Economic Reporter :
Total spending in the first quarter of fiscal 2016-17 stood at Tk 42,894 crore or 15.5 percent higher than the corresponding period after full implementation of the pay scale for government staff and various non-government educational institutions.
The report, which provided the up-to-date picture of budget implementation and the economy, was presented in parliament recently by Finance Minister AMA Muhith.
In fiscal 2016-17 the new payscale along with allowances was implemented in full, said a finance ministry official. Besides, the salary scale for non-government school, college and madrasa teachers came into effect this year.
“For this reason, there has been a big jump in non-development spending,” he added.
Non-development expenditure shot up 19.35 percent to Tk 35,325 crore in the first quarter of the fiscal year. In contrast, a year earlier, non-development spending was 0.32 percent lower than the previous year.
This fiscal year, a big development budget was sanctioned — Tk 110,700 crore — but the implementation capacity of the ministries and divisions did not increase much.
In the first quarter, the ministries and divisions spent Tk 7,569 crore, up 0.42 percent from a year earlier.
“A big challenge to meeting this fiscal year’s growth target is successful implementation of the annual development programme,” Muhith said in parliament.
To accelerate the rate of project realisation, stress has been given on coordination among the Economic Relations Division, donor agencies and the ministries and divisions implementing the projects, he said.
Regular monitoring of the progress of the big projects would also be done. Among the ten large ministries and divisions, the bridges division spent the highest in the first quarter — 19.51 percent of its full-year allocation.
The education ministry came in next at 18.74 percent, followed by home ministry at 18.33 percent, primary and mass education 14.82 percent, health ministry 13.75 percent and power division 11.07 percent. The local government division managed to spend only 5.55 percent of its allocation in the first quarter, railways ministry 4.73 percent, agriculture ministry 6.93 and road division 6.41 percent.
The government’s revenue earning performance also improved in the first three months of fiscal 2016-17 thanks to strong efforts by the National Board of Revenue.
Total spending in the first quarter of fiscal 2016-17 stood at Tk 42,894 crore or 15.5 percent higher than the corresponding period after full implementation of the pay scale for government staff and various non-government educational institutions.
The report, which provided the up-to-date picture of budget implementation and the economy, was presented in parliament recently by Finance Minister AMA Muhith.
In fiscal 2016-17 the new payscale along with allowances was implemented in full, said a finance ministry official. Besides, the salary scale for non-government school, college and madrasa teachers came into effect this year.
“For this reason, there has been a big jump in non-development spending,” he added.
Non-development expenditure shot up 19.35 percent to Tk 35,325 crore in the first quarter of the fiscal year. In contrast, a year earlier, non-development spending was 0.32 percent lower than the previous year.
This fiscal year, a big development budget was sanctioned — Tk 110,700 crore — but the implementation capacity of the ministries and divisions did not increase much.
In the first quarter, the ministries and divisions spent Tk 7,569 crore, up 0.42 percent from a year earlier.
“A big challenge to meeting this fiscal year’s growth target is successful implementation of the annual development programme,” Muhith said in parliament.
To accelerate the rate of project realisation, stress has been given on coordination among the Economic Relations Division, donor agencies and the ministries and divisions implementing the projects, he said.
Regular monitoring of the progress of the big projects would also be done. Among the ten large ministries and divisions, the bridges division spent the highest in the first quarter — 19.51 percent of its full-year allocation.
The education ministry came in next at 18.74 percent, followed by home ministry at 18.33 percent, primary and mass education 14.82 percent, health ministry 13.75 percent and power division 11.07 percent. The local government division managed to spend only 5.55 percent of its allocation in the first quarter, railways ministry 4.73 percent, agriculture ministry 6.93 and road division 6.41 percent.
The government’s revenue earning performance also improved in the first three months of fiscal 2016-17 thanks to strong efforts by the National Board of Revenue.
