Budget targets revenue of Tk 433,000cr...

Budget targets revenue of Tk 433,000cr

 Staff Correspondent daily-bangladesh.com

 Published: 05:51 PM, 9 June 2022  

File Photo

File Photo

The government is targeting total revenue earnings of Tk 4,33,000 crore in the next fiscal year (2022-2023).

Out of the targeted revenue collection, the National Board of Revenue (NBR) will realize Tk 3,70,000 crore and another Tk 63,000 crore will be collected from other sources, Finance Minister AHM Mustafa Kamal said while placing the proposed national budget for FY23 at Jatiya Sangsad on Thursday.

In contrast, the total size of the expenditure budget has been estimated at Tk 678,064 crore, which is 15.2 percent of GDP.

A total of Tk 431,998 crore for operating and other expenditures while Tk 2,46,066 crore for the Annual Development Programme (ADP) has been proposed.

To meet the deficit between income and expenditure, the overall budget deficit for the proposed budget will be Tk 2,45,064 crore which is 5.5 percent of GDP.

The budget deficit in the last budget was 6.2 percent of GDP. The deficit will be financed from domestic and external sources.

In the proposed budget, the allocation for the social infrastructure is Tk 1,83,425 crore which is 27.05 percent of the total allocation; out of this, the allocation for the human resources sector (education, health and other related sectors) is Tk 1,67,524 crore.

An allocation of Tk 2,00,860 crore for the physical infrastructure sector has been proposed which is 29.62 percent of the total allocation.

Out of this Tk 86,798 crore will go to the overall agriculture and rural development sub-sector, Tk 79,026 crore will go to the communication infrastructure sub-sector, and Tk 26,065 crore allocation has been proposed for the power and energy sub-sector.

An allocation of Tk 153,208 crore has been proposed for general service sectors which is 22.59 percent of the total allocation. A total of Tk 53,155 crore has been proposed for public-private partnership (PPP), financial assistance to different industries, subsidies, and equity investments in state-owned, commercial and financial institutions, which is 7.84 percent of the total allocation.

Besides, an allocation of Tk 80,375 crore has been allocated for the payments of interest – which is 11.85 per cent of the total allocation. For net lending and other expenses, Tk 7,041 crore has been proposed which is 1.04 percent of the total allocation.