient in fish production following the implementation of specific programs for the production and management of inland open water bodies, closed water bodies and extended marine water bodies. It should be noted that Bangladesh ranks 3rd in fish production in inland open reservoirs and 5th in closed reservoirs. Besides, Bangladesh ranked 8th and 11th in the production of speciality marine and coastal crustaceans and finfish respectively, said the minister.
Besides, Bangladesh is the 1st among 11 countries producing Ilish in the world; Bangladesh ranks 4th in the world and 3rd in Asia in Tilapia production.
AHM Mustafa Kamal unveiled a proposed budget of Tk761,785 crore for the 2023–24 fiscal year in the national parliament on Thursday.
