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BD's revenue deficit balloons to Tk 580bn in first half of FY 2024-25

Published : Wednesday, 5 February, 2025 at 12:00 AM  Count : 454
The revenue deficit in the first half of the 2024-25 fiscal year has stood at nearly Tk 580 billion due to the shock caused by the deterioration of law and order in Bangladesh after the July uprising and August power transition.
In addition, the revenue collection at this time is also lagging behind compared with the same period of the last fiscal year.
According to data released on Monday, the National Board of Revenue, or NBR, had a target to collect Tk 2.14 trillion in revenue in the first half of the current fiscal year.
However, the figure reaches Tk 1.56 trillion which means the revenue deficit stands at Tk 578.91 billion.
The NBR was given a target of Tk 4.8 trillion for the entire fiscal year.
Meanwhile, the revenue collection in the same period last year was Tk 579.88 billion, which is 0.98 percent, or Tk 15.42 billion higher than the current fiscal year.
While all economic indexes, such as imports, exports, and production, are slowing down, revenue collection continues to be low.
However, the revenue collection returned to a positive growth trend in December.
The latest figures show there has been a growth of 6.68 percent in the month compared with December last year.
Last year's August, the month of the power transition, saw the worst situation in the first half of the financial year.
After the fall of the government, the business environment was fragile as the members of the law-enforcing agencies became inactive due to attacks on police.
The traders did not dare to unload the goods and bring them to the warehouse or the production site despite the payment of duty, impacting the revenue collection in August.
During the month, the revenue collection was lower by 14.30 percent compared with the corresponding period of the previous year.    —bdnews24.com


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