NBR receives gigantic target of Tk325,660 crore
The government has proposed to set the total revenue target for the upcoming fiscal year (FY2019-20) at 377,810 crore, including both tax and non-tax revenue.
The National Board of Revenue (NBR) has been assigned a collection target of Tk325,660 crore, while tax revenue from non-NBR sources have been estimated at Tk14,500 crore.
Non-tax revenue is estimated at Tk37,710 crore.
On the other hand, the size of the total expenditure for next fiscal year has been estimated at Tk523,190 crore, which is 18.1% of the GDP (gross domestic product).
Total allocation for operating and other expenditures is Tk320,469 crore, and allocation for the annual development program is Tk202,721 crore, as per Finance Minister AHM Mustafa Kamal's budget speech read out in parliament on Thursday.
The overall budget deficit will be Tk145,380 crore or 5% of the GDP—the same ratio the government had set for the outgoing fiscal year (FY2018-19).
In financing the deficit, Tk68,016 crore will come from external sources and Tk77,363 crore from domestic sources.
Amongst the financing from domestic sources, Tk47,364 crore will come from the banking system and Tk30,000 crore from savings certificates and other non-bank sources.