The 12th JS has passed the Finance Bill to approve the budget for the fiscal year 2024-25. Finance Minister Abul Hasan Mahmud Ali presented the bill.
Although the Finance bill was passed on Saturday (June 29), the budget will be passed on Sunday after a long discussion and scrutiny. The speaker Dr. Shirin Sharmin Chowdhury will preside over the session.
Today, Sunday (June 30), the budget for the new financial year will be passed in the JS which will be effective from next day Monday (July 1). 264 members of JS participated in this year's budget discussion.
Earlier this month, on June 6, the size of the proposed budget for the next fiscal year was Tk. 7,97,000 crore. Compared to the fiscal year 2023-24, the size of this year's budget has increased by 4.6 percent. This is the 53rd budget of the country, the 25th of the Awami League-led government and the first budget of Finance Minister Abul Hasan Mahmud Ali.
The revenue target in the budget is 5 lakh 41 thousand crores. The remaining two lakh 56 thousand crores will be the target of borrowing. Annual Development Program (ADP) worth Tk. 265 thousand crore has already been approved.
In the proposed budget for the financial year 2024-25, the budget was announced with the slogan 'Commitment to build a happy, prosperous, developed and smart Bangladesh'. In the new budget sector-wise allocation is given. In the next budget, Tk. 7 lakh 97 thousand crore have been allocated to 15 sectors.
The sector-wise allocation is – Tk. 1 lakh 75 thousand 774 crore for public administration sector, Tk. 47 thousand 953 crore for local government and rural development sector, Tk. 42 thousand 14 crore for defense sector, Tk. 33 thousand 520 crore for public order and security sector, Tk. 1 lakh 11 thousand 157 crore for education and technology sector. Tk. 41 thousand 408 crore for health sector, Tk. 43 thousand 208 crore social security and welfare, housing sector Tk. 6 thousand 929 crore for housing sector, Tk. 6 thousand 700 crore entertainment , culture and religion sector, for power and energy sector Tk. 30 thousand 317 crore, Tk. 47 thousand 332 crore in agriculture sector, Tk. 5 thousand 694 crore for industry and economic services sector, Tk. 82 thousand 918 crore in transport and communication sector, Tk. one lakh 13 thousand 500 in interest sector and Tk. 8 thousand 576 in other sectors.