The public authority endorses a Tk 2.63 trillion Annual Development Program (ADP) for the following financial year of 2023-24 (FY24) – 11.18% higher than the ongoing one.

It will probably underwrite one more Tk 116.74 billion asset allotment for the state-possessed independent and semi-independent bodies in the ADP for FY24.

The ADP is expected to be approved by the National Economic Council (NEC) at a meeting that Prime Minister Sheikh Hasina will lead, reported the Financial Express.

The Commission says that the ADP expenditure of Tk 2.63 trillion will be 11.18% higher than the revised ADP expenditure of Tk 2.36 trillion and 6.91% higher than the initial ADP expenditure of Tk 2.46 trillion for the current fiscal year.

The ADP is a component of the national budget under which nearly 2,000 development projects are implemented annually by the government to support the nation’s economic expansion.

According to a high government official, of the Tk 2.63 trillion ADP expenditure that is being proposed, approximately Tk 1.69 trillion will come from the government’s resources, and the remaining Tk 940 billion will come from external sources as project aid.

He said the NEC would support a Tk 116.74 billion asset for the independent and semi-independent bodies in the following ADP.
The ADP for the upcoming fiscal year will total Tk 2.74 trillion if the allocation of corporations and autonomous bodies is taken into consideration.

The transportation and communications sector will receive a significant allocation of Tk 759.45 billion, or 28.88 % of the total ADP expenditure for the following fiscal year.

The power and energy industry will receive the second-highest fund, Tk 443.93 billion, or 16.88 %. The schooling area will probably get the third most elevated Tk 298.89 billion and the lodging and local area offices Tk 270.46 billion portions in the forthcoming ADP.

The Arranging Commission official said they had saved Tk 80.87 billion, including Tk 46.97 billion for the extraordinary improvement needs, as a block portion in the impending ADP.