Education budget only 1.83% of GDP
The allocation for the education sectors in the proposed budget for the upcoming fiscal year of 2022-23 has reduced in terms of the Gross Domestic Product (GDP).
The government's proposal for the Ministry of Primary and Mass Education, Secondary and Higher Education Division, and Technical and Madrasa Education Division, was less than a third of Unesco recommendation for education sector.
Finance Minister AHM Mustafa Kamal today allocated only 1.83 percent of GDP for the education sector. The same was 2.08 percent in the current budget.
Unesco recommends spending 6 percent of GDP in the education sector.
Finance minister allocated Tk 81,449 crore for the Ministry of Primary and Mass Education, Secondary and Higher Education Division, and Technical and Madrasa Education Division, for the 2022-23 fiscal year.
He allocated Tk 31,761 crore for the primary and mass education ministry, Tk 39,961 crore for secondary and higher education division and Tk 9,727 crore for technical and madrasa education division.
The minister allocated Tk 71,954 crore for outgoing fiscal year.
The amount of 2022-23 fiscal makes up 12.01 percent of the total outlay. It was 11.91 percent of the total outlay in current budget.