TBT DESK: Despite an overall national budget increase of 4.87%, allocations for agriculture are rising by just 3%, a rate experts say is insufficient to ensure food security, sustainability, and rural development. They are urging that agriculture be allocated at least 10% of the total national budget, with 5% specifically dedicated to subsidies.
These calls came on Saturday (3 May) at a seminar titled "Budget 2025-26 for Agriculture: A Framework for Sustainable Growth" held at the Bangladesh Agricultural Research Council in Dhaka. The event was organised by the Agricultural Economists' Association.
Presided over by the Association's President, Ahsanuzzaman Lintu, the seminar featured Dr Anisuzzaman Chowdhury, Special Assistant to the Chief Adviser, as the chief guest. The keynote presentation was delivered by Professor Dr Md Mizanur Rahman of Manarat International University, with contributions from former Director General of the Department of Livestock and renowned agricultural economist Dr Jahangir Alam, among others.
Speakers highlighted a concerning trend: Bangladesh is losing 1.2% of its natural water bodies annually due to encroachment and pollution. In contrast, countries like Vietnam and China are actively protecting these resources under government initiatives. Experts urged that Bangladesh identify and conserve its wetlands as ecological reserves.
On the topic of the blue economy, they noted that the Bay of Bengal offers up to 8 million metric tonnes of fish annually, contributing around 3.5% to the GDP. However, only 0.7 million tonnes are being harvested, reflecting a severe underutilisation of marine resources.
Dr. Anisuzzaman Chowdhury noted, "Research in agriculture is growing, and the sector has seen remarkable progress. Agriculture, alongside garments and remittances, remains one of the three key pillars of our economic dynamism."
Dr Jahangir Alam criticised the current budgetary approach, stating that those preparing the agricultural budget often fail to fully assess the sector's needs. "We're concerned about food inflation, and at the heart of it is declining agricultural production," he said. "To combat inflation, we must boost output."
He further warned that price support for agricultural products is insufficient. "Farmers are feeding vegetables to cattle due to poor market returns. We need greater investment in processing and export to ensure the sector's viability."
The seminar underscored the urgent need for a more strategic and generous approach to agricultural budgeting, especially in light of growing climate challenges, global price volatility, and domestic food security concerns.