Bangladesh
Budget Cabinet approves budget
Dhaka, June 9: The special meeting of the cabinet has approved to present the proposed budget for the fiscal year 2021-22 in the parliament. The special cabinet meeting was held at noon on Thursday (June 9) at the Jatiya Sangsad Bhaban. The meeting was chaired by Prime Minister Sheikh Hasina. Earlier, the meeting started at Jatiya Sangsad Bhaban after 12 noon. The members of the cabinet including the finance minister took part in it.
The budget allocation for the fiscal year 2021-22 was Tk 6 lakh 3 thousand 681 crore. Compared to that, the size of the new budget for 2022-23 has increased by Tk 74,383 crore.
The potential revenue target of the government is going to be 4 lakh 36 thousand 271 crore taka in the implementation of big expenditure budget in the budget of next financial year. Where the size of the deficit without grants in the budget is Tk 2 lakh 45 thousand 64 crore. And there will be a deficit of 2 lakh 41 thousand 793 crore, including grants.
Concerned parties said that the potential revenue target for the new financial year (2022-23) has been set at Tk 4 lakh 36 thousand 271 crore, which is Tk 44 thousand 79 crore more than the current 2021-2022 financial year.
In the proposed budget, the government is planning to earn Tk 3 lakh 88 thousand crore from the revenue sectors. Of this, the National Board of Revenue (NBR) has set a target of Tk 3 lakh 70 thousand crore.
The government is targeting NBR to collect more than Tk 40,000 crore in the new financial year. Of this, the target for revenue from non-NBR tax has been set at Tk 18,000 crore. Besides, income without tax has been estimated at Tk 45,000 crore. And the income from foreign grants has been estimated at Tk 3,271 crore.
Regarding the budget for the new financial year, Planning Minister MA Mannan said that the national budget of around Tk 6.75 lakh crore for the next financial year will be presented in the National Assembly on Thursday. Like every time, the budget has been prepared with the priority of the common people.
