Government Policy

Budget suggests high incentive for farm mechanization

DHAKA, June 01, 2017 (BSS) - Finance Minister AMA Muhith today prescribed as high as 70 percent incentives for mechanized agriculture in haor areas and coastlines saying if someone buys a mechanical agro device at a cost of Taka 100, the government would provide him Taka 70 in cash.

"At present, the rate of incentive for mechanized agriculture has been set at 70 per cent at Haor areas and coastal parts of Southern Bangladesh and 50 per cent elsewhere," he said presenting the proposed budget for 2017-18 fiscal at the Jatiya Sangsad Bhaban.

He said the government would continue to provide 30 percent incentives for agriculture export.

"We have achieved significant success in production of fisheries and vegetables with the aid of new technology in the agriculture sector," said the minister.

Muhith said we are providing 30 per cent cash incentives on agricultural export while a 20 per cent rebate is being provided on bills of electricity consumed by irrigation pumps."

Regarding the achievement of food production, the finance minister said though crop production in Sylhet, Sunamganj, Moulvibazar, Habiganj, Netrokona and Kishorganj districts was affected by flash floods in Last April, the target of overall food production was unlikely to be affected.

He said with the help of the decoded genome sequence of jute, forward lines of 2 varieties of Tossa Jute and one variety of white jute have been invented-these varieties are short in length and can sustain in lower temperature.

To recognize special contributions in agriculture and encourage research, every year "Bangabandhu National Agricultural Award is being conferred on persons and institutions engaged in agriculture sector, Muhith added.

Source: Bangladesh Sangbad Sangstha (BSS)