Climate-related allocation decreases slightly in budget FY2024
Finance Minister AHM Mustafa Kamal today proposed Tk37,052 crore as a climate-related allocation in the budget for the 2023-24 fiscal year. The allocation accounted for 0.74% of the GDP in the upcoming fiscal.
This is the sixth climate budget prepared for 25 related ministries and divisions overseeing environment, forest, climate change, agriculture, disaster management, food, fisheries and livestock.
The proposed allocation decreased slightly by Tk167.23 crore compared to the revised budget for the 2022-23 fiscal, according to the budget document.
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This year, the budget highlights the financing requirements for 34 climate-relevant projects included in Bangladesh Delta Plan 2100.
The proposed allocation accounts for 54.09% of the total budget of the 25 ministries and divisions, while 9% is specifically for climate-relevant expenditures.
Compared to the revised climate budget for 2022-23 fiscal, the allocation in the 2023-24 fiscal is Tk5,643 crore more than the main climate-relevant budget allocation in fiscal 2022-23.
The climate-relevant allocation for the operational budget and the development budget has increased from 6.8% and 9.83% in fiscal 2019-20 to 7.04% and 10.84% respectively in fiscal 2023-24.
