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National budget of Tk 7.61 lakh crore on Thursday
Finance Minister AHM Mustafa Kamal will present the national budget for the next fiscal year (FY24) on Thursday.
Finance Minister AHM Mustafa Kamal will present the national budget for the next fiscal year (FY24) on Thursday (June 1).
The possible budget size of Tk 7,61,785 crore would aim at taming inflation and maintaining the higher GDP growth trajectory, said a Finance Ministry official.
According to the finance ministry, the budget is likely to set the revenue collection target at Tk 5 lakh crore with a deficit at Tk 2.61 lakh crore for FY24. Of which, Tk 1.02 lakh crore will be borrowed from external sources while Tk1.55 crore would come from domestic sources.
The finance minister hopes to get Tk 1.32 lakh crore from banking system, Tk 18,000 crore from saving certificate, Tk 23,000 crore from non-bank sources.
Besides, the government's operating expenditure is expected to be fixed at Tk 4.75 lakh crore and total development cost Tk 2.77 lakh crore.
The government this time is eying to attain a growth rate of 7.5 per cent in the next fiscal year (FY24) while to contain the inflation rate around 6.5 percent. The total investment target in the next year will be 33.8 percent of GDP.
On May 11 last, the National Economic Council (NEC) approved a Tk 2,63,000 crore Annual Development Programme (ADP) for the next fiscal year (FY24) making highest allocation of Tk 75,945 crore (28.88pc of allocation) in the transport and communication sector.
Out of the original ADP allocation, Tk 1,69,000 crore will be drawn from the local sources while Tk 94,000 crore will come from the foreign sources.
In 2022, Finance Minister AHM Mustafa Kamal placed Tk 6,78,064-crore national budget for the fiscal year 2022-23 in the House.
Earlier, the 23rd budget session of the Jatiya Sangsad for fiscal 2023-2024 (FY24) began on Wednesday afternoon with Speaker Dr Shirin Sharmin Chaudhury in the chair.
President Mohammed Shahabuddin convened the 23rd session of the parliament exercising the power bestowed upon him as per the clause (1) of Article 72 of the Constitution.