Kamal Starts Placing Tk 7,61,785Cr Budget for FY 23-24

Finance Minister AHM Mustafa Kamal has started placing a Taka 7,61,785 crore budget for the next fiscal year (FY24) with a philosophy of building hunger and poverty-free, knowledge-based, and developed 'Smart Bangladesh' by 2041.

“The budget size for the next FY2023–24 is estimated at Tk 7 lakh 61 thousand 785 crore, which is 15.2 percent of the GDP,” he said while placing his budget speech for the next fiscal year at Jatiya Sangsad today.

Kamal, wearing a traditional Panjabi and Pajama with a black ‘Mujib coat’ started placing his 248-page budget speech featuring a PowerPoint presentation just after 3:00 pm in the presence of the leader of the house and Prime Minister Sheikh Hasina.

The budget session was resumed today with Speaker Dr. Shirin Sharmin Chaudhury in the chair.

The Finance Minister proposed to allocate a total of Tk 4,36,247 crore to operating and other sectors and Tk 2,63,000 crore to the Annual Development Programme. 

In the proposed budget for FY24, the total revenue is estimated at Tk 5 lakh crore. “Out of this, I propose to collect Tk 4 lakh 30 thousand crores through the National Board of Revenue and Tk 70 thousand crores from other sources,”

The overall deficit in the proposed budget will stand at Tk 2,61,785 crore, which is 5.2 percent of GDP.

It should be noted here that the deficit rate was 5.5 percent in the previous budget. 

Out of the total deficit, Tk 1,55,395 crore is proposed to be financed from domestic sources and Tk 1,02,490 crore from external sources.