Agri sector to get Tk 9,000cr subsidy
6 June 2013, 10:37 AM
UPDATED
6 June 2013, 19:58 PM
Star file photo
Finance Minister AMA Muhith has proposed allocating Tk 9,000 crore subsidy for agriculture sector in the upcoming fiscal.
In the current year, the subsidy allocation is Tk 9,500 crore, which has been increased to Tk 12,000 crore in the revised budget.
The targets of distributing agricultural credit for the 2013-14 FY has also been set Tk 14,595 crore, the minister said in his budget speech.
In FY 2012-13, a total of Tk 10,206 crore has been disbursed as agricultural credit till March 2013, which is 72.2 percent of the target. The target was Tk. 14,130 crore.
The minister also proposed allocation of Tk 12,275.98 crore for the next year's development and non-development budgets combined for the Ministry of Agriculture.
He also added that the government has taken some innovative steps in the agriculture sector including introduction of agriculture insurance, formation of agriculture marketing group and agriculture club and introduction of beet-sugar cultivation as a substitute of sugar in addition with the formulation of national agricultural policy and invention of high yielding varieties of jute.
He also hoped that these steps have further strengthened the agriculture sector.
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