Finance Minister AMA Muhith is unveiling the Tk 4.64 trillion budget for the 2018-19 fiscal.
The octogenarian minister is presenting his 10th consecutive budget under the current government.
It’s his 12th national budget and the last of the Awami League government serving its second straight term
Muhith started to read out his budget proposal around 1pm.
Earlier, the Cabinet approved the national budget at a special meeting presided over by Prime Minister Sheikh Hasina at the parliament complex.
In the proposed budget, the GDP growth is projected at 7.8 percent and Muhith said he hopes to keep the inflation below 5.4 percent in the new fiscal year.
The revenue collection target for the coming fiscal year is fixed at Tk 3.4 trillion, up 18 percent from that of the current fiscal year.
The allocation for annual development programme (ADP) for the coming fiscal year is Tk 1.78 billion up from the outgoing fiscal year.
The budget deficit will be kept at 4.9 percent of the GDP.
To bridge the gap, Muhith targets borrowing from Tk 605.85 billion from foreign sources, of which Tk 105.69 billion will go for debt financing.
Finance minister plans to borrow another Tk 712.26 billion from internal sources. The budget proposes to borrow Tk 420.29 billion from the banking system while Tk 261.97 billion from sales of saving schemes.