Minister of Finance AHM Mustafa Kamal has proposed a budget of Tk 6 lacs 78 thousand and 64 crores for the fiscal year 2022-23. The size of this year’s budget is 15.2% of GDP. The Minister of Finance has proposed to allocate a total of Tk 4 lacs 31 thousand and 998 crores in other sectors including management and Tk 2 lacs 46 thousand and 66 crores in the annual development program.
On Thursday (9 June), AHM Mustafa Kamal presented the proposed budget for the fiscal year 2022-23 in the National Parliament.
In the proposed budget, the total revenue target has been set at Tk 4 lacs and 33 thousand crores. Of this, Tk 3 lacs and 70 thousand crores will come from NBR-collected tax, Tk 18 thousand crores will come from non-NBR tax and non-tax revenue is expected to be Tk 45 thousand crores. As a result, the total deficit will stand at Tk 2 lacs 45 thousand and 64 crores, which is 5.5% of GDP. In the last budget, this rate was 6.2%. It has been informed that this deficit will be met from domestic and foreign sources.
In the deficit, Tk 98 thousand and 729 crores will come from foreign sources including grants; and Tk 1 lac 46 thousand and 335 crores will come from internal sources, of which Tk 1 lac 6 thousand and 334 crores will be taken from the banking sector. The size of GDP has been estimated at Tk 44 lacs 49 thousand and 959 crores.
In his budget speech, the Minister of Finance said that like every year, the lion’s share of the total budget expenditure this year will come from internal resources. This expenditure will come from the revenue collected by the National Board of Revenue. The target of internal revenue collection is determined by considering the size of the budget.
