Bangladesh plans to spend most of new Tk 3.41 trillion budget on education, technology

The education and technology sector is going to get the maximum funds from the Tk 3.41 trillion national budget for 2016-17 fiscal year.

Published : 2 June 2016, 05:09 PM
Updated : 2 June 2016, 05:09 PM

Finance Minister AMA Muhith has proposed Tk 529.14 billion, or 15.53 percent of the total budget, for the sector.
The rise is 3.89 percentage points from current 2015-16 fiscal year’s allocation of Tk 343.7 billion.
Public administration is a close second in the list of sectors with most allocations.
Muhith proposed 13.9 percent of the total budget for this sector.

He plans to spend 11.7 percent of the outlay to repay interests on the government borrowings and 11 percent on transport and communication sector.
Out of the Tk 529.14 billion for education and technology, the education ministry will get Tk 268.48 billion, primary and mass education ministry Tk 221.62 billion, science and technology ministry Tk 20.69 billion, and Information and Communication Technology Division Tk 18.35 billion.
Education Minister Nurul Islam had been critical of Muhith when the allocation for the sector dropped in current fiscal year.
Several student organisations have been demanding 25 percent allocation for this sector.
Muhith, in his budget speech on Thursday, said, “In order to widen the scope of educational opportunities, we are continuing various activities like providing free books and stipend, running creative talent-hunt programme and so on.”
He also proposed Tk 5 billion as endowment fund and Tk 1 billion as one-time grant for the welfare of the non-government teachers.
In addition, he proposed to allocate Tk 500 million for the welfare of the employees of the no-government educational institutions.