Interim government budget size approximately 8.5 lakh crores

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Interim government budget size approximately 8.5 lakh crores

BM Desk : The budget for the fiscal year 2025–2026 can be set at 8.5 lakh crore taka. The budget aims for GDP growth of 5.5% and inflation of 7%.

The new budget, according to sources in the Finance Ministry, will keep the subsidies in place for the power, fertilizer, and agriculture sectors. The budget speech will be brief, lasting between fifty and sixty pages. Additionally, some adjustments will be made for tax administration that is business-friendly.

Due to the lack of a political administration, the budget will not be presented in parliament this year. As a result, this budget will be shown on television, just like it was during the previous caretaker administration.

This budget will be announced in early June on the occasion of the Muslim religious festival of Eid-ul-Azha. Finance Advisor Salehuddin Ahmed will present the budget and it will be announced through a presidential ordinance.

The work of writing the budget speech is underway and Finance Secretary Md. Khairuzzaman Majumder has sent letters to the secretaries of the concerned ministries to collect necessary information.

Due to high inflation in the current fiscal year, the new budget aims to bring inflation down to 7 percent. The previous budget had a deficit of Tk 2.56 trillion and it may be kept below 5 percent of GDP in the next budget as well.

The budget intends to prioritize funding for the fields of social security, education, health, and information technology. While Tk 2.65 trillion was allotted in the budget, Tk 40 trillion was spent on the Annual Development Program (ADP) in the current fiscal year 2024–2025.

The Sheikh Hasina government’s initial budget of Tk 7.97 trillion for the current fiscal year 2025–2025 was announced by Finance Minister Abul Hasan Mahmud Ali. It was later changed, and attempts were made to keep it to Tk 7.5 trillion.

The budget for fiscal year 2023–2024 was previously Tk 7.61 trillion. In the updated budget, it was lowered to Tk 7.14 trillion.

 

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