Muhith To Buff Budget Abroad
Sunday, 31 May 2009

Finance minister AMA Muhith says he will be putting final touches to the budget of 2009-10 fiscal year outside the country.

He will leave Dhaka on Monday morning to attend the annual conference of Islamic Development Bank (IDB) at Ashgabat, the capital of Turkmenistan and be back on June 4.

Since he will remain out of the country for three days he will do the last-minute work in Ashgabat.

"I will have to attend the conference of IDB, a significant partner in our development efforts. I will do the last-minute polishing in the three days outside the country," he told at the Secretariat.

The budget session will start on June 4 and the finance minister will present the budget in parliament on June 11.

He has given some inkling of the upcoming budget at some pre-budget discussions.

He said that this time it will be a big budget because it will entail measures to offset the impact of international recession, deliver on campaign pledges of the government and hike pay of civil servants.

It will be between Tk 1.10 lakh crore to Tk 1.15 lakh crore and the revenue expenditure will be around Tk 80,000 crore. The size of current budget is Tk 99,962 crore

In the mean time, Tk 30,500-crore annual development programme (ADP) has been approved in the meeting of National Economic Council.

The ADP for the current fiscal year was Tk 25,600 crore, approved by the 2007-2008 caretaker government.

It has been curtailed to Tk 23,000 crore in the NEC meeting on poor implementation.

The new ADP will be Tk 4,900 crore more than the current ADP and Tk 7,500 crore more than the revised ADP.

The revenue earning target will be over Tk 80,000 crore in the new budget (NBR and non-NBR sectors).


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