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19 July 2024

Business Insider Bangladesh

Kamal starts unveiling national budget of Tk 7,61,785cr for FY 2023-24

BI Report || BusinessInsider

Published: 15:44, 1 June 2023   Update: 15:54, 1 June 2023
Kamal starts unveiling national budget of Tk 7,61,785cr for FY 2023-24

Representational photo

Finance Minister AHM Mustafa Kamal has started placing national budget of Tk 7,61,785 crore for the 2023-24 fiscal year with an aim to build a hunger and poverty-free, knowledge-based and developed 'Smart Bangladesh' by 2041.

The budget size for the next FY2023-24 is estimated at Tk 7, 61, 785 crore, which is 15.2 percent of the GDP, Kamal he said while placing the budget speech at Jatiya Sangsad on Thursday.

BSS adds: Kamal wearing a traditional Panjabi and Pajama with a black ‘Mujib coat’ started placing his 248-page budget speech featuring power-point presentation just after 3:00 pm in presence of leader of the house and Prime Minister Sheikh Hasina.

The budget session was resumed today with Speaker Dr Shirin Sharmin Chaudhury in the chair.

The Finance Minister proposed to allocate a total of Tk 4,36,247 crore to operating and other sectors and Tk 2, 63,000 crore to the Annual Development Programme.

In the proposed budget for FY24, the total revenue is estimated at Tk 5 lakh crore. “Out of this, I propose to collect Tk 4 lakh 30 thousand crore through the National Board of Revenue and Tk 70 thousand crore from other sources,”

The overall deficit in the proposed budget will stand at Tk 2,61,785 crore, which is 5.2 percent of GDP.

It should be noted here that the deficit rate was 5.5 percent in the previous budget.

Out of the total deficit, Tk 1,55,395 crore are proposed to be financed from domestic sources and Tk 1,02,490 crore from external sources.