Bonik Barta photo: Finance Minister Abul Hassan Mahmood Ali Finance Minister Abul Hassan Mahmood Ali placed the proposed budget for fiscal year 2024-25 at the Parliament on Thursday. This is his first budget as the finance minister.
The highlights of the proposed budget are as follow:
Total proposed budget -- Taka 7.97 trillion, which is 14.2 percent of the GDP
GDP growth target -- 6.75 percent
Revenue target -- Taka 5.41 trillion
Out of this, Taka 4.80 trillion to be collected through National Board of Revenue (NBR) and Taka 610 billion from other sources
Budget deficit -- Taka 2.56 trillion (4.6 percent of GDP)
Out of the total deficit, Taka 1.61 billion is proposed to be financed from domestic sources and Taka 951 billion from external sources
The average inflation is 6.5pc in 2023-24 fiscal year (FY)
Tax-free income limit: Taka 3.5 lakh for individual taxpayers
Corporate tax rates 25 percent
Priority has been given on education, health, agriculture, local government and rural development, power, communication, and Science and Technology sectors
