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Budget FY 24: Social safety net allocation to rise 11pc

News Desk |
Update: 2023-06-01 17:15:16
Budget FY 24: Social safety net allocation to rise 11pc

Finance Minister AHM Mustafa Kamal while placing the national budget today (May 1) proposed increasing the social safety net programme allocation by 11 percent  year-on-year for fiscal year (FY) 2023-24.

He recommended allocating a total of Tk 126,272 crore, up from the current fiscal year's Tk 113,576 crore.

"Budget allocation in the social sector experienced a nine-fold increase from Tk 13,845 crore in FY2009-10 to Tk 1,26,272 crore in FY2023-24," he said.

The minister said this while placing over Tk 7.61 lakh crore proposed 
national budget for FY23-24 at Jatiya Sangsad in the city.

The proposed allocation is 16.58 per cent of the total budget and 2.52 per cent of the gross domestic product.

Kamal proposed increasing the monthly allowance for the elderly by Tk 100 to Tk 600 and for widowed, deserted and destitute women by Tk 50 to Tk 550.

The number of beneficiaries in both categories has been increased by one lakh, taking the total to 58.01 lakh and 25.75 lakh respectively.

Though, the monthly allowance for physically challenged people has been kept the same at Taka 850, the number of beneficiaries has been proposed to be increased by 5.35 lakh to 29 lakh.

BDST: 1715 HRS, JUN 01, 2023

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