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Budget session begins on June 11


Published : 07 May 2020 10:51 PM | Updated : 07 Sep 2020 08:54 PM

The budget for fiscal year 2020-21 is set to be placed in the parliament on June 11, finance minister AHM Mustafa Kamal on Thursday said.

“Placing of budget in the parliament will not be delayed. It is a constitutional requirement. The budget will be placed in the parliament at the right time,” he said while briefing journalists online yesterday.

The Finance Division has asked related organisations, professionals, researchers and economists to give their opinions on the upcoming budget online so that their opinions can be considered at the pre-budget meeting, he added.

“We will consider their opinions to place a more accurate budget which will be acceptable by all”, the minister said.

The size of the new budget may be around Tk 5,60,000 crore,  officials concerned said. 

At the last moment, the size of the budget may increase further, they added.

The revenue collection target of the National Board of Revenue (NBR) was Tk 3,25,ooo crore for the current financial year, they said adding that, in the next budget, the revenue collection target may be Tk3,95,000 crore.

Of this, Tk3,30,000 crore can be targeted from tax under the NBR, and Tk65,000 crore from tax outside the NBR and revenue sectors without tax, they further said.

The finance ministry expects to get Tk5,000 crore foreign donation in next fiscal year. Budget deficit can cross Tk1.60 lakh crore, he mentioned.

The upcoming budget has emphasized on health, social safety net, agriculture, rural development and mega projects to build strong economy and get prepared to tackle any probable future economic crisis, they informed.