Investment to be raised to 30pc of GDP: Minister
The government has planned to raise investment rate to 30.32 percent of the gross domestic product to take GDP growth to 8 percent by 2013, Finance Minister AMA Muhith told parliament yesterday.
The current national budget targeted a 6 percent GDP growth for fiscal year 2009-10, which was 5.9 percent last fiscal (2008-09).
Developing infrastructure, ensuring supply of power and gas and full implementation of annual development programme (ADP) are some government plans to achieve this fiscal's targeted rise in GDP, the minister informed the House in a question-answer session.
Besides, PPP (public-private partnership) initiatives will be given a boost to up private investment and agriculture inputs and product fair price for farmers ensured.
Muhith also said in line with Vision 2021, the electoral manifesto of the present government, an 11-yearly ( from 2010 to 2021 ) programme is now under preparation, which will be placed in parliament in June specifying the possible expenditure for execution of those.
As part of implementing the vision, the poverty reduction strategy paper (PRSP) was formulated and the five-year plan (2010-2015) is being prepared, he said.
On agriculture sector, the finance minister said farmers will be given soft loans under revolving crop credit programme.
While detailing the uplift budget implementation by different ministries, Muhith said Tk 6,900.62 crore was spent for development projects up to November 2009 against the Tk 30,153 crore earning in revenue.
Pointing to around 28 percent execution of the TK 30,153 crore ADP, the minister said, “ This is the highest-ever progress in a span of five months.”
During the same period of the last financial year, 22 percent of the Tk 26,000 crore ADP could be implemented.
Responding to a query on prevention of money laundering, the minister spelt out various measures to prevent such malpractice.
These measures include, he said, establishment of a financial intelligent unit at the country's central bank, Bangladesh Bank.
The minister further informed his fellow lawmakers that Dhaka meeting of the Asia-Pacific Group of Money Laundering or APG would take place in October next.
On foreign loans and grants, he said in the first six months (July-December) of the current fiscal year, development partners provided $1,166.70 million loans and $372.13 million grants. “ A total of $ 6,000 million is in the pipeline as aid.”
Replying to another query, the finance minister said the businesspeople who were affected during the caretaker government's rule will be allowed rescheduling of their bank loans without giving down payment.
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