FY20 budget sets revenue target of Tk 3.77 trillion

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Bangla Tribune Report
Published : 15:46, Jun 13, 2019 | Updated : 16:02, Jun 13, 2019

photo-1528361983In his proposed budget for the upcoming fiscal, Finance Minister AHM Mustafa Kamal has set out a revenue income goal of Tk 3.77 trillion, marking an increase of 19 percent from the revised budget of the ongoing fiscal year.

Out of this, Tk 3.25 trillion will be collected through the National Board of Revenue (NBR). Tax revenue from non-NBR sources have been estimated at Tk. 145 billion.

Besides, non-tax revenue is estimated at Tk. 377.10 billion.

The finance minister has rolled out of a budget of Tk 5.23 trillion for 2019-20 fiscal, which is 18.1 percent of the GDP (gross domestic product). 

Total allocation for operating and other expenditures is Tk 3.2 trillion, and allocation for the annual development program is Tk 2.02 trillion.

The overall budget deficit will be Tk 1.45 trillion, which stands at 5 percent of the GDP—the same ratio the government had set for the outgoing fiscal year (FY2018-19).

The budget proposes to rake in Tk 680.16 billion from external sources and Tk 773.63 billion from the domestic sources to balance the deficit.

Amongst the financing from domestic sources, Tk 473.64 billion will be source from the banking system and Tk 300 billion from savings certificates and other non-bank sources.

/zmi/
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