Tk 4.65 tn budget focuses on election
Published : Thursday, 7 June, 2018 at 5:24 PM Count : 1127
Finance Minister Abul Maal Abdul Muhith placed Tk. 4,64,573 crore national budget in the parliament with the theme 'Bangladesh on a Pathway to Prosperity', laying out plans on how to finance the deficit in an election-year budget.
"Following Vision 2021, we are presenting an outline of that long and enduring process in Vision 2041," Muhith said in his budget speech, adding, "I am confident, the people will stand by us by offering another mandate for implementing Vision 2041, as they did while taking forward the agenda of Vision 2021."
Keeping election in mind, the proposed budget emphasized social safety, human resource development, physical infrastructure, agriculture, housing, education, health, science and technology, communication sector, power and energy sector.
In his 166-page budget speech that lasted over three hours on Thursday, Tk 2,91,573 crore has been allocation for non-development and other expenditures while the development expenditure has been estimated at Tk 1,73,000 crore.
The target for GDP growth has been set at 7.8 percent in the next fiscal while the target for containing inflation in the next fiscal year has been set at 5.6 percent.
The total revenue income has been estimated at Tk 3,39,280 crore and out of this target, an amount of Tk 2,96,201 crore will come from the NBR sources. Alongside, Tk 9,727 crore will come as tax from non-NBR sources while Tk 33,352 crore from non-tax sources.
The overall budget deficit will be Tk 1,25,293 crore which is 4.9 per cent of GDP. Of the amount, Tk 54,067 crore will be financed from external sources while an amount of Tk 71,226 crore will be financed from domestic sources.
Of the domestic sources, Tk 42,029 crore will be borrowed from the banking system while Tk 29,197 crore from National Savings Schemes and other non-bank sources.
The total size of the ADP will stand at Tk 1,80,869.17 crore. Out of the overall ADP allocation, Tk 1,19,810.95 crore will come from the local sources while Tk 61,058.22 crore from foreign ones.
A total of Tk 1,36,887 crore has been proposed for public services sector, Tk 32,670 crore for local government and rural development, Tk 29,101 crore for defence, Tk 26,629 crore for public order and safety, Tk 67,944 crore for education and safety, Tk 23,393 crore for health, Tk 27,525 crore for social security and welfare, Tk 4,963 for housing, Tk 43,41 crore for recreation, culture and religious affairs, Tk 24,920 for fuel and energy, Tk 26,259 for agriculture, Tk 3,466 crore for industrial and economic services and Tk 56,475 crore for transport and communication sector has been proposed in this budget.
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