Muhith to unveil budget for FY16 tomorrow

Finance minister Abul Maal Abdul Muhith is placing the national budget for 2015-16 financial year (FY16) at the Jatiya Sangsad at 3:00pm on Thursday, reports Bangladesh Sangbad Sangstha.
This will be the country’s 44th budget and the 16th of the Awami League government while the 9th for Muhith.Muhith, however, is the first finance minister who is placing the national budget for the seventh time in a row since 2009-10 fiscal year.He also presented two more national budgets for the 1982-83 and 1983-84 financial years.Last year, the finance minister announced that the budget would have the mechanism and the dynamism for luring growth fostering investment and reducing income disparity to bring more people out of poverty.
This year, he would draw the salient features of the budget with the major targets of raising GDP (gross domestic product) growth with maintaining price stability, enhancing the rate of investment, and improving the power and energy, and physical infrastructure further with special attention to human resources development.
Amidst the nearly three-month long political turbulence, the finance minister showed his high optimism saying confidently that the political unrest would not hurt the economy as much as many apprehended.
Muhith announced that he would take a different approach this year in the national budget and the fiscal policy to achieve the targeted growth in the economy.
The minister already hinted that the target for GDP growth would be set at 7.2 to 7.3 percent for FY16 when he would focus on human resource development for driving economy to a higher growth trajectory.
The finance minister, however, made it clear that the government would not shift from the target of addressing infrastructure, gas and power, but would take a different approach towards addressing further the development in education, health and other social sectors as achieving higher growth in future hinges on human source development.
Like previous year, the budget this year too will be presented on PowerPoint and will be made available on the website of the finance department at www.mof.gov.bd. The budget documents will also be available at www.bangladesh.gov.bd, www.nbr-bd.org, www.plancomm.gov.bd, www.imed.gov.bd, www.bdpressinform.org and www.pmo.gov.bd and at the BSS website www.bssnews.net.
Any person or organization in home and abroad can send their feedback, opinion or recommendation by filling up a form after downloading it from the website.
The finance minister will address a post budget press conference at the Osmani Memorial Auditorium at 4:00pm on Friday, June 5.

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