The government is increasing budgetary allocation for food by 120 percent in the coming fiscal year 2008-09, the major chunk of which will be spent for providing the poor with low-price food and keeping market prices stable.
The allocation for food in FY08-09 will stand at around Tk 10,500 crore.
The allocation in FY07-08 is Tk 4,760 crore, which will be increased by 15 percent in the revised budget, reaching Tk 5,500 crore, food ministry sources said.
Although the targets of food procurement by the government and food distribution through different government channels were not fulfilled in FY07-08, the government is going to increase the allocation in the revised budget because of price increase of food grains.
The government will set a target for distributing 24 lakh tonnes of rice and wheat in the next fiscal year. Of the target, 5 lakh tonnes will be sold at open market sale (OMS) points, 5 lakh tonnes under food-for-work programmes, 2.5 lakh tonnes under vulnerable group development programmes, 3 lakh tonnes under test relief and 4 lakh tonnes under vulnerable group feeding (VGF). One lakh tonne of food will be distributed in the Chittagong Hill Tracts and tea garden areas and the rest will be kept for rations for law enforcers.
On the current fiscal year’s target of food distribution, food ministry sources said they had the target of distributing 22 lakh tonnes of food grains through different programmes. “But it is possible to distribute 15 lakh tonnes at most by the end of the fiscal year,” said a source, blaming it on limited stock.
In the first 11 months of FY07-08, the government distributed 14.34 lakh tonnes of food grains–12.17 lakh tonnes of rice and 2.17 lakh tonnes of wheat.
During the corresponding period of the previous fiscal year, 13.2 lakh tonnes of food grains–11.36 lakh tonnes rice and 1.66 lakh tonnes wheat–were distributed through different government channels.
A total of 2.65 lakh tonnes of rice was sold through OMS in the first 11 months of FY07-08 while 4.08 lakh tonnes was sold in the same period of the previous fiscal year. Food distribution under test relief also reduced with only 76,000 tonnes of food distributed in the said period of the current fiscal year against 1.14 lakh tonnes distributed in the same period of FY06-07.
Food distribution under VGF programmes was a little higher this fiscal year as 3.95 lakh tonnes of food grains was distributed against 2.30 lakh tonnes in the first 11 months of the previous fiscal year.
A senior official at the food ministry said food distribution in the current fiscal year was comparatively low because of the huge price hike of food grains that has severely affected the poor and low-income group people.
He said with a healthy food stock in place it would be possible to achieve the food distribution target in the coming fiscal year.
Food ministry data show that the government food stock was 7.56 lakh tonnes as of June 7, which was just 3 lakh tonnes on the same day last year.
Sources said the ministry has set a target of procuring 30 lakh tonnes of food grains for FY08-09, of which 14.5 lakh tonnes will be procured from local sources at a cost of Tk 4,200 crore, 13 lakh tonnes–of which 8 lakh tonnes is wheat–will be imported and the rest 2.5 lakh tonnes will come as food aid from donors.
THE BUDGET OF TK 99,962 CRORE
The total expenditure of the budget to be declared today will be Tk 99,962 crore. The amount in the current budget is Tk 79,614 crore.
Of the total budget for the next fiscal year, Tk 14,000 crore will be spent for all safety-net programmes. The existing programmes will get more allocation while a Tk 2,000 crore scheme has been taken up to create employment for 100 days a year for around 20 lakh people below poverty line, especially of the char and Monga-hit areas. These people will get Tk 100 a day.
The new budget will allocate Tk 13,500 crore as subsidies. Bangladesh Petroleum Corporation will get subsidies of Tk 6,000 crore, the fertiliser sector will receive Tk 3,200 crore, diesel Tk 550 crore, electricity Tk 500 crore, Power Development Board Tk 400 crore and Petrobangla Tk 400 crore. The government will also give subsidy for food and export sectors.
The target of total revenue collection has been set at Tk 69,382 crore.
To meet the deficit of over Tk 30,000 crore, the government plans to borrow Tk 13,500 crore from banks while the rest would come from other sources.
Categories: Bangla, Bangladesh, Bangladesh Economy, Bangladesh News, Daily Bangladesh News, Economy, News
June 23rd, 2008 at 10:16 pm
Hi, this is a interesting article. I like a food also, for this my weight 96 kgs. :( .
I want to choose these years more vegetable fooding and need more healty life. But i like
most much than meat, So if any body can know good diet programme pls. cantact with me
Best Regards . M.Y
June 30th, 2008 at 9:17 pm
Hi,interestic article, thanks for your informations. I want to add some things about for the article, first time i want to sayying; i like cooking so much and eating food. But i like more vegetable food for health an for my body. I know many special food with special things. example i can cooking 10-15 king fish food. :) who want to know more things about fish cooking i can help.
July 21st, 2008 at 12:22 pm
which food are you most like omeExploreLoginSign pAllBlogForumsReviewswhich food are you most like Try this App. The guidance states that food products from the offspring of clones from any species traditionally consumed for food are suitable to enter the food and feed supply. Those who use only organic food and suggest we’re being poisoned by “normal” food are using that argument as a smokescreen for their real pretension.