The development budget for the next fiscal is likely to decline by about 15 percent compared to the current fiscal, Local Government Division Secretary Monzur Hossain said yesterday.
“The budget for the annual development (program) will tentatively be reduced to Tk 54-55 thousand crores mainly because of the scarcity of resources,” he said while addressing an advocacy seminar at Cirdap.
The budgetary allocation for the annual development programs (ADP) in the current fiscal is TK 65,870 crore.
Monzur Hossain noted that the realization of tax, VAT and various non-tax revenues has not been up to the mark and it will lead to a shortage of resources.
The advocacy seminar, ‘Budget 2014-2015: Good Governance and Rationalization of the Allocation to Local Governments’, was organized by Municipal Association of Bangladesh (MAB) with its president M Abdul Baten in the chair.
ADP budget likely to down in next fiscal