Jagannath University, Dhaka

Department of Finance

Assignment On

Annual Development Plan (ADP)

(An analysis of positive and negative aspects in the economy of Bangladesh)

Course Title

Public Finance

Course Code

Fin – 4102

Date of Submission

May 30, 2013

Thesis and Anti Thesis

Annual Development Plan (ADP)

Submitted To Submitted By

MD. HASHIBUL HASSAN GROUP NAME: NEMESIS

LECTURER GROUP NO. 06

DEPT. OF FINANCE 4TH BATCH

JAGANNATH UNIVERSITY 4TH YEAR 1ST SEMESTER

JAGANNATH UNIVERSITY

Group Name: Nemesis

Group Member: 10

Here we are…

Anti Thesis Group I.D No. Thesis Group I.D No.

Ajmir Hossain 091560 Arif Ahmed 105320

Md.Nazrul Islam 091506 Md. Faruk Hossain 105290

Mahe Alam 105273 Habib Akond 105267

Shahed Miah 091517 Md.Rashidun Nabi 105330

Selim Azhar 105272 Md.Robiul Hossain 091555

Letter of Transmittal

May 30, 2013

To

Md. Hashibul Hassan

Lecturer

Department of Finance

Jagannath University, Dhaka

Subject: Submission of Assignment

Dear Sir,

We are very pleased to submit the assignment on “Annual Development Program (ADP) - its positive and negative aspects in the economy”. We were assigned to prepare and submit this assignment as the partial fulfillment of the course entitled Public Finance (Course Code: Fin 4102).

Although it is really difficult to describe the positive and negative aspects of ADP in brief, we tried real hard to highlight every crucial factor.

We will be obliged, if you kindly accept this assignment. We are ready to make you clear regarding any confusion or further clarification from this assignment.

Sincerely yours

Group no. 06

Table of Contents

Topic Page No.

Executive Summary 06

Positive Aspects 07-11

Introduction 07

Main Discussion 08-11

Negative Aspects 12-16

Introduction 12

Main Discussion 13-16

Conclusion 17

Bibliography 18

Annexure 19-20

Executive Summary

The planning commission formulates the annual development program (ADP) of the government in the

light of basic objectives and goals stated in a five year plan. ADP is a well arranged list of projects in

various sectors and disburses them for a year out of a five year plan period for implementation of

government’s development projects and plans. In every year government prepare and announces the

amount of ADP in the budget session.

ADP (Annual Development Program) is the most important issue for budget of the country. Actually, it

works with the development of different sectors in the country. Annual Development Program is the

most important aspect in the government’s fiscal Policy. Without the Proper ADP, the making of budget

will be inaccurate and inefficient because ADP is the main part of budget. The ultimate goal of ADP is to

enforce the development process of the country. Every year Annual Development Program facilitates

different projects occurring in different sectors. It’s to mention that the importance of Annual

Development Program is noteworthy and has significance effect on the economy. So, the proper

implementation of ADP is mandatory for the country’s ultimate development.

The main negative aspect in ADP is the lack of implementation. From the fiscal year 1972-73 to 2012-

2013 no government can totally utilize the amount of ADP. As a result a lot of projects remain undone

and ultimately it affects to the national development process. Another negative aspect is the slow

implementation process of ADP in the beginning of the fiscal year and a harried attempt to materialize

the projects in last two month of the fiscal year. The consequence is the poor quality projects that are

no more valuable in the long run. There are some unnecessary projects that increase the volume of the

ADP and finally they are not materialized. It costs wastage of money in different sectors of the

government. Again revising ADP also costs a lot of money that are not expected.

So, there are a lot of negative aspects in ADP but if the government is sincere about the planning and

their work they may be overcome.

Introduction to Thesis

ADP (Annual Development Program) is the program or process where necessary steps are taken and

funds are allocated to develop some specific sectors. In every year government emphasizes on different

sectors to carry on the development process. ADP includes or covers all those activities that add value to

the public. In Bangladesh still around 80% of the total population are rural inhabitants. Naturally, for

annual development programs (ADP) rural population gets the most priority. Rural development,

electricity, transportation, education, sanitation, pure drinking water, women youth and child

development etc are the major areas where government allocates most resources for its development

budget as ADP. For rapid urbanization and expansion in industrial sector demand for electricity and gas

is increasing very quickly in recent times. Govt. does all types of development works under this ADP

(Annual Development Program) through declaring budget. Development is the key work of ADP. But, the

collection of funds from internal sources as well as external sources is another important work of ADP

(Annual Development Work).Because, this collection activity ensures the proper development process.

