The allocation for agriculture sector in the proposed budget of fiscal year (FY) 2019-20 has declined further.
As per the proposed budget, the allocation for the farm sector of the total budget has dropped to 2.69 per cent from 2.89 per cent in FY 2018-19, a decrease of 0.20 percentage points.
The allocation for the agriculture sector as percentage of the total budget has declined in the last few years. The allocation was 4.95 per cent in FY ’15, 4.46 percent in FY ’16, 2.75 percent in FY ’17, 2.87 percent in FY ’18.
For FY ’20, the government has allocated Tk 14,049 crore for the agriculture ministry, which was 12,788 crore in FY’ 19.
According to the data of Bangladesh Economic Statistics 2018, the contribution of agriculture (crops and vegetables) are declining to the Gross Domestic Product (GDP).
The contribution of this sector to the country’s GDP (constant price and base year FY 2005-06) fell to 7.37% in FY’18 from 7.86% in FY’17.