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Govt Allocates Tk 385 Billion for Agricultural Development

Industry: Agro

For the next three years, the government has set out Tk 385 billion for agricultural development, with the goal of seeing an average yearly increase of 10% in the industry by the fiscal year 2025–2026 (FY26). According to the ‘Medium Term Macroeconomic Policy Statement (2023-24 to 2025-26)’, this investment highlights agriculture’s critical role in securing food security and fostering equitable economic growth.

The government plans to modernize agriculture by creating high-yield, adversity-tolerant crop types, increasing irrigation and mechanization, and improving access to affordable inputs like seeds and fertilizers. The strategy includes using more surface water for irrigation, renewable energy sources, and remote sensing for crop monitoring to save resources and increase food production. The government supports sustainable agriculture through subsidies, financial incentives, and technological advancements. Fisheries and livestock contribute significantly to GDP, supporting over 12% of the population and achieving self-sufficiency in fish, meat, and egg production. The Mujib Climate Prosperity Plan aims to reduce the 6.8% GDP decline due to climate change by providing resources for vulnerable communities and sectors.

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