Staff Reporter :
In the upcoming budget for FY 2022-23, the government is going to put special emphasis on health, education and job creation.
Besides, the fuel, electricity, gas, and fertilizers will have special attention in the upcoming budget.
Finance Minister AHM Mustafa Kamal will table the budget at the National Parliament on June 9. The budget documents have almost been finalised through a presentation before Prime Minister Sheikh Hasina on May 9, sources said.
This year the size of the budget is Tk 6,77,864 crore, which is 15.40 percent of the Gross Domestic Product (GDP).
However, the experts said that the government has to face a number of challenges in the formulation of budget because post-Covid situation is a major issue.
The government has to include special initiatives in the budget to provide additional protections for the segment of population to make up the loss in the pandemic, they said, adding that the government has to pay special attention to the inflation as well.
In FY2021-22 the size of the budget was Tk 6,3,618 and in the upcoming budget additional Tk74,183 crore will be added.
The inflation rate in this year’s budget will be 5.5 percent which was 5.3 in the FY 2021-22.
The total investment is estimated 31.5 percent of the GDP. Of it, 24.9 percent will come from private sector while the government will invest 6.6 percent.
Finance Division sources said, the estimated subsidy in food grains in the FY2022-23 is Tk6,745 core. In the current fiscal 2021-22, a total of 32.56 lakh metric tonnes of food grains have been procured.
Steps have been taken to distribute 32.75 lakh metric tonnes. The total progress of food grains procurement is about 75 percent.
On the other hand, the power sector will require about Tk 18,000 crore as subsidy in the upcoming fiscal if the price is not adjusted.
And for the Liquefied National Gas (LNG), there is a plan for the allocation of Tk 17,300 crore if the gas price is not adjusted.
The agricultural subsidy has been estimated Tk15,000 crore in FY2022-23 if the fertilizer price is not adjusted.
The estimated income in the FY2021-22 was Tk3,89,000 crore and this year it is Tk4,33,000 crore, which is 9.8 percent of the GDP.
In the current fiscal, National Board of Revenue (NBR) has a target of Tk3,30000 crore and in the upcoming fiscal it is estimated Tk 3,70,000 crore, which is 8.4 percent of the GDP.
In the upcoming budget, a total of Tk 80,275 crore has been allocated to pay the interest of the local and foreign loans.
Economist said, the government has to be more cautious keeping the current global and domestic situation in mind.
