Safety net spending to be higher

The budgetary allocation for safety net programmes would see a major uptick in the next fiscal year as the government looks to widen the number of beneficiaries struggling to make ends meet because of the coronavirus outbreak.

Finance Minister AHM Mustafa Kamal may set aside Tk 125,000 crore — up more than 68 percent from Tk 74,367 crore in the current fiscal year — for various safety net programmes while unveiling the budget for fiscal year 2020-21 on June 11, said a finance ministry official.

The allocation would be three percent of the gross domestic product (GDP), up from 2.58 percent in FY 2019-20.

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