The proposed finances for fiscal 12 months 2024 has allotted P30.9 billion for the federal government’s National Rice Program.
In his finances message, President Ferdinand “Bongbong” Marcos Jr. acknowledged that the quantity goals to reinforce rice manufacturing, “with the ultimate goal of achieving food self-sufficiency through the country’s rice supply, and in turn, making the price of rice affordable for all.”
Further, Marcos stated the federal government needs to ensure ample rice provide throughout instances of meals disaster and results of local weather change.
He stated a complete of P9.0 billion was allotted to obtain 473,684 metric tons of palay for the Buffer Stocking Program of the National Food Authority.
Meanwhile, the Department of Agriculture, which Marcos chairs, goals to enhance the manufacturing of different main agricultural commodities and increase the revenue of farmers by the National Corn Program (P5.3 billion), National Livestock Program (4.3 billion), and National High Value Crops Development Program (P1.9 billion).
On the opposite hand, the sugarcane trade can even be boosted with P1.0 billion.
The proposed finances additionally units apart a complete of P6.9 billion for the National Fisheries Program to be able to capitalize on our benefit as an archipelagic nation.
The authorities vowed to proceed formulating interventions to advance agri-fishery practices.
Budget Secretary Amenah Pangandaman on Wednesday formally submitted the P5.768 trillion proposed finances for 2024 to the House of Representatives, reflecting a 9.5% enhance from this 12 months’s appropriations.
The DBM stated that the proposed nationwide finances for subsequent 12 months “shall continue to prioritize expenditure items that promote social and economic transformation through infrastructure development, food security, digital transformation, and human capital development.”
The proposed finances for 2024 contains P20 billion allocation for the allowances and COVID-19 compensation package deal for healthcare employees within the finances for fiscal 12 months 2024
The submission of the National Expenditure Program (NEP) for 2024 got here per week after President Ferdinand “Bongbong” Marcos Jr.’s second State of the Nation Address (SONA), because the 1987 Constitution gives that the finances should be submitted inside 30 days of this. —VAL, GMA Integrated News
Source: www.gmanetwork.com