OVERVIEW OF ADP

The Annual Development Program (ADP) is a planned and organized list of projects in different sectors.

It is allocated or made for a year with the government's development policies, programs and investment

plan. The ADP is prepared on the basis of the year's development budget. Then, it is approved by the

parliament. The Planning Commission prepares the list of ADP projects of the government of Bangladesh

on the basic of objectives and goals of Five Year Plans. The draft is then placed before the Executive

Committee of the National Economic Council (ECNEC) for its approval. While preparing an ADP, fields

and projects related to national economic development get more priority.

(www.financialexpress.com).For the government to meet its growth and poverty reduction objectives,

the efficiency of public spending must also be improved so that planned development spending by the

government is actually realized. There is a need to strengthen the capacity of line ministries to manage

resource allocation. In Bangladesh, most public resources to promote development and poverty

reduction are allocated through the Annual Development Plan (ADP) (www.countrycompass.com). So,

under ADP govt. takes different types of policies and programs to enhance the development process

within a country. ADP accomplishes its objectives or goals by the planning ministry and finance ministry.

Under the planning ministry, all sorts of development plan are taken and on the other hand finance

ministry facilitates the flow of fund. In this way, ADP does its activities.

MAJOR PART OF BUDGET

ADP (Annual Development Program) is the integral part of government’s budget. Govt. cannot think

about budget without the proper presentation of annual development program. ADP provides more

emphasis on budget. Country’s improvement of GDP is largely depends on the Annual Development

program. That means if ADP is accurately utilized then the percentage of GDP will also increase. So, the

ADP has the great and direct impact on GDP and as well as budget. The success of a budget largely

depends on the proper implement of ADP. In the budget, 456.5 billion budgets were made out of total

revenue and foreign grants 1193.45 billion for development expenditure in 2011-12. In the continual

process, the govt. allocated 601.37 billion out of total revenue and foreign grants 1457.14 billion for

development expenditure in 2012-13(www.idlc.com).so, it is clear here that the ADP (Annual

Development Program) is lion’s part of budgetary process. However the total budget of ADP in

Bangladesh is 321660 crore from 2001-2013.So, it is obvious that the ADP is the greatest and largest

part of budget in Bangladesh.

SOME MEJOR SECTORS of ADP

There are so many sectors of Annual Development Program. Under this sector, the ADP takes the

initiatives and accomplishes its objectives. Analyses of these important sectors are as follows:

Public service : Public sector is the most important sector of ADP where the govt. tries to allocate

more budgets. This is the key aspect of development that improves the services for public and

improves the standard of living. The amount of budget for public service in FY2013 is 6704.0

crore and it is 38.5% more than year FY2012.

Fuel and energy : This is the important sector of ADP where in FY2013 the amount of budget is

1587 cr. And that is 19.9% more than 2012.

Transport and communication : This the vital sector for ADP. Here the budget in 2013 is 2856 cr.

and 27.3% more than 2012.

Social security and welfare : Here the amount of budget from ADP is 652 cr. and 6.3% more than

2012.

Education and technology : This is the most important sector for ADP as well as for Bangladesh.

Every year ADP tries to allocate more budget in this sector for enhancing the standard of

education. In the year 2013 the amount of budget for this sector is 3392.0 cr. and that is 18.1%

more than 2012.

Heath : Health is another important aspect of ADP where in 2013 the amount of budget is 1183

cr. that is 14.5% more than 2012.

Defense service : To ensure the security, the defense sector works where the amount of budget

in 2013 is 626.0 that is 7.3% more than 2012.

Industrial and economic service : Another big sector of ADP is industrial and economic sector

where the amount of budget is 1208 cr. in 2013 that is 77.4% more than 2012.

Housing : To ensure the proper housing facilities, the ADP takes different types of housing

project where the amount of budget is 89.0 cr. that is 6.5% more than 2012.

Recreation, culture and religious affairs : In this sector the amount of budget is 63 cr. in 2013

that is 4.1% more than 2012.

Agriculture : The amount of budget of this sector is about same. The amount of budget is 110 cr.

that is 0.8% more than 2012.

