Kazi Zahidul Hasan :
The government would set a 7.8 percent GDP growth target for the next fiscal (2018-19) to attain the status of developing countries.
Bangladesh economy is expected to grow by 7.5 percent in this fiscal as per an official projection.
The government also planned to set a revenue collection target of Tk 340,000 crore for the next fiscal year, officials said
Of the total target, contribution of the
National Board of Revenue (NBR) may be set at Tk 294,000 crore from Tk 225,00 crore in the revised budget for this fiscal.
Hinting that there would be no major changes in the upcoming budget, Finance Minister AMA Muhith earlier said that the size of it would be Tk 470,000 crore.
“Key budgetary outlines, including GDP growth and NBR’s revenue collection target for the next fiscal, would be finalized at the next meeting of the Fiscal Coordination Council,” an official related with the budget preparation told The New Nation on Saturday.
The meeting will be held on Monday at the Finance Ministry’s auditorium with Minister AMA Muhith in chair.
“Two major decisions are also expected to come from the meeting, one is allocation for Rohingya and the another is budget support from the World Bank,” the official said.
The government also planned to set a revenue collection target of Tk 340,000 crore in the next fiscal year.
Of the total target, contribution of the National Board of Revenue (NBR) may be set at Tk 294,000 crore, up by 17 percent from Tk 248,190 crore in the current budget (2017-18).
However, the target later slashed to Tk 225,00 crore in the revised budget for this fiscal amid collection shortfall resulted from non-implementation of VAT law.
“The government wants set a higher revenue collection target to the head of NBR in the next fiscal although the latter disagreed with the objective, citing it too high to achieve,” said the official.
The Finance Division sources have mentioned that the government will allocate Tk 2,000 crore next year for building Rohingya shelters at Bhashanchar.
The government provided Tk 1,800 crore budgetary allocation this fiscal for Bhashanchar project.
“A separate allocation may also be proposed for the Rohingaya refugees in the next budget,” said the official.
The official also said that the World Bank has already given assurance to finance division for providing US$750 million budgetary support for next fiscal. But it will release US$ 250 million in the first tranche.
The next budget will set aside Tk 1,500 crore recapitalization funds for the cash strapped public banks. An allocation of Tk 2,000 crore has been made in the budget for the current fiscal for this purpose.
The meeting will also discuss medium-term budgetary framework, review the current macroeconomic indicators, provide update on the nation’s economic outlook and forecast future growth. Bangladesh has been maintaining 6.0 percent plus growth over the last one decade and reaching to 7.3 percent in fiscal 2016-17.
The government would set a 7.8 percent GDP growth target for the next fiscal (2018-19) to attain the status of developing countries.
Bangladesh economy is expected to grow by 7.5 percent in this fiscal as per an official projection.
The government also planned to set a revenue collection target of Tk 340,000 crore for the next fiscal year, officials said
Of the total target, contribution of the
National Board of Revenue (NBR) may be set at Tk 294,000 crore from Tk 225,00 crore in the revised budget for this fiscal.
Hinting that there would be no major changes in the upcoming budget, Finance Minister AMA Muhith earlier said that the size of it would be Tk 470,000 crore.
“Key budgetary outlines, including GDP growth and NBR’s revenue collection target for the next fiscal, would be finalized at the next meeting of the Fiscal Coordination Council,” an official related with the budget preparation told The New Nation on Saturday.
The meeting will be held on Monday at the Finance Ministry’s auditorium with Minister AMA Muhith in chair.
“Two major decisions are also expected to come from the meeting, one is allocation for Rohingya and the another is budget support from the World Bank,” the official said.
The government also planned to set a revenue collection target of Tk 340,000 crore in the next fiscal year.
Of the total target, contribution of the National Board of Revenue (NBR) may be set at Tk 294,000 crore, up by 17 percent from Tk 248,190 crore in the current budget (2017-18).
However, the target later slashed to Tk 225,00 crore in the revised budget for this fiscal amid collection shortfall resulted from non-implementation of VAT law.
“The government wants set a higher revenue collection target to the head of NBR in the next fiscal although the latter disagreed with the objective, citing it too high to achieve,” said the official.
The Finance Division sources have mentioned that the government will allocate Tk 2,000 crore next year for building Rohingya shelters at Bhashanchar.
The government provided Tk 1,800 crore budgetary allocation this fiscal for Bhashanchar project.
“A separate allocation may also be proposed for the Rohingaya refugees in the next budget,” said the official.
The official also said that the World Bank has already given assurance to finance division for providing US$750 million budgetary support for next fiscal. But it will release US$ 250 million in the first tranche.
The next budget will set aside Tk 1,500 crore recapitalization funds for the cash strapped public banks. An allocation of Tk 2,000 crore has been made in the budget for the current fiscal for this purpose.
The meeting will also discuss medium-term budgetary framework, review the current macroeconomic indicators, provide update on the nation’s economic outlook and forecast future growth. Bangladesh has been maintaining 6.0 percent plus growth over the last one decade and reaching to 7.3 percent in fiscal 2016-17.
