In the budget for FY2015-16 taka 31,605 crore has been allocated to education (for the Ministry of Education and the Ministry of Primary and Mass Education), which is taka 2,392 crore more than the education budget of FY2014-15. Although this is 8.2% higher than last year, given the changes in prices (inflation), the affordability of the economy and the priority in terms of sectoral share, education budget for the new year is short of expectations, observed a joint research conducted by IID and BRAC.
The research showed that if the education budget for FY2015-16 is inflation adjusted, it is only 1.5% (Tk. 436 crore) higher than the education budget for the last year. Considering GDP as a reflection of the economy’s affordability, the research also showed that if what was afforded last year on education was also offered this year (2.2% of GDP), education budget for FY2015-16 would have been Tk. 6,162 crore more than what it is in this year’s budget. At the same time, if the same sectoral share for education was maintained in the total budget (which was 11.7% in FY2014-15), education budget for FY2015-16 would have been Tk. 2,922 crore more than the allocated Tk. 31, 605 crore.
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