The finance minister is set to announce a budget of Tk 6,03,681 crore for the fiscal year 2021-22, which would be 6.28 percent more than the previous budget.
It is going to be the 51st budget of independent Bangladesh, the 21st of the Awami League government, the 13th consecutive for the present government and the third by Finance Minister AHM Mustafa Kamal.
Emphasis is being laid on health, agriculture, social security, employment, food security and disaster management in the budget for the next 2021-22 fiscal year, according to the Ministry of Finance.
At the same time, the issue of food security will be given special importance and there will be special guidelines on ensuring food security for millions of people who have become unemployed due to the outbreak of Coronavirus. In addition, various short, medium- and long-term plans will be assimilated in the budget to address the economic and social risks posed by the Covid-19 pandemic.
The target for GDP growth in the next financial year has been set at 7.2 percent while Inflation has been targeted at to keep between 5.3 percent. In the main budget of the current financial year, the GDP growth rate was estimated 8.2 percent. But, later in the revised budget, it has been reduced to 6.1 percent. In the next financial year, the total size of GDP is estimated at Tk 34.56 lakh crore which leads the size of this budget stand at 16.48 percent of GDP.
According to sources, 3,89,78 crore Tk will be summed from internal sources. As a result, the overall budget deficit stands at Tk 2,14,603 crore which stands at 6.21 percent of GDP. The overall budget deficit for the current fiscal year 2020-21 was estimated at Tk 190,000 crore (6 per cent of GDP). As such, the deficit in the next budget is increasing to Tk 24,603 crore.
Tk 1 lakh 30 thousand 3 crore may be taken from internal sources in the budget to fill the deficit. Of this, Tk 93,000 crore may be borrowed from the banking system, Tk 32,000 crore from the savings sector and Tk 5,003 crore from other sources. The remaining deficit of Tk 84,600 will be borrowed from foreign sources.
Meanwhile, the main budget for the current financial year had set a target of borrowing Tk 84,960 crore from the banking system, Tk 20,000 crore from the savings sector and Tk 5,003 crore from other sectors. In the main budget of the current financial year, the target for borrowing from foreign sources was Tk 76,004 crore.
The overall plan has already been completed including all the preparations to ensure health protection in the budget announcement in the event of Corona epidemic. Like last time, the number of MPs will be limited to 100 to 120 people per working day by roster and they all must have a Corona Negative Certificate to join.
