BDT 340,006 crore annual budget to be placed for FY 2016-17 | Greenwatch Dhaka | The leading online daily of Bangladesh

BDT 340,006 crore annual budget to be placed for FY 2016-17


Finance Minister AMA Muhith is likely to place annual budget proposal around Tk 340,006 crore for FY 2016-17.The budget session is going to start from today.
The finance minister is likely to start placing the country’s 45th budget proposal around 3:00pm Thursday.
Muhith is the first finance minister who is placing the national budget for the 10 times and third time for the Awami League government of second term.
Muhith will make power point presentation on the proposed budget in digital way
The government will now lay emphasis on health and education after having given priority to power and communication in the past few years, the finance minister has said.
On Saturdya AMA Muhith said allocation for the education sector would be enhanced in the budget for FY 2016-17.
He hoped the rise in allocation for education would continue over the next five to six years.
The government set the revenue earning target from National Board of Revenue at Tk2,03,152 crore for the next fiscal year, with the highest from value-added tax.
The likely target is Tk26,782 crore more than the original target of the current fiscal year and Tk53,152 crore than the year’s revised target.
As of now, the lion revenue share came from income tax. But the government now wants to shift its focus to VAT.
The growth rate of gross domestic product (GDP) is likely to be at 7.2 per cent in the new fiscal year and inflation rate 5.8 per cent.
The budget for the FY16 will be passed on June 30, the last day of the outgoing 2014-15 financial year.
For entire participation in the budget the budget speech of finance minister AMA Muhith will be available at www.bangladesh.,,,, www., and www.
The finance minister will address a post budget press conference at the Osmani Memorial Auditorium in the capital at 4pm on Friday.


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