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{
"id": 1254185,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1254185/?format=api",
"text_counter": 136,
"type": "speech",
"speaker_name": "Prof. Njuguna Ndung’u",
"speaker_title": "The Cabinet Secretary, National Treasury and Economic Planning",
"speaker": null,
"content": "Let me turn to resource allocation under the Bottom-up Economic Transformation Agenda (BETA). The high rise of the budget allocation in the coming financial year provided in recognition of the need to restrain borrowing and utilisse revenues and grants projected in the fiscal framework. The proposed total programmed expenditures spending for the financial year 2023/2024 has been capped at Ksh3.68 trillion. As I mentioned earlier, the Government will implement strategic priorities under BETA that is geared towards economic turnaround and inclusive growth. The agenda focuses on five sectors that have been outlined. They have been outlined because they give the largest impact to the economy as well as lays the households’ welfare. These include, for purposes of repeating: agricultural transformation, micro and small medium enterprise economy, housing and settlements, healthcare, digital superhighway, and creative industry. To ensure the effectiveness and efficiency in the planned investment in the five sectors, Kenya Kwanza Administration has adopted the value chain approach to budgeting. In this regard, the Government has identified nine key value chain areas for implementation, namely: leather, cotton, dairy, edible oils, tea, rice, blue economy, national resources including minerals and forestry, and building materials. This will ensure that there is no break in the value chain, cycle of resource allocation for value chain, and that adequate resources are allocated to the entities along the value chain. Of importance, this will eliminate any form of duplication of both roles and budgeting to ensure that there are no gaps and thus ensure efficiency in resource allocation. On agricultural transformation and inclusive growth, the Government will implement interventions to ensure food security in the country through climate change mitigation and adaptation, thereby reducing the cost of living. As part of the country’s long-term food security plan, the Government working with private sector will continue to subsidisse fertiliser in order to make it available and improve productivity in counties. This intervention is also aimed at creating jobs as agriculture has the highest employment multiplying effect owing to its strong forward and backward linkages to other sectors of the economy. In order to support our aspirations of attaining food and nutrition security, I propose to the National Assembly to effect budget allocations of Ksh49.9 billion to the relevant programmes in this Budget. Out of this, Ksh5 billion is proposed for the fertiliser subsidy programme, Ksh8.6 billion for the National Agricultural Value Chain Development Project, Ksh2.7 billion for the National Agricultural and Rural Inclusivity Projects, Ksh2.1 billion for the Kenya Cereal Enhancement Programme, Ksh2.8 billion for emergency locust response, Ksh1.4 billion for small-scale irrigation and value addition programmes, Ksh1.3 billion for Food Production and Nutrition Security Programme, Ksh500 million for Agricultural Sector Development Support Programme, and Ksh596 million for the Food Security and Crop Diversification Project. To improve livestock production, I propose to the National Assembly to effect a budget allocation of Ksh3.7 billion to De-risking, Inclusion and Value Enhancement of Pastoral Economies Programme; Ksh2.1 billion for Livestock Value Chain Support Project, Ksh1.5 billion for Kenya Livestock Commercialisation Programme, and Ksh166 million for the Embryo Transfer Project. I also propose to the National Assembly to effect budget allocation of Ksh350 million for the development of the Leather Industrial Park at Kinanie, Ksh220 million for livestock production, and Ksh132 million for leather value chain. To enhance animal disease control, I propose to the National Assembly to effect budget allocations of Ksh130 million for sustainable tsetse fly and trypanosomiasis free areas in Kenya, and Ksh135 million for the establishment of the liquid nitrogen hydrogen plant. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}