The proposed budget for the financial year 2024-25 has been announced in the Jatiyo Sangsad(JS). The size of this budget is Tk. 7 lakh 97 thousand crores which is the biggest in the history of the country.
Finance Minister Abul Hasan Mahmud Ali presented the proposed budget in the session of the Jatiya Sangsad at 3 pm on Thursday (June 6) under the title of 'Commitment to Building a Happy, Prosperous, Advanced and Smart Bangladesh'. This is his first budget as Finance Minister.
Though the size of the budget for the fiscal year 2024-25 has increased, the deficit is decreasing. Compared to the budget of the current fiscal year, the deficit in the next fiscal year's budget is estimated to be Tk. 5,785 crore. Without grants, the budget deficit has been estimated at Tk. 2 lakh 56 thousand crores. However, the total deficit including grants will stand at Tk. 2 lakh 51 thousand 600 crores. In other words, the target of receiving a grant of Tk. 4,400 crore has been set for the next financial year.
To meet the deficit, the target of foreign debt has been fixed at Tk. 1 lakh 27 thousand 200 crores. Tk. 36 thousand 500 crores of foreign debt will be repaid. In this, the net foreign debt will stand at Tk. 90 thousand 700 crores.
Tk. 1 lakh 60 thousand crores of domestic debt will be taken. Of this, Tk. 1 lakh 37 thousand 500 crores will be taken from the banking system, of which Tk. 72 thousand 682 crores are long-term loans and Tk. 64 thousand 818 crores are short-term loans. Tk. 23 thousand 400 crores of non-bank loans will be taken. The target for sale of savings bonds is Tk. 15,400 crore.
In the budget of the financial year 2024-25, the interest payment cost of the loan has been estimated at Tk. 1 lakh 13 thousand 500 crores. Out of this, interest on domestic debt is Tk. 93 thousand crores. And foreign loan interest is Tk. 20 thousand 500 crores.
In the budget, the revenue target has been fixed at Tk. 5 lakh 41 thousand crores. Out of this, the target of National Board of Revenue (NBR) is Tk. 4 lakh 80 thousand crores. Tk. 15 thousand crores of non-NBR tax has been assessed. And the target of receipt without tax has been fixed at Tk. 46 thousand crores.
Matters that have been given importance in the budget
Protecting economic stability, ensuring science education, scientific research and innovation-supportive educational environment, providing necessary support to the agricultural sector and ensuring food security, improving and expanding basic health services, ensuring youth training and self-employment, using technology at all levels including digitizing all possible services, physical Development of infrastructure, optimal use of marine resources, ensuring discipline in the financial sector, eradicating extreme poverty by 2031 and reducing the general poverty rate to three percent by 2041, ensuring a supportive environment for setting up industries and investments, taking steps to combat the effects of climate change, public welfare oriented, accountable, Building efficient and smart administration and continuing zero tolerance policy against corruption.
In the budget speech, the Finance Minister said that the people of this country are the true claimants of all our glorious achievements. Utilizing this manpower, today we are running at an unstoppable speed under the visionary and strong leadership of the Prime Minister Sk. Hasina. By already fulfilling all the necessary conditions, we have confirmed the transition to the ranks of developing countries in 2026. Now it's time to move forward.