Others(memorandum items): the amount of budget of this sector is 5680 cr. and that is 34%

more than 2012. (www.mof.gov.bd).

RECENT MAJOR INITIATIVES OF ADP

The ADP for FY2013 has been targeted at Tk. 55,000 crore (5.3 per cent of the projected GDP). The new

ADP will be 34.1 per cent higher than the revised ADP (RADP), and 19.6 per cent higher than the original

ADP of FY2012. According to CPD estimates, the proposed ADP for FY2013 could turn out to be 1.5 times

of this year’s actual ADP expenditure. Project aid component of the new ADP is targeted at 39.1 per cent

(which was 36.6 per cent in the RADP and 40.6 per cent in the original ADP of FY2012). Five priority

sectors in the ADP for FY2013 have received 63.5 per cent of the total allocation. These are as follows:

1. Transport

2. Power

3. Education and religious affairs

4. Rural development and institutions and

5. Physical planning, water supply and housing

These are the big five sectors of ADP in recent times (2012-13). The growth of these sectors is about

27.3% out of 34.1% total ADP. (www.imed.gov.bd).

EFFECT OF ADP ON GDP

ADP (Annual Development Program) is the main actor of GDP(Gross Domestic Product). ADP enhances

the GDP in different ways. Without the proper Annual Development Program, the prosperity of a

country as well as GDP is not possible. Here, ADP affects the GDP certainly. In the Annual Development

program, so many programs and projects are taken in hand to develop that selected sectors as well as to

develop the country. By taking different initiatives as projects, ADP solves so many problems regarding

those projects. ADP facilitates different development programs for economic sectors, transportation

sectors, agricultural sectors, energy sectors, technological sectors etc. By doing so, ADP helps to

enhance the aspects of those sectors. In reply, ADP helps or affects to increase GDP. ADP is the essential

actor that has great influence on GDP than another Actor.

IMPORTANCE OF ADP

Important segment : ADP (Annual Development Program) is an important segment of the

fiscal management of the government. It is one of the major segment for the government.

On ADP govt. gives more emphasis. So, it is the important segment for fiscal management of

the govt.

Motivation : One important aspect ADP is to encourage the outlays on productive sector.

That means the sectors those look like productive or have possibilities to do well in that case

ADP helps those sectors as motivation.

Restriction : ADP restrains over unproductive outlays and illegal work.

Living condition improvement: The main importance of ADP is to improve the living

conditions of the people. By taking many projects ADP ensures the betterment of people.

Developing human resources : In a country, ADP develops the human resources by taking

many initiatives. Under the ADP program, youth development and training, women

education act objectivity is done.

Infrastructure development: Under the ADP program physical infrastructural development is

made. like, road, bridge, pool, flyover etc.

Poverty alleviation: ADP reduces the poverty from the country. This is the main motive of

ADP. For developing countries Annual Development Program is the key thing for alleviating

poverty.

Helps to increase GDP : GDP (Gross Domestic Product) is the indicator of country’s

development and improvement. It measures the progress of a nation. Here, ADP help largely

to increase the GDP.

Solving sectors problems: When a sector faces problem. In the mean time ADP solves

different sector’s problems by taking many initiatives as project.

Funds collection : ADP’s another importance is to collect funds. ADP Facilitates funds from

internal (from country) and external (foreign aid) sources.

Sign of advancement : ADP shows or signifies the sign of improvement. Day by day the

amount of ADP is increasing in the budget and it implies the sign of improvement and

prosperity.

Rural development . As well as ADP takes a lot of initiatives regarding the rural development.

Because most of the people of Bangladesh live in rural s

Introduction to Anti Thesis

To attain Millennium Development Goal (MDGs) by 2015, the government has adopted the Poverty

Reduction Strategy (PRS) and its 'key implementation instrument' is the Annual Development Program

(ADP) at present. The Annual Development Program (ADP) is an organized list of projects in different

sectors and allocations for them for a year as prepared in line with the government's development

policies, program and investment plan. (Page: Views and reviews, November 27, 2012, The Financial

Express). Since the inception of ADP, its implementation has never been possible in full swing. The

government of Bangladesh always strives to allocate necessary funds for the ADP but it is a matter of

great sorrow that at the end of the fiscal year it is found that many funds under different ministries

remain unutilized as planned and ultimately it goes to the government.

