The Finance Ministry has highlighted the crucial need for a balanced approach to budgetary allocations between recurrent and capital expenditure, recognizing their collective impact on the country's growth prospects and social welfare. This perspective is outlined in the ministry's document, the 'Medium Term Macroeconomic Policy Statement (2023-24 to 2025-26)', which underscores the different priorities of developed and developing nations in terms of government spending. Developed countries often prioritize transfers and subsidies, whereas developing economies are more inclined towards investing in social and community services. Despite the positive outcomes from income transfers in enhancing citizens' lives, there is a pressing need to ramp up capital expenditure to cater to the increasing public investment demands and foster the creation of productive assets. Budgetary classifications broadly categorize government spending into recurrent and capital expenditures. Recurrent expenditure encompasses wages, goods and services purchases, subsidies, transfer payments, and interest on loans. In contrast, capital expenditure is directed towards building and enhancing productive assets, including developments under the Annual Development Program (ADP) and non-ADP initiatives. Sikder Group responds to allegations following ACC case against directors The trend in capital expenditure, representing a portion of the total expenditure, has seen an upward trajectory, albeit with fluctuations, while recurrent expenditure has shown a gradual decrease. The revised budget for the fiscal year 2022-23 allocated 59.1 percent to recurrent expenditures, with projections indicating a slight reduction over the next three years. Meanwhile, capital expenditure is set to rise from 40.9 percent in the 2022-23 fiscal year to 41.3 percent by 2026, reflecting an ongoing commitment to bolstering public investment. The increase in recurrent expenditure from 56.7 percent in FY 2017-18 to 59.4 percent in FY 2021-22 was influenced by various stimulus packages introduced to support vulnerable groups during the combined challenges of the COVID pandemic and the Russia-Ukraine conflict. Conversely, capital expenditure through the ADP, a critical component of the budget, has experienced modest growth from 4.5 percent of GDP in FY18 to an estimated 5.1 percent of GDP in FY 2022-23. This strategic focus on balancing recurrent and capital expenditures aligns with the government's objectives to drive sustainable economic growth while ensuring the welfare of its citizens through prudent fiscal management. Eid holiday: Trade activities through Benapole port to be suspended for 5 days

At 91, a yogurt seller from Chapainawabganj’s Bholahat upazila, Ziaul Haque, may have missed out on formal education himself, but he has been a beacon of learning for hundreds in his community. Living in Chamamusribhuja village, Ziaul has dedicated his life to social welfare, significantly impacting the lives of those around him through education and various community services. In recognition of his lifelong commitment to bettering the lives of others, Ziaul was awarded the ‘Ekushey Padak,’ the country’s second-highest civilian honor, this year in the social service category. A testament to his dedication, Ziaul has been a familiar face in his community, selling yogurt for over six decades. Read: BSCIC officials’ training on salt iodization underway in Cox’s Bazar The Cultural Affairs Ministry announced the award on February 13, placing Ziaul in the esteemed company of other notable awardees. His contributions have previously earned him accolades, including the ‘Shada Moner Manush’ award in 2006. Upon receiving the news, an elated Ziaul expressed his joy and humility, seeing the recognition as a motivation to continue his social work. Despite the challenges of poverty that cut his own educational journey short after class five, Ziaul turned his circumstances into a mission to support the educational aspirations of others in his community. He has been particularly supportive of financially disadvantaged but talented students, offering books and academic materials funded by his yogurt sales. In 1969, Ziaul established a home library now boasting around 14,000 books, from novels to educational texts, which he offers free to local students. His generosity extends beyond education; he has provided housing for the homeless, dug wells for clean drinking water, and donated winter clothing and Qurans to madrasa students. Reflecting on his contributions, Ziaul finds deep satisfaction in the educational opportunities he has been able to provide, valuing the progress of local children over his own educational setbacks. His efforts have kept many children in school, a legacy he is proud to leave behind. Read: Scholastic student wins global coding competition Ziaul's family, along with the entire district, celebrates this well-deserved recognition. Local journalist Rubel Ahmed and many others in Bholahat commend Ziaul’s spirit and integrity, acknowledging the profound impact of his library and philanthropy on the community’s youth and educators alike. Ziaul Haque’s story is a powerful reminder of the difference one individual can make in the lives of many.