Budget session begins at parliament

With a 7.2 per cent GDP growth projection, Finance Minister AHM Mustafa Kamal is placing the 50th budget for the fiscal year 2021-22 in Parliament Thursday.

Taking the ongoing Covid-19 pandemic’s impacts on peoples’ lives into consideration, the budget for FY22 set the theme “Bangladesh Towards a Resilient Future Protecting Lives and Livelihoods”.

The national budget for 2021-22 aims to restore the momentum of the pandemic-hit economic growth.

As per the data obtained from different sources at Finance Ministry and the National Board of Revenue (NBR), the size of the budget for FY22 would be Tk 603,681 crore.

The size of the budget for FY22, is Tk 35,681 crore higher than the original budget size of the current fiscal year, which is Tk 5,68,000 crore.

To retain the growth, ensure economic recovery from the Covid-19 pandemic and address the new challenges caused by the pandemic, the budget will give special priority to health, agriculture, social safety nets, employments, food and disaster management and food security.

The GDP size for the next fiscal has been set at Tk 34,73,911 crore.

In the proposed budget, the deficit would be Tk 2,14,681 crore and it will mainly be filled from the banking sector as there is sufficient liquidity.

The government is putting its focus on expanding the net to collect more revenue to tackle the big expenditures proposed in the budget.

The total revenue collection has been fixed at Tk 392,490 crore, which is 11.35 per cent of the GDP.