The main negative aspects of ADP is its improper utilization and slow implementation process. We give

some brief historical incidences of ADP utilization process.

In 1972-73, the size of the ADP was Tk 3.14 billion (Tk 314.51 crore), the project aid was Tk 5.0 billion (Tk

501.01 crore) which was higher than the ADP allocation because it included food aid. The ADP size grew

consistently over the years and rose to Tk 12.2 billion (Tk 1220 crore) in 1976-1977, Tk 30.15 billion (Tk

3015 crore) in 1981-1982, Tk 83.15 billion (Tk 8315 crore) in 1988-1989 and Tk 265 billion (Tk 26500

crore) in 2007-2008. In every year a significant portion of ADP remains unutilized.

The ADP remained greatly reliant on foreign aid. The share of foreign funds in financing ADP projects

was more than 70 per cent until 1979-1980. It dropped to about 64 per cent in the following two years

and then again increased to about 80 per cent in the next three years. The share was more than 90 per

cent in the years 1987-1988 and 1990-1991. However, it started to decline in successive years and was

66 per cent in 1995-96. In 2007-2008, the size of the ADP was Tk 265 billion (Tk 26,500 crore), about 41

per cent of which were planned to have been financed by foreign aid. Delay of release of fund and

proper allocation of foreign fund is one of the negative aspects of ADP.

The government has a practice of revising the ADP almost every year and the main reason is the failure

to receive disbursements of the foreign aid in a general management environment of poor foreign aid

utilization that is another negative aspect of ADP. (Tag: ADP in Bangladesh, Banglapedia)

Negative aspects of annual development plan (ADP)

There are a handsome number of negative aspects remain in ADP that is clarified below:

Lack of Implementation

The practice of formulating ADP and implementation has been started since the First Five-Year Plan

(1955-60) of the provincial government of East Pakistan. Due to rainy season most of the projects fund

in East Pakistan was reduced and refinanced West Pakistan’s project. From that time till now no

government could ensure the proper implementation of annual development plan. After the

independence, in fiscal year 1972-73, the size of the ADP was Tk 314.51 crore, project aid was 501.01

crore and there was no project except for food. The ADP size has grown consistently over the years and

became Tk 1220.00 crore in 1976-77 and among 1477 projects only 78 projects were done, Tk 3015.00

crore in 1981-1982 and that time only 133 projects had been implemented among 1691 projects, and Tk

35880.00 crore in 2011-12 when there were 1234 projects and only 199 projects were done. (IMED, ERD

& Planning Commission, Ministry of Finance). But if we take a look into the monetary expenditure it is

seen that between FY02 and FY09, only about 77% of announced ADP had been implemented on

average a year. (Sunday, June 13, 2010, The daily Star) This low implementation scenario also goes in the

current fiscal year 2012-13 and this time revised ADP (RADP) implementation rate reached 93 percent,

but some 30 out of the 54 Ministries and Divisions showed less financial progress than the national

average implementation rate of 93 percent as the expenditure reached Tk 38,022.76 crore out of the

RADP allocation of Tk 41,080.00 crore. (IMED releases report on ADP implementation progress for last

fiscal, March 30, 2013,).

Delay in projects approval

In order to implement the projects properly development projects pro forma (DPP) should be approved

in time. Due to long procedure and delay in preparing and approving the DPP and asking revision several

times, the commencement date of the project failed, as a result project implementation was not started

in due time. It’s a cumbersome process that involved in projects approval process starting from DPP

received from Agency to ECNEC / Planning Minister for approval. Despite these, there are bureaucratic

problems in different ministries that start projects approval process with a steady pace. Delayed

approval process seriously affects timely completion of ADP projects, it also overshoots cost, leading to

wastages of billions of taka. All government agencies suffer from lack of an efficient planning wing that

can formulate and then execute a project in time. An classic example of this problem we can mention

that Tk2.14 billion Gazipur-Itakhola road construction work would take 34 years to complete. (Cited

by Zaid Bakht, the research head of the Bangladesh Institute of Development Studies (BIDS).

Inadequate allocation of fund

Although government tries to facilitate adequate funds for the projects approved sometimes it is seen

that many projects cannot see the light of implementation due to the lack of funds. In domestic resource

mobilization issue there are some impediments arises for adequate allocation of fund. Moreover

sometimes loan agreements with unfavorable terms are signed, which is linked with insufficient

disbursement of foreign currency, delay in selection of consultant, delay in procurement of materials

and equipment and so on.

