FE Today Logo

Allocation for farm sector drops

FE Report | June 08, 2018 00:00:00


The allocation for the agriculture sector in the proposed budget for fiscal year (FY) 2018-19 has declined further.

As per the proposed budget, the allocation for the farm sector has dropped to 2.99 per cent from 3.40 per cent in FY 2017-18, a decrease of 0.41 per cent.

The allocation was 6.39 per cent in FY '14 while 4.95 per cent in FY '15, 4.47 per cent in FY '16 and 3.78 per cent in FY '17.

For FY '19, the government has allocated Tk 139 billion for the agriculture ministry.

According to the Ministry of Agriculture (MoA) data, the contribution of the sector to the Gross Domestic Product (GDP) has also been declining.

The sector's contribution to the country's GDP (constant price and base year FY 2005-06) came down to 14.11 per cent in FY '18 from 14.72 per cent in FY '17.

The growth of the sub-sector (crops and vegetables) was less than 1.0 per cent in the outgoing fiscal year in terms of the GDP.

Expressing their concern, experts said expenditure on the farm sector should be raised for the sake of food security.

Professorial Fellow at Bangladesh Institute of Development Studies (BIDS) Md Asaduzzaman said the crop sector saw its growth rate declining due to two spells of floods last year.

Floods caused severe damage to paddy and the production of vegetables also affected.

The government had to import 3.95 million tonnes of rice worth US$ 1.6 billion this fiscal year due to a plunge in its production, he said.

"Output in the current Boro season is good, but the farmers are not getting even their production costs."

The farmers should receive more compensation this fiscal year as they lost everything to the two spell of floods.

Mr. Asaduzzaman said the allocation farmers should be increased to help ensure food security in the country.

Centre for Policy Dialogue (CPD) director (research) Khandoker Golam Moazzem said more than 2.5 million farmers switched to other professions from agriculture in the last five years, finding it non-profitable.

Both subsidy and allocation for the agriculture sector have been declining in terms of the country's GDP and total budget, he said.

The government should raise the allocation for farmers to encourage them to stick to agriculture, he added.

He said the fisheries and livestock sector showed better performance in the last few years.

The government should also provide incentives to fisheries, poultry and cattle farmers to boost output, he added.

tonmoy.wardad@gmail.com


Share if you like



COMPANY YCP HIGH LOW CLOSE %CHG
PARAMOUNT 17.0 18.7 16.7 18.7 10%
GLOBALINS 12.8 14.0 12.7 14.0 9.375%
MEGHNACEM 91.1 99.9 92.1 98.1 7.6839%
PROVATIINS 16.4 17.7 16.5 17.5 6.7073%
PURABIGEN 12.4 13.5 12.5 13.2 6.4516%
ASIAINS 16.7 17.7 17.0 17.6 5.3892%
KARNAPHULI 15.0 15.9 15.0 15.8 5.3333%
REPUBLIC 25.1 27.2 25.3 26.4 5.1793%
MIDASFIN 23.1 24.4 23.3 24.2 4.7619%
PRIMEINSUR 12.7 13.6 12.9 13.3 4.7244%
COMPANY YCP HIGH LOW CLOSE %CHG
GLOBALINS 14.0 14.0 12.7 12.7 10.2362%
PARAMOUNT 18.7 18.7 16.7 17.0 10%
GREENDELT 58.9 59.0 52.5 54.0 9.0741%
PURABIGEN 13.3 13.5 12.5 12.5 6.4%
PROVATIINS 17.4 17.7 16.5 16.5 5.4545%
MEGHNACEM 97.0 99.9 92.1 92.1 5.3203%
IFIC1STMF 4.2 4.2 4.0 4.0 5%
POPULAR1MF 4.2 4.2 4.0 4.0 5%
DAFODILCOM 34.9 35.1 33.3 33.3 4.8048%
FASFIN 13.5 13.6 12.8 12.9 4.6512%
COMPANY YCP HIGH LOW CLOSE %CHG
ALLTEX 14.0 14.4 12.6 12.6 -10%
AL-HAJTEX 98.2 105.3 88.4 88.4 -9.9796%
ISNLTD 31.5 28.4 28.4 28.4 -9.8413%
CAPMIBBLMF 11.5 11.6 10.4 10.4 -9.5652%
JUTESPINN 148.4 152.9 133.6 134.6 -9.2992%
KEYACOSMET 7.6 7.3 6.8 6.9 -9.2105%
KTL 29.7 30.2 26.8 27.0 -9.0909%
MLDYEING 39.6 40.3 35.8 36.2 -8.5859%
IBP 36.9 37.0 33.5 33.8 -8.4011%
GQBALLPEN 82.5 84.5 75.0 76.1 -7.7576%
COMPANY YCP HIGH LOW CLOSE %CHG
AL-HAJTEX 88.4 105.3 88.4 101.3 -12.7345%
ALLTEX 12.6 14.4 12.6 14.4 -12.5%
GQBALLPEN 75.0 84.5 75.0 84.4 -11.1374%
CAPMIBBLMF 10.4 11.6 10.4 11.6 -10.3448%
JUTESPINN 133.6 152.9 133.6 149.0 -10.3356%
KTL 27.0 30.2 26.8 29.9 -9.699%
MLDYEING 36.2 40.3 35.8 39.7 -8.8161%
IBP 33.9 37.0 33.5 37.0 -8.3784%
PRIMELIFE 53.8 59.7 53.8 58.0 -7.2414%
ARAMIT 431.1 463.0 429.0 463.0 -6.8898%