Finance Minister AMA Muhith has placing annual budget proposal around Tk2.95tn (Tk295,100 crore) for 2015-16 fiscal year.
The proposal of the country’s 44th budget placement began at 3:34pm Thursday.
Muhith is the first finance minister who is placing the national budget for the seventh time in a row since 2009-10 fiscal year.
Earlier in the afternoon, a cabinet meeting held at Sangsad Bhaban complex gave approval to the new budget with Prime Minister Sheikh Hasina in the chair.
The budget size of Tk2.95tn would be 18% higher than the outgoing fiscal year’s original budget of Tk2.5tn and 22.19% higher than the revised budget of Tk2.4tn.
The growth rate of gross domestic product (GDP) is 7% in the new fiscal year.
The budget for the FY16 will be passed on June 30, the last day of the outgoing 2014-15 financial year.
The finance minister will address a post budget press conference at the Osmani Memorial Auditorium in the capital at 4pm on Friday.
