Proposed budget will boost economy: Finance Minister...

Proposed budget will boost economy: Finance Minister

 Staff Correspondent

 Published: 06:24 PM, 10 June 2022  

Finance Minister AHM Mustafa Kamal- File Photo

Finance Minister AHM Mustafa Kamal- File Photo

Finance Minister AHM Mustafa Kamal has said that the country's economy will be much stronger than before if the proposed budget for the fiscal year 2022-23 is implemented.

He was speaking at a post-budget press conference at the Osmani Memorial Auditorium in the capital on Friday.

Finance Minister Mustafa Kamal said if the current budget is implemented, the country's economy will see a major boost.

Finance Minister AHM Mustafa Kamal announced a proposed budget of Tk 6,78, 64 crore in the parliament on Thursday. This is his 4th budget in a row and also the overall 51st budget of the country. 

The overall budget deficit for the proposed budget will be Taka 2,45,064 crore which is 5.5 percent of GDP. In the last budget, the deficit was 6.2 percent of GDP. The deficit will be financed from domestic and external sources. The potential revenue target of the government is estimated at Tk 4,36,271 crore.

Responding to a question from reporters about the budget, the finance minister said if the money smuggled abroad is brought back to the country, there should be no question about the opportunity to launder black money in exchange for taxes.

In the budget, the government offered Bangladeshis a scope for legalising their unreported assets outside the country without facing any questions in the next fiscal year.

Agriculture Minister. Abdur Razzak, Minister of State for Planning Shamsul Alam, Railway Minister Nurul Islam Sujon, Education Minister Dr Dipu Moni, Health Minister Zahid Maleque, Fisheries and Livestock Minister Sham Rezaul Karim, Posts and Telecommunications Minister Mostafa Jabbar, Shipping Minister Khalid Mahmud Chowdhury, Science and Technology Minister Yafes Osman, Bangladesh Bank Governor Fazle Kabir, NBR Chairman, Finance Secretary, Planning Ministry Secretary were present.