Finance Minister Abul Maal Abdul Muhith is all set to present a Tk4.88 billion National Budget for fiscal year 2018-19, on Thursday before parliament with a 7.8 percent targeted Gross Domestic Product (GDP).

This budget, scheduled to be presented at 12:30pm, is the last budget of the current government titled 'Bangladesh on the path to a prosperous tomorrow.’

Reportedly, the budget has been formulated, keeping in mind the importance of the next parliamentary elections and underlines 10 mega projects, including social security, power and energy, transportation and infrastructure.

Special allocation will be given to these sectors.

A source from the finance ministry said that the total expenditure of the budget will be around Tk4.88 billion.
However, the stipulated amount may be reduced at the last moment since there isn’t any provision for new taxation, the source added.

In the new budget, inflation rate has been fixed at 5.6 percent with the budget deficit fixed at more than Tk 1.25 billion.
This is 4.9 percent of GDP.
Meanwhile, ADP has been set at Tk 1.73 billion. A special cabinet meeting will be held at the cabinet hall of the Parliament before the new budget session starts.
The cabinet will approve the new budget for the fiscal year 2018-19 in the meeting, scheduled to be chaired by Prime Minister Sheikh Hasina, and attended by ministers, secretaries and other stakeholders.
Immediately after getting the cabinet approval, President Abdul Hamid, present in his parliament office, will sign the new budget.
Subsequently, Prime Minister Sheikh Hasina will enter the main room of parliament where the session is scheduled, with the finance minister, carrying a briefcase holding budget documents.
Then Finance Minister Abul Maal Abdul Muhith will then present the budget before parliament.
The size of the new budget is Tk 643.07 billion more than the original budget of fiscal year 2017-2018, and Tk 930.78 billion higher than the amended budget of that same period.