Economists for 10% budget share for agriculture

Economists have called for a significant increase in agriculture’s share of Bangladesh’s national budget, advocating for a 10 per cent allocation and a 5 per cent subsidy to bolster the sector. 

The recommendations were made at a seminar titled “Outline of Sustainable Growth in Agriculture Budget 2025-26,” hosted by the Bangladesh Agricultural Economists Association at the Bangladesh Agricultural Research Council on Saturday, May 3.

Chaired by association president Ahsanuzzaman Lintu, the event featured Chief Adviser’s Special Assistant Dr Anisuzzaman Chowdhury as the chief guest. 

Keynote speakers included Professor Dr Md Mizanur Rahman of Manarat International University and agricultural economist Dr Jahangir Alam, former Director General of the Department of Livestock.

Despite a 4.87 per cent rise in the national budget, agriculture’s allocation has grown by only 3 per cent. Speakers stressed the need for greater investment to address declining production, a key driver of food inflation. 

Dr Jahangir Alam noted, “Budget planners fail to evaluate agriculture holistically. Farmers face losses, feeding livestock without fair vegetable prices. We need more investment in processing and exports.”

The seminar highlighted environmental concerns, with 1.2 per cent of natural water bodies lost annually to encroachment and pollution. 

Experts urged reserving these as protected areas, citing successful models in Vietnam and China. On the blue economy, they noted that the Bay of Bengal yields 8 million tonnes of fish annually, contributing 3.5 per cent to GDP, yet only 0.7 million tonnes are harvested.

Dr Anisuzzaman Chowdhury praised the sector’s progress, stating, “Garments, remittances, and agriculture drive our economy. Agricultural research is advancing significantly.” The 

speakers emphasised that boosting production and protecting resources are critical to sustainable growth and economic stability.