Reliable Brokers
Online Investing
Alerts & Analysis
Easy Trading

Social security allocation to rise by 10%

Update : 28 May 2014, 08:51 PM

The social security sector is going to get nearly Tk28,000 crore in the upcoming budget, an amount that is 10% higher than the allocation in the outgoing FY2013-14.

The Social Welfare Ministry sought over Tk28,000 crore and proposed a 20% rise in the number of beneficiaries under the social security programmes.

“The government wants to see a greater number of people under the social security network. That is why we have recommended a 10% raise in all kinds of allowances,” Social Welfare minister Syed Mohsin Ali told the Dhaka Tribune last week.

Finance Minister AMA Muhith has said on several occasions that the upcoming budget might abolish the “food for work” programme.  However, he has promised a 10% hike in allowances for hermaphrodites, dalits, people belonging to the scheduled caste and the physically challenged. 

The expanded budget in the upcoming FY2014-15 is likely to be used for raising the allowances for elderly people, divorced women, the physically challenge and will also contribute to the freedom fighters’ grant.

Ministry data shows that the current number of beneficiaries is 40.7 lakh.

In the fresh national budget, due to be announced on June 5, the grant for freedom fighters is likely to rise to Tk5,000 from the existing Tk3,000; and divorced women, who used to get Tk100 per month, will now get Tk300.

At present, a total of 3 lakh physically challenged people are given a monthly allowance of Tk350 each. The next budget will increase the number of beneficiaries by 30,000 and the allowance will go up to Tk500.

The existing Tk100 maternity and divorced women allowances under the Women and Children Affair Ministry are likely to rise to Tk300 in the coming budget.

The Social Welfare Ministry has identified a total of 21 districts, which are prone to these vulnerable financial statuses. The budget proposal includes a plan for crash programmes at the beginning of the upcoming FY2014-15 to improve the standard of living of these people.

The outgoing FY2013-14 budget envisaged old-age allowance for 25 lakh people; maternity allowance for 1,500 rural women; lactation allowance for 30,000 working women in some districts; poverty allowance for nearly 10 lakh distressed widows and divorced women.

At present 22 ministries are running 97 social safety net programmes around the country.The social safety net programmes were launched in the FY1996-97 when the Awami League was in power.

Top Brokers