Tk 266 crore allocation increased for agriculture, food security

The allocation for agriculture, food security and fisheries and livestock sector has been increased by 1 percent in the proposed budget of 2021-22 fiscal year from the previous year.

Finance Minister AHM Mustafa Kamal today proposed allocation of Tk 24,948 crore for this sector, which was Tk 24,682 crore in 2020-21 FY.

This allocation is around 4 percent of the total Tk 603,681 crore proposed budget placed in the parliament today.

In his budget speech, Minister Kamal said the main objective of the government is to establish a self-sufficient and sustainable agricultural system by increasing production of crops, and modernising the marketing system through innovation and transfer of appropriate technology and crop varieties.

"We will continue the ongoing intervention, such as agricultural subsidies, incentive and assistance cards for agricultural inputs including fertilisers and seeds, irrigation facilities, crop diversification and marketing, and agricultural rehabilitation assistance to enhance agricultural production," he said.