• Monday, Nov 29, 2021
  • Last Update : 02:19 am

Budget FY21: Over 11% to be spent on loan interest

  • Published at 06:55 pm June 11th, 2020
WEB_Loan
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The finance minister proposes to spend Tk63,801 crore to pay interest on loans

More than 11% of the proposed revenue expenditure in the new national budget will be spent in paying interest on loans.

Finance Minister AHM Mustafa Kamal, in his budget proposal for FY2020-21 on Thursday, said he planned to spend Tk63,801 crore in interest payments, which stands at 11.23% of the total budget.

The size of the total expenditure has been estimated at Tk568,000 crore, accounting for 17.9 percent of the gross domestic product (GDP), he said. 

Total allocation for operating and other expenditures is estimated at Tk362,855 crore, while the allocation for the annual development program (ADP) is Tk205,145 crore.

As much as Tk4,777 crore has to be paid for net lending and other expenses, which is 0.84% of the total allocation, said Finance Minister Kamal.

Social infrastructure programs have received a proposed allocation of Tk155, 536 crore, which is 27.38% of the total allocation.

“Allocation proposed for the physical infrastructure sector will be Tk167,011 crore or 29.40%, in which Tk69,553 crore will go to overall agricultural and rural development, Tk61,435 crore to overall communications, and Tk26,758 crore to power and energy.” 

A total Tk140,265 crore has been proposed for general services, which is 24.69% of the total allocation, he said. 

He said Tk36,610 crore is proposed for public-private partnerships (PPP), financial assistance to different industries, subsidies, and equity investments in nationalized corporations, banks, and financial institutions, which is 6.45% of the total allocation.

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