Budget FY26: Govt proposes Tk 2bn for blue economy research

The allocation aims at harnessing the potential of the blue economy through fundamental scientific research, the finance advisor says

The proposed Tk 7.9 trillion budget for the fiscal year 2025-26 includes a plan to allocate Tk 2 billion for research to harness the potential of the blue economy.

In his budget speech on Monday, Finance Advisor Salehuddin Ahmed stressed the importance of “encouraging and inspiring scientific research and development in the country, particularly in the fields of science and technology”.

To this end, he noted that in the fiscal year 2024-25, special research grants of approximately Tk 166.6 million have been provided for 492 projects across various universities.

The advisor said, “I propose an allocation of Tk 2 billion for research activities aimed at exploring the potential of the blue economy through fundamental scientific research and the sustainable extraction and management of marine resources in the upcoming fiscal year, considering the importance of scientific research for reaching the highest level of development.”

Following the resolution of maritime disputes with India and Myanmar through international court rulings, Bangladesh gained ownership of a “designated area” linked to the Bay of Bengal.

In 2011, the country’s maritime boundary with Myanmar was determined by the ITLOS (International Tribunal for the Law of the Sea) ruling, and in 2014 with India through the International Court of Arbitration’s decision.

As a result, Bangladesh has sovereign rights over more than 118,813 square kilometres of territorial sea, an exclusive economic zone extending 200 nautical miles, and all living and non-living resources on and under the seabed up to 354 nautical miles from the Chattogram coast.

The government’s policy to extract and utilise these vast resources of the sea and seabed is referred to as the “blue economy” or marine resource-based economy.