The government is set to cut the Annual Development Programme (ADP) by over a tenth due to a number of reasons including political turmoil.
The National Economic Council (NEC) is likely to approve Tk 72,000 crore for a revised development programme in Tuesday’s meeting for 2014-15 fiscal with a 10.35 percent cut. The original outlay was Tk 80,314.52 crore.
The proposed development was approved at an extended meeting of the Planning Commission on March 3 at the NEC with Planning Minister AHM Mustafa Kamal in the chair.
“The ADP is always downsized for various reasons. This time political turmoil is partly responsible as it is hampering implementation,” said an official.
However, even the reduced development programme outlay shows a 20 percent growth over last year’s Tk 60,000 crore.
The total number of projects is also likely to rise to 1,197.
The proposed outlay includes 612 new unapproved projects and 360 that will only get allocation upon availability of foreign assistance.
In the first seven months (July-January) of the fiscal year, around 32 percent of the ADP allocation was spent amounting to Tk 25,858 crore compared to 33 percent (Tk 21,857 crore) during the same period last year.