Budget session begins today

The budget session of the 11th parliament will begin today.

President Md Abdul Hamid called for the budget session on May 18.

Finance Minister AHM Mustafa Kamal is scheduled to place the national budget for FY23 in the parliament on June 9.

This will be the fourth budget presented by the current finance minister.

The tenure of the session will be determined in a meeting of the Business Advisory Committee to be held today with Speaker Dr Shirin Sharmin Choudhry in the chair.

On May 17, the National Economic Council (NEC) approved a Tk 2,46,066.09 crore Annual Development Programme (ADP) for FY23 giving highest allocation to the transport and communication sector alongside putting priority on ensuring optimum utilisation of public fund through checking misuse. NEC Chairperson and Prime Minister Sheikh Hasina presided over the meeting virtually from Ganabhaban.

Out of the original ADP outlay of Tk 2,46,066.09 crore, Tk 1,53,066.09 crore will come from the local sources while the rest of Tk 93,000 crore as project assistance.

However, considering an allocation of Tk 9,937.18 crore against the autonomous bodies and corporations, the overall ADP allocation for the next fiscal reached Tk 2,56,003.27 crore.