Country’s 53rd budget to be announced today

Finance Minister Abul Hassan Mahmood Ali is set to unveil a proposed Taka 7,96,900 crore national budget for the next fiscal year (FY25) at Jatiya Sangsad (JS) on Thursday (June 6). This is the first budget of the fourth consecutive term of the government led by Awami League president Sheikh Hasina.

This will be the country’s 53rd budget and the finance minister will present it at 3:00pm. This budget for FY25 will be the maiden budget of incumbent Finance Minister AH Mahmood Ali.

Finance ministry sources said that the size of the proposed budget will be Tk 7,97000 crore. In the budget, the target of total income including revenue income is Tk 5,41000 crore. The finance minister will have to rely heavily on bank borrowing to meet the projected budget deficit of Tk 2,56000 crore.

Annual Development Program (ADP) of Tk 2,65000 crore has already been approved.

The budget is expected to be passed on June 30.

Sources in the National Board of Revenue said that several essential products may get tax exemption to control inflation.