Inadequate release and delayed release of fund

Every year adp allocation has been made for the implementation of the project. There are basically two

types of sources from where the funds are generated namely domestic resources and foreign assistance.

For proper implementation of a project smooth timely flow of required fund must be ensured. Due to

some procedural complexities, inadequate expenditure by implementing agency hampers the

implementation. Although the government has fixed may 30 as deadline for release of all development

and non-development funds to maintain discipline in spending public money, it’s a common practice

that, the government releases the major part of ADP funds in May-June period, the last two months of a

fiscal year.( May 14, 2013, Dhaka Tribune).

Delay in agreement with donors

Quick and right decision by the donors at the right time is very essential for the proper implementation

of a project. But sometimes projects suffer from delayed decisions to the concern people or party for

implementation. We can see that, in respect of foreign aid allocation, government budget for ADP based

on the assured or non assured funds but very often they fail to get funds.

Procedural delay of the foreign donors

Due to political instability, disasters and economic rescissions donors might delay to provide fund and

sometimes there might be delay in procedure of disbursement and official technical problem projects

may hamper.

Revision problem of ADP

In almost every year government revises ADP to make it balance with the resources available and its size

is squeezed. In 2007 – 08, the government reduced 15% of ADP from Taka 26,500 crore to Taka 22,500

crore. (An analytical review, Saleh Ahmed, Brac University). Sometimes, the government changes the

ADP by inclusion of new projects or exclusion of some listed projects in the middle of the year. The

causes for revision include delays in approval of projects, procurement related problems and shortage of

taka counterpart fund for the projects.

Moreover, a new ADP is found to contain almost 80 per cent of its projects brought forward from the

previous Revised Annual Development Program (RADP). (Jafar Ahmed Chowdhury, Financial Express).

The funds, therefore, are failed to channel to the project within the stipulated time. As a result projects

remain unimplemented and ultimately GDP suffers.

Delay in allocation and reimbursement of foreign aid

Allocation of foreign aid is very crucial because our ADP is heavily dependent on this aid. In the current

fiscal year ADP and RADP is Taka 55000 crore and Taka 33500 crore among which foreign aid is 21500

crore. (Picture of ADP allocation form, 1972- 73 to 2012-13 FY, IMED, Ministry of Finance). If the foreign

aid is not released in time then the project will suffer. From the donors’ perspective, the commitment is

increase aid flows to developing countries, only the starting point. This in turn to raises issues regarding

the role of the donors’ aid allocation policies in ensuring aid effectiveness. Some important propositions

that are relate governance to foreign aid allocation and effectiveness. The aid to the production sector

can be effective in promoting growth in countries with a low quality of governance. However, aid

allocated to economic infrastructure is efficient in countries with medium and high quality of

governance.

Inability to utilize released fund

In every year a handsome portion of ADP remains unutilized and returns to the government. In the

current fiscal year approximately Taka 2345 crore are returned back to govt. (IMED, Ministry of Finance).

It has been witnessed that the ministries, while formulating the ADP, pile up pressure on the

government to increase allocation for them but finally fail to spend the money. The picture was more

severe in previous years also. In the fiscal year 2008-09, 2009-10 and 2010-11 approximately 14 percent,

9 percent and 8 percent of amount of revised ADP remain unutilized. (ADP allocation form, 1972- 73 to

2012-13 FY, IMED, Ministry of Finance). Procedural simplicity is desirable and procedural complexity is a

problem for project implementation. In the project usually there is a member in the technical committee

for purchasing materials; several times the tender committee had to be suspended for the absence of

the member. Conducting meeting by maintaining all the procedures and formalities were a problem in

this case that affects flow of project implementation process.

Unnecessary projects due to implementing political agenda

In many times a lot of unnecessary projects are included in adp in order to implement the political

agenda. All of the ruling political party have a tendency to inject some projects that satisfy their own

interest. Sometimes we see newspaper that bridge is build over the dry land where there is no necessity

of it. In some extreme cases we see that long roads are constructed only for some political men to join

their residence with the main road where those constructions provide no public utility. Apart from this,

last minute spending of the ADP allocation at a hurried pace is leading to sheer wastage of money and

making room for corruption. Such type of projects adds no value to the public as well as creates wastage

of people’s money and ultimately contributes nothing to the GDP.

