Finance minister AHM Mustafa Kamal, in his maiden budget speech, projected Gross Domestic Products (GDP) growth rate at 8.2 percent for FY2019-20.
While placing the Tk 3.23 trillion budget on Thursday afternoon (June 13), Kamal set the new GDP saying the inflation will come down to 5.5 per cent by the end of the fiscal year.
In the proposed budget, total revenue collection has been estimated to be Tk. 3,77,810 crore in the FY2019-20 which is 13.1 per cent of GDP and deficit of the budget with Tk 1,45,380 cr crore deficit which is 5 percent of GDP.
Out of this, Tk. 3,25,660 crore will be collected through the National Board of Revenue. Tax revenue from non-NBR sources have been estimated at Tk. 14,500 crore. Besides, non-tax revenue is estimated at Tk. 37,710 crore.
In his budget script, Mustafa Kamal mentioned “Our commitment is to achieve a growth rate of 10 percent by FY2023-24, and maintain that rate until 2041 so that we can lay a solid foundation for becoming a high income country by that time.