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The government is going to present research and development as the focal point of the new budget to move the country forward with the fourth industrial revolution (4IR) in mind. Therefore, Finance Minister Abul Hasan Mahmud Ali has repeatedly emphasised research and development in his budget speech.
The minister will present the budget in the June 6 session of the National Parliament.
This information has been obtained from multiple sources within the Ministry of Finance. The sources further confirmed that the government will prioritise education, health, agriculture, and the fourth industrial revolution in the upcoming budget.
Additionally, ideas regarding the blue economy are also noted to be included.
An official from the finance ministry confirmed to The Business Post, “There is no alternative to human resource development to ensure the 4IR. Therefore, the government is emphasising research and development in the upcoming budget.
The official added, “Agriculture is being prioritised as usual to ensure food security. Ensuring food security will reduce dependency on other countries and provide comfort regarding reserves.”
Sources at the finance ministry have confirmed that the Prime Minister has ordered plans to emphasise research and development. Therefore, various aspects of research and development will be mentioned in the upcoming budget speech.
Although this topic was not emphasised in previous budgets, the fourth industrial revolution, employment and skills development, and food security will be repeatedly addressed in the budget speech.
Protection will be provided through social safety nets to control inflation. The number of beneficiaries will be increased in such areas. There will be no extra initiatives to accelerate GDP growth in the upcoming budget.
The FY25 budget is alleged to allocate Tk 100 crore to the health sector. However, relevant parties have been asked to identify various sectors to increase the allocation.
