This time the budget deficit is Tk 2 lakh 56 thousand crores


Compared to the current financial year 2023-24, the government is going to increase the budget by 35 thousand 215 crores for the next financial year 2024-25 and give a budget of 7 lakh 97 thousand crores. Despite the increase in the size of the budget, the amount of deficit in the coming financial year is decreasing slightly. Compared to the proposed budget of the current fiscal year, the deficit in the budget of the next fiscal year is considered to be less than five thousand 785 crore taka.

According to sources in the Ministry of Finance, Finance Minister Abul Hasan Mahmud Ali will present the budget proposal for the fiscal year 2024-25 to the nation through the National Parliament on June 6. The size of this budget will be 7 lakh 97 thousand crores. And the budget deficit will be estimated at 2 lakh 56 thousand crores.

To meet this shortfall, the target of foreign debt may be 1 lakh 27 thousand 200 crores. And the domestic bank loan target can be set at 1 lakh 37 thousand 500 crores. The target for sale of savings bonds may be Tk 15,400 crore. On the other hand, the cost of paying interest on the loan can be estimated at 1 lakh 13 thousand 500 crores.

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In the budget of the fiscal year 2024-25, the revenue target may be Tk 5 lakh 45 thousand 400 crore. Of this, the target of the National Board of Revenue (NBR) is Tk 4 lakh 80 thousand crores.

About 64 percent of the 2024-25 budget can be earmarked for operational expenditure. Never before has allocation been kept at such a high rate for operating expenses. Besides, 14 percent of the budget will be spent on loan interest payments. As a result, the allocation of money for development expenditure will stand at 22 percent.

For the current fiscal year 2023-24, former finance minister AHM Mustafa Kamal proposed a budget of Tk 7 lakh 61 thousand 785 crores. There the overall deficit is estimated at 2 lakh 61 thousand 785 crores. To meet this deficit, the target of taking foreign loans is 1 lakh 27 thousand 190 crores. On the contrary, the foreign debt repayment target is Tk 24 thousand 700 crore. The amount of net foreign debt stands at one lakh two thousand 490 crores.

On the other hand, the domestic debt target is Tk 1,55,395 crore. Out of this, the target of Tk 1 lakh 32 thousand 395 crores from banking system and Tk 23 thousand crores from non-banks is taken. And the target of taking 18 thousand crore rupees from the savings certificate. In other words, more loans will be taken from foreign loans and domestic banking system in the next financial year compared to the current financial year. However, the target of withdrawing money by selling savings bonds has been reduced.

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In the next financial year 2024-25 budget, subsidy and incentive expenditure may be higher than the current financial year. In the current fiscal year, the subsidy is Tk 1 lakh 174 crore. In the next financial year, its amount can be increased to 1 lakh 12 thousand crores.

The biggest subsidy in the next financial year’s budget is likely to be given to the power sector. 42 thousand crore rupees can be allocated for power sector subsidy. The subsidy for electricity in the current financial year was Tk 35 thousand crore. According to this, electricity subsidy may increase by Tk 7000 crore in the next financial year compared to the current financial year.

Apart from this, in the budget of 2024-25 financial year, liquefied natural gas (LNG) import subsidy may be Tk 7,000 crore, agriculture Tk 25,000 crore, food subsidy Tk 7,000 crore and remittance may be Tk 6,200 crore.

1 lakh 32 thousand crore rupees can be earmarked for social safety net projects. The number of beneficiaries may increase to about 5 lakh. Capitation allowance may remain unchanged. However, senior citizens and widow, abandoned or destitute women beneficiaries are likely to increase their allowance. In case of senior citizens, an individual may be given an allowance of Rs 600 per month and widows, deserters or destitute women may be given an allowance of Rs 550 per month.

MAS/MKR/JIM