Special Correspondent :
Finance Minister Abul Maal Abdul Muhith will place the proposed national budget for the next fiscal (2018-19) at Jatiya Sangsad today (Thursday) targeting an economic growth of 7.8 percent.
He will start placing the country’s 47th national budget at 12.30 pm through a power point presentation in the House, according to Parliament secretariat.
This will be Muhith’s overall 12th national budget placement in Jatiya Sangsad and 10th for Awami League government in row. It is the last budget for the present government in its 2nd successive term before the upcoming national elections.
The total outlay of the proposed budget for the next fiscal would be Tk 4,64,573 crore. Of the total expenditure outlay, Tk 3,39,280 crore is estimated to come from revenue earnings, according to draft budgetary outlines.
The overall budget deficit would be Tk 1,25,293 crore (excluding grants), which is 5.0 per cent of GDP. Of this amount, Tk 50,016 crore will be financed from external sources and Tk 71,226 crore from domestic sources.
The proposed budget has been fixed the NBR’s revenue collection target at Tk 2,96,201 crore, non-NBR tax at Tk 9,727 crore, non-tax receipts at Tk 33,352 crore and Tk 4,051 crore is estimated to come from foreign grants.
According to draft budgetary outlines, Tk 2,82,415 crore would be fixed as non-development revenue expenditure and Tk 1,89,669 crore development expenditure including Tk 1,73,000 crore Annual Development Programme (ADP).
Out of the total non-development expenditure, Tk 51,340 crore would be spent for interest payment of the government’s internal and external debt.
Muhith earlier said that transport, power, physical infrastructure and education sectors would get the biggest chunk of money in the development budget.
“The budget will reflect the continuation of the ruling Awami League government’s economic policies although it is going to unveil ahead of the upcoming parliamentary election. The government has maintained strict fiscal disciplinary policy since 2009 and will continue to do so,” Muhith told this at a pre-budget media briefing on Monday.
