Finance Minister Abul Hasan Mahmud Ali has proposed a budget of 7 lakh 97 thousand crore rupees for the financial year 2024-25. In this budget, without grants, the deficit is Tk 2 lakh 56 thousand.
The Finance Minister presented the budget proposal for the fiscal year 2024-25 before the nation in the National Parliament on Thursday (June 6). This is the first budget of Abul Hasan Mahmud Ali as Finance Minister.
The finance minister presented this budget proposal under the pressure of inflation. Inflation is touching 10 percent. In this situation, the finance minister expects inflation to be 6 and a half percent in the next financial year. In the budget of the current financial year, the inflation target was 6 and a half percent.
In addition to listening to the message of hope to bring down inflation to 6.5 percent, the GDP growth target for the next financial year has been set at 6.75 percent. In the budget of the current financial year, the target of GDP growth is 7 and a half percent, later it is reduced to 6 and a half percent.
In the budget proposal presented by the finance minister expressing hope for big growth by reducing inflation, the deficit without grants has been estimated at Tk 2 lakh 56 thousand crores. The total deficit including grants has been estimated at Tk 2 lakh 51 thousand 600 crores. In addition, the target of receiving a grant of Tk 4 thousand 400 crore has been set.
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To meet this deficit, the foreign loan target has been fixed at 1 lakh 27 thousand 200 crores. 36 thousand 500 crores of foreign debt will be repaid. In this, the net foreign debt will stand at 90 thousand 700 crores.
And domestic loan will be taken 1 lakh 60 thousand crores. Out of this, 1 lakh 37 thousand 500 crores will be taken from the banking system, of which 72 thousand 682 crores are long-term loans and 64 thousand 818 crores are short-term loans. 23 thousand 400 crores of non-bank loans will be taken. The target for sale of savings bonds is Tk 15,400 crore.
In the proposed budget, the interest payment cost of the loan has been estimated at 1 lakh 13 thousand 500 crores. Out of this, interest on domestic debt is 93 thousand crores. And foreign loan interest is 20 thousand 500 crores.
This time the revenue target has been fixed at 5 lakh 41 thousand crores. Out of this, the target of National Board of Revenue (NBR) is 4 lakh 80 thousand crores. 15 thousand crores of non-NBR tax has been assessed. And the target of receipt without tax has been fixed at 46 thousand crores.
In the proposed budget, the operational expenditure has been estimated at Tk 5 lakh 6 thousand 971 crore. Out of operating expenses, recurrent expenses are Tk. 4 lakh 68 thousand 983 crores. And the interest payment of domestic and foreign loans is 1 lakh 13 thousand 500 crores. This time the capital expenditure has been estimated at 37 thousand 989 crores.
In the proposed budget, the development expenditure has been estimated at 2 lakh 81 thousand 450 crores. Out of this, the scheme will spend 5 thousand 943 crores. Expenditure of special projects other than ADP has been estimated at 7 thousand 627 crores. The expenditure on the annual development program has been estimated at 2 lakh 65 thousand crores. And in exchange for work, food program (non-ADP) and relocation has been estimated at 2 thousand 884 crores.
MAS/ASA/MS
