Govt expenditure cut by Tk47,367cr in revised budget

The government has reduced its expenditure by Tk 47,367 crore in the revised budget for the outgoing  fiscal year 2023-24, bringing it down to Tk 714,418 crore.

In the budget for FY24, total government expenditure was estimated at Tk 7,61,785 crore.

However, considering overall government expenditure till April, it was proposed to be reduced by Tk 47,367 crore, according to the proposed budget for FY25 placed on Thursday at Jatiya Sangsad Bhaban, reports BSS.

Of this, the allocation for Annual Development Programme (ADP) is proposed to be Tk 245,000 crore, down by Tk 18,000 crore from the original allocation.

In the budget for the current fiscal year, a deficit of Tk 261,785 crore was projected.

In the revised budget, a deficit of Tk 236,418 crore is proposed, which is 4.7 per cent of Gross domestic product (GDP).

It is noteworthy that the deficit was projected at 5.2 per cent of GDP in the original budget.

The revised budget proposed to finance Tk 156,625 crore of the total deficit from domestic sources and the remaining Tk 79,793 crore from foreign sources.