Special cabinet meeting on budget

The proposed budget for the 2024-25 fiscal year will be presented to Parliament this afternoon. A special Cabinet meeting is currently underway at the National Parliament House to finalize the budget.

The meeting, chaired by Prime Minister Sheikh Hasina, began at 12 PM on Thursday, June 6. During this meeting, the proposed budget for the 2024-25 fiscal year will be approved.

Following the Cabinet‍‍`s approval, President Md. Sahabuddin will sign the proposal. Finance Minister Abul Hasan Mahmud Ali is scheduled to present the budget for the 2024-25 fiscal year at 3 PM.

The theme of the proposed budget is "Commitment to Building a Happy, Prosperous, Advanced, and Smart Bangladesh."

Today, the largest budget in the country‍‍`s history will be announced. This marks the 53rd budget of independent Bangladesh and the first budget of the fourth consecutive term under Prime Minister Sheikh Hasina‍‍`s leadership. The 2024-25 national budget aims to bring significant changes to the revenue sector. The budget size is expected to be Tk 7.97 trillion.

For the 2024-25 fiscal year, the National Board of Revenue (NBR) has set a target of Tk 4.8 trillion. The budget deficit is projected at Tk 2.56 trillion. Compared to the current 2023-24 fiscal year, the budget size has been increased by 4.62 percent.

The budget includes a target of Tk 1.27 trillion from foreign loans and Tk 1.37 trillion from bank loans. The expenditure for loan interest payments is set at Tk 1.135 trillion. Additionally, the target for savings certificate sales is Tk 154 billion.