Budget approved in the meeting of the Advisory Council

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Budget approved in the meeting of the Advisory Council

BM Desk: The 7 lakh 90 thousand crore taka national budget for the fiscal year 2025–2026 has been approved by the Advisory Council. In a meeting presided over by Chief Advisor Dr. Muhammad Yunus on Sunday, June 22, the budget plan was finalized. Nevertheless, this year’s budget does not retain the option to whiten black money.
This budget will begin to be implemented on July 1. The announced budget has not changed significantly. However, the chance to use black or hidden money to purchase apartments and create new buildings has been taken away in response to criticism. With the new budget, the interim administration hopes to increase by 5.5%.

The government would borrow 1 lakh 25 thousand crore taka from domestic sources to cover the 2 lakh 26 thousand crore taka budget shortfall. Additionally, it plans to borrow one lakh one thousand crore taka from overseas sources.
Because parliament was not present, there was little debate about the budget this time. On the Finance Department’s website, there was a chance to voice opinions. Press conferences were organized by a few associations and chambers. A few have had further meetings with the finance advisor.
62 ministries and departments received a net allocation of Tk 7.97 trillion in the initial budget for the current fiscal year. Ten ministries and departments now have Tk 1.3 trillion more allocated to them in the updated budget. The budgets of the remaining 52 ministries and departments have decreased, while some have remained unchanged.

Remarkably, on June 2, Finance Advisor Salehuddin Ahmed delivered the budget via television because the parliament was not in session. The budget is Tk 7.9 trillion smaller than it was in the previous fiscal year. It is the NBR’s goal to acquire Tk 4.99 trillion. According to estimates, the budget deficit is 3.6% of GDP.

 

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