DHAKA, March 11, 2018 (BSS)-Finance Minister Abul Maal Abdul Muhith today said the implementation rate of Annual Development Programme (ADP) is expected to reach 93 percent in the current fiscal year (FY18) as the government’s expenditures for development are very well than the previous fiscal (FY17).
“Implementation progresses of the Annual Development Plan is very well . . . the 35 per cent of the ADP has been implemented in the first six months of the current fiscal,” he told journalists after a meeting with the BCS (Customs and VAT) Association and the BCS (Taxation) Association at the finance ministry here.
For 2017-18, the government set aside Taka 1,64,085 crore for development spending, which was revised down to Taka 1,57,594 crore in a recent meeting of the National Economic Council (NEC).
Every week, Muhith said, the government holds ECNEC meeting and evaluates the implementation progress of development projects which is one of the reasons for good performance in implementation of ADP.
He said the government announced Taka 4,00,266 crore budget for the current fiscal and revised the it to Taka 3,85,000 crore. “But I think, the execution will be more than Taka 3,85,000 crore,” he added.
Responding to a question, the finance minister expressed the hope that the National Board of Revenue (NBR) will be able to fulfill the revenue collection target in the current fiscal.
“There is a shortfall in revenue collection . . . it is about 11 or 12 percent than our target but I think, the collection will go up,” he added.