The government is going to downsize the revised annual development programme (RADP) for the current fiscal year (FY16) to Tk 88000 crore from the original ADP outlay of Tk 97,000 crore due to the slow pace in implementation.
The RADP size will be 9.27 percent less compared to the original size, according to the sources at the Planning Ministry. Of the proposed total outlay of the RADP, Tk 58840 crore will be allocated from the state exchequer while the rest of Tk 29160 crore from project assistance.
But, the total outlay of RADP including that of self financed projects of autonomous bodies and corporations will be Tk 90890.26 crore. Earlier, the size of the ADP for the current fiscal year was set at Tk 100,997 crore including that of self-financed projects.
The planning ministry will hold an extension meeting on Tuesday to finalise the outlay of the revised ADP to be placed in the meeting of National Economic Council (NEC) later. As per the proposed RADP, the transport sector is going to receive the highest allocation in RADP with Tk 19,639.77 crore. Among the other big allocation receivers, Power sector will get Tk 15295.71 crore, followed by education and religious sector with Tk 9,901.74 crore. Physical planning water supply and housing sector Tk 9507.35 crore, rural development and rural institution sector Tk 8119.75 crore, agriculture sector Tk 4284.34 crore, and health, nutrition, population and family welfare Tk 5406.97 crore.
According to the Implementation Monitoring and Evaluation Division (IMED) of the planning ministry, the ADP implementation including that of self financed projects, during the first eight months (July-February) of the current fiscal year (FY16) reached only 34 percent with an overall expenditure of Tk 34,674 crore.
The implementation rate is, however, four percent less than the July-February period of the last fiscal year, when the overall expenditure was Tk 32,385 crore with 38 percent implementation rate.
Meanwhile, Finance Minister AMA Muhith in the first pre-budget meeting for the up coming fiscal year on March 3 said the implementation rate of ADP for the current fiscal was the lowest during the last seven years of the present government.
The government plans to formulate a separate budget for transformational mega projects in the next fiscal year, Finance Minister AMA Muhith said. The finance minister also said the budget size for the upcoming fiscal year will be about Tk 340,000 crore, which is 15 percent higher than the current year.
