Finance Minister AMA Muhith on Sunday said the initial projection of the country’s budget for the next fiscal year is Tk468,000 crore while the major focus will be given on the development of human resources.
“This is a figure for us to start thinking and the actual process will begin in February,” he said during a meeting with journalists at the Finance Ministry auditorium.
“There will be nothing new or innovative in the budget as this is the last budget of our government’s tenure. But as we hope that we shall come back in power again, the next budget is something that we want to be implemented,” Muhith said following two meetings with fiscal coordination council and the budget implementation committee.
The minister said the education sector will receive a very high priority in the next budget – not in terms of allocation but in terms of implementing the targets.
Asked how the National Board of Revenue performed in revenue collection, Muhith said: “So far the revenue collection is okay but the good thing is the number of taxpayers has enormously increased this year.
“The number of returnees has reached 32 lakh [3.2 million] whereas I had set a limit of 25 lakh [2.5 million], and most of them are below the age of 40.”
Muhith also projected a 7.4% GDP growth for the current fiscal year as the overall performance during the first quarter was satisfactory.
“The revised budget stands at Tk3,71,000 crore from the existing outlay of Tk4,00,266 crore and growth rate will be not below 7.4% despite the huge crop loss caused by the recent floods,” he said.
The minister further assumed that the government would have to allocate a certain provision for the Rohingya refugees in the next budget as all of them may not be repatriated by next year.