Tk 761,785 crore national budget with Tk257,885 crore deficit

Budget 2023-2024

Dhaka, June 1 - Finance Minister AHM Mustafa Kamal has unveiled the national budget of Tk 761,785 crore for the fiscal year 2023–24 at the Jatiya Sangsad on Thursday.

This is the 5th consecutive budget presented by the finance minister and last of the current Awami League government.

The budget focuses on driving the country on an incremental economic-growth matching Bangladesh's LDC-graduation route and fulfilling the conditions of the International Monetary Fund (IMF) for a loan of $4.7 billion.

Of the total proposed outlay, Tk 475,281 crore has been allocated for operating expenditures, and Tk 277,582 crore for development purposes.

The total revenue earnings target has been 0 estimated at Tk 5 lakh crore, of which, the National Board of Revenue (NBR) will collect Tk 4.30 lakh crore, and the rest will be collected from other sources.

The proposed budget's overall deficit, including grants, will be Tk 257,885 crore, which is 5.2 per cent of the GDP.

The inflation target is set to 6.5 percent though current inflation rate is over 9 percent. - GW news desk with UNB