Budget 2022-23: Priorities on restraining inflation, agriculture, human development, boosting export and investment

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Published on June 10, 2022
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The government has considered top five priorities while preparing the budget for FY2022-23, Finance Minister AHM Mustafa Kamal told the parliament today while placing budget.

"In preparing the budget for the next fiscal year, top priority has been given to containing inflation stemming from the fallout of the COVID-19 pandemic since the beginning of 2020 and the Russia-Ukraine crisis. Agriculture is our second highest priority sector because of its importance in ensuring food security. Our priority in agriculture research and expansion service, farm mechanization, irrigation and seed, agricultural subsidies including fertilizer subsidy will continue in the next fiscal year to accelerate the progress that has been made in the agricultural sector over the past few years," the minister said.

He further said, "Our third priority sector is human resource development including health, education and skills development. We will continue to allocate for the development of human resources including health, education and skills development with a view to building a better Bangladesh by 2041. The fourth priority is to boost domestic investment, increase exports and promote export diversification."

"Our fifth priority sector is job creation and rural development. In addition, tackling the effects of climate change will be one of our priorities. Committed to always standing by low-income people, this government will continue to expand its coverage of social security. We have plans to distribute low-cost and even free food to low-income people. The successful implementation of the incentive package announced by the Hon'ble Prime Minister to address the COVID-19 pandemic in the forthcoming budget will be considered as one of the priority areas of our government," he added.

The finance minister has placed Tk6,78,064 crore national budget for FY23 at Jatiya Sangsad according top priority to safeguarding marginal people from inflation fuelled by the Russia-Ukraine conflict.

This is the fourth budget of the third consecutive term of the government led by Prime Minister Sheikh Hasina and also the overall 51st budget of the country.

The proposed budget is Tk74,383 crore higher than the original budget size of the FY2021-22 fiscal year, which was Tk6,03,681 crore.