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ICT sees 40% increase in budget allocation
The government has proposed to allocate Tk11,641 crore for ICT sector in the next Fiscal Year 2017-18, which is around 40% higher than the previous fiscal year’s allocation of Tk8,306 crore.
The proposed allocation for the Information and Communication Technology sector accounts for 2.91% of the total budget allocated for implementation of different projects, especially infrastructural ones.
The budget allocation for ICT sector in FY’18 has increased 3.5 times over the last six fiscal years as the allocation for Fiscal year 2012-13 was Tk3,316 crore.ICT sector received allocation of Tk4,688 crore in the Fiscal Year 2013-14 while the emerging sector got Tk6,107 crore in FY’15.
The sector received Tk11,641 crore for the next fiscal year which is 0.60% of the outgoing fiscal year’s ADP. Most of the allocated money would be spent on digitisation purposes.
Of the amount, Tk9,263 crore is allocated for 122 development projects to be implemented by different ministries and government agencies.Most projects are under the ICT and telecommunication sector.
Besides the development projects, Tk1,086crore is allocated for ICT related sub-sectors, Tk1,272 crore for ICT related institutions and Tk20 crore for financing revenue budget projects.
According to the Export Promotion Bureau (EPB) data, in July-May period of the current fiscal year, Bangladesh earned$167.88 million, which is 37.50% higher compared to $122.10 million in the same period a year ago.In FY’16, Bangladesh earned $151.83 million, a 14.55% rise over its previous year’s earning of $132.554 million.
Finance Minister AMA Muhith in his budget speech said: “Information technology not only makes our life easier but also creates many opportunities to facilitate economic growth.”
“With the expansion of ICT in private sector, we are encouraging automation and e-GP processes in different areas of public sector as well.”
The minister said for utilising the digital dividends, the government has undertaken initiatives to establish ICT related institutional framework and implement policy reforms.
“ICT Parks are being set up across the country to attract domestic and foreign investments,” added Muhith.