Inconvenience of the timing of budge with the release of money for ADP:

The fiscal year of Bangladesh is July to June and budget is announced at the June of a year. After that

budget is revised and revised ADP is announced. Due to the different reasons the release of money for

ADP takes place in the last quarter of the fiscal year in full swing and it mainly happens just before the

rainy season. The implementation process of different projects of ADP prolongs due to this season which

create additional costs for the projects as well as the quality of projects remain under standard. In fact,

spending nearly 50 per cent of the total ADP allocation in two months is a gigantic task. Such a situation

emerges every year affecting the quality of the completed projects. The durability of infrastructures,

constructed or developed hurriedly, is generally found to be short.

Conclusion

At last it is indicated that the significance of ADP (Annual Development Program) is noteworthy. ADP

bears importance for every country as well as for Bangladesh. ADP includes or covers all sorts of

development works. For every sector, it accomplishes projects with different budget according to its

necessity by the government. The proper implication of Annual Development Program makes the proper

budget. The importance of ADP cannot be ignored. ADP shows the real picture of any country’s

development process. So, it can be concluded that the significance, importance and usage of ADP

(Annual Development Program) has ultimate effect on our economy.

Although there are some negative aspects remain in the ADP, if government tries hard and works on

time then there will be no difficulties to implement it. Thus our country’s development pace will

increase and we will see a prosperous future.

Bibliography

1. BIBLIOGRAPHY [Report]. - [s.l.] : www.idlc.com, june 10,2012.

2. [Report]. - [s.l.] : www.mof.gov.bd.

3. [Report]. - [s.l.] : www.imed.gov.bd.

4. www.countrycompass.com [Report].

5. www.financialexpresss.com [Article]. - [s.l.] : Abul Kalam Azad.

6. 6. www.newagebd.com/detail.php?date=2013-03-20&nid=43476

7. http://www.thefinancialexpress-bd.com/index.php?   

ref=MjBfMTFfMjdfMTJfMV8yN18xNTEyMzA=

8. http://www.janaojana.com/q-4176   

9. http://www.imed.gov.bd/index.php?option=com_content&task=blogsection&id=28&Itemid=298   

10. http://www.mof.gov.bd/en/index.php?option=com_content&task=view&id=78   

11. http://bangladeshbudgetwatch.wordpress.com/   

12. adp.ihsn.org/node/1538

13. www.badc.gov.bd/

14. dhakatribune.com/tags/ADP

15. Picture of ADP allocation form, 1972- 73 to 2012-13 FY, IMED, Ministry of Finance

16. Jafar Ahmed Chowdhury, Financial Express

17. An analytical review, Saleh Ahmed, Brac University

18. The daily Star

19. Tag: ADP in Bangladesh, Banglapedia

Annexure

1. Scenario of ADP allocation and Implementation

YEARS ALLOTMENT IMPLEMENTATION

2001-2002 16000 14090

2002-2003 17100 15434

2003-2004 19000 16817

2004-2005 20500 18771

2005-2006 21500 19472

2006-2007 21600 17916

2007-2008 22500 18455

2008-2009 23000 19701

2009-2010 28500 25917

2010-2011 35880 33007

2011-2012 41080 38023

2012-2013 (partial) 55000 16439

2. Annual Development Program (ADP) Expenditure (%) by Major Sectors

1990-9191-92

92-9393-94

94-9595-96

96-9797-98

98-99

1999-2000

2000-01

2001-02

2002-03

2003-04

2004-05

2005-06

2006-07

2007-0805

101520253035

agriculture,water,resourse,rural developmentindustry and energyphysical infrastructureeducation and religionhealth othersothersothers

3. Allotment of budget for ADP

2001-02

2002-03

2003-04

2004-05

2005-06

2006-07

2007-08

2008-09

2009-10

2010-11

2011-12

2012-130

10000

20000

30000

40000

50000

60000

ALLOTMENT OF BUDGET FOR ADPSeries2Series3

4. Implementation of ADP in different years

2001-02

2002-03

2003-04

2004-05

2005-06

2006-07

2007-08

2008-09

2009-10-

2010-11

2011-12

2012-130

500010000

1500020000

2500030000

3500040000

IMPLEMENTATION OF BUDGETSeries2Series3Series4

***2012-2013 Partial