An overall expenditure outlay of Tk 5,23,191 crore is likely to be proposed in the budget for the next financial year to be placed in parliament by finance minister AHM Mustafa Kamal on Thursday.
Finance ministry officials said that the overall expenditure was likely to be 18.1 per cent of the projected Tk 28.85 lakh crore GDP in the financial year 2019-20.
They also said that the overall revenue income might be projected at Tk 3,77,810 crore and thrust would be given to net new tax payers to attain the income target in FY20 beginning from July 1.
The size of deficit is likely to be projected at Tk 1,45,380 crore.
For financing of the projected deficit, the government is likely to borrow Tk 60,000 crore from the foreign sources, Tk 54,800 crore from the banks and Tk 30,800 crore from non-bank sources, including saving certificates.
The government has set the size of the annual development programme at Tk 2,02,721 crore for FY20 with transport sector once again getting the highest allocation.
Of the new ADP, Tk 1,30,921 crore or 64.58 per cent will be generated from the local sources while the remaining Tk 71,800 crore or 35.42 per cent would come from foreign sources as project assistance.
The government is likely to project growth of GDP at 8.2 per cent and the rate of inflation at 5.5 per cent in the new financial year which was decided at a meeting of the country’s macro-economy and budget monitoring at the finance ministry in March.
The proposed budget is going to be highlighted as a short speech would break with a long tradition of lengthy budget speech.
The officials said that unlike the traditional speech covering more than 100 pages, the upcoming budget speech to be delivered by a businessman-turned-politician first time would be of 50 pages.
The first 40 pages are expected to contain projections over economic indicators like gross domestic product, inflation, export and import while the last 10 pages are likely to deal with the revenue-related announcements.
To make the short budget speech attractive, graphics and documentaries would be shown in multimedia presentation before the beginning of the speech and at intervals to highlight various economic developments, the officials said.
News Courtesy: www.newagebd.net