National Rice Program gets over P30-B in proposed 2024 budget

The proposed budget for fiscal year 2024 has allocated P30.9 billion for the government's National Rice Program.

In his budget message, President Ferdinand "Bongbong" Marcos Jr. stated that the amount aims to enhance rice production, "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 said the government wants to guarantee sufficient rice supply during times of food crisis and effects of climate change.

He said a total of P9.0 billion was allocated to procure 473,684 metric tons of palay for the Buffer Stocking Program of the National Food Authority.

Meanwhile, the Department of Agriculture, which Marcos chairs, aims to improve the production of other major agricultural commodities and boost the income of farmers through 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 other hand, the sugarcane industry will also be boosted with P1.0 billion.

The proposed budget also sets aside a total of P6.9 billion for the National Fisheries Program in order to capitalize on our advantage as an archipelagic country.

The government vowed to continue formulating interventions to advance agri-fishery practices.

Budget Secretary Amenah Pangandaman on Wednesday officially submitted the P5.768 trillion proposed budget for 2024 to the House of Representatives, reflecting a 9.5% increase from this year’s appropriations.

The DBM said that the proposed national budget for next year "shall continue to prioritize expenditure items that promote social and economic transformation through infrastructure development, food security, digital transformation, and human capital development."

The administration has allocated some P1.4 trillion for its Build Better More Program, equivalent to 5.3% of the gross domestic product (GDP).

Meanwhile, Education was allocated P924.7 billion or 16.0% of the NEP for 2024, as the Constitution mandates the sector to be the top priority.

The proposed budget for 2024 also includes P20 billion allocation for the allowances and COVID-19 compensation package for healthcare workers in the budget for fiscal year 2024

The submission of the National Expenditure Program (NEP) for 2024 came a week after President Ferdinand “Bongbong” Marcos Jr.’s second State of the Nation Address (SONA), as the 1987 Constitution provides that the budget must be submitted within 30 days of this. —VAL, GMA Integrated News