Tk 678,064cr budget passed

A national budget of Tk 6,78,064 crore for fiscal year 2022-23 was passed in parliament yesterday.

Finance Minister AHM Mustafa Kamal placed the budget before the parliament on June 9. It was unanimously passed by voice vote.

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The local government division got the highest allocation of Tk 41,407.

Another Tk 40,360 crore was allocated for the defense ministry and Tk 39,962 crore for the secondary and higher education division.

However, if the budgetary allocation for the repayment of the principal amount of loans taken from local and international lenders is taken into account, the gross budget amounts to Tk 8,83,751 crore.

The finance division received an allocation of Tk 3,65,177 crore, part of which will be used to repay the principal amount of domestic loans, while the economic relations division got Tk 25,093 crore, part of which will be used to repay the principal amount of foreign loans.

After two years of the pandemic, the government placed the budget with the theme “Return to the Path of Development Leaving the Covid-19 behind”.

In the budget, the government estimated the GDP growth target and inflation at 7.5 per cent and 5.6 per cent respectively.

Earlier, the parliament passed the finance bill on Wednesday changing cancelling two of the three provisions involving legalising laundered money and slashing the corporate tax for non-listed companies.

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