Cabinet approval for presentation of proposed budget

In a special meeting of the Cabinet, the proposed budget for the financial year 2024-25 has been approved for presentation in the National Parliament. This special meeting of the Cabinet was held at the Jatiya Sangsad Bhaban on Thursday (June 6) at noon. Prime Minister Sheikh Hasina presided over the meeting.

Today (Thursday) at 3 pm Finance Minister Abul Hasan Mahmud Ali is going to present the budget of 7 lakh 97 thousand crore rupees for the financial year 2024-25. He is the 18th finance minister of the country. Abul Hasan Mahmud Ali will present the budget for the first time as the finance minister. This is the 53rd budget of the country. The size of the budget has increased every year in keeping with the times. Naturally, the budget of the next financial year is going to be the biggest budget of the country.

Although the size of the budget for the fiscal year 2024-25 has increased, the deficit is decreasing. Compared to the proposed budget of the current fiscal year, the deficit in the next fiscal year’s budget is estimated to be Tk 5,785 crore. Without grants, the budget deficit is estimated at 2 lakh 56 thousand crores. However, the total deficit including grants will stand at 2 lakh 51 thousand 600 crores. In other words, the target of receiving a grant of Tk 4 thousand 400 crore is being considered for the next financial year.

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  • The Cabinet meeting is going on to approve the budget presentation
  • The price of products may increase
  • The price of the products may decrease

To meet the deficit, the target of foreign debt is 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.

1 lakh 60 thousand crores of domestic debt will be taken. 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 budget of the financial year 2024-25, the interest payment cost of the loan is 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.

The revenue target in the budget is Tk 5 lakh 41 thousand crores. Out of this, the target of National Board of Revenue (NBR) is 4 lakh 80 thousand crores. Non-NBR tax is estimated at 15 thousand crores. And the target of receipt without tax is 46 thousand crores.