National budget to be placed amid virus pandemic

Staff Correspondent

Dhaka – Finance Minister AHM Mustafa Kamal is scheduled to place the national budget for the 2020-21 financial year on Thursday amid the global pandemic of novel coronavirus that killed more than 1,000 people in Bangladesh.

The minister is expected to propose the 66-billion-dollar (568,000 crore taka) budget in parliament in the afternoon. The financial measures he is going to place will be debated before they get passed for the next financial year beginning on July 1.

Officials said the minister set a revenue target of over 39.24 from taxes through the National Board of Revenue (NBR), while the target for non-tax revenue from the NBR was set at 3.89 billion dollars and non-NBR income was set at nearly 1.77 billion dollars.

The growth projection is learnt to have set at 8.2 per cent despite the fact that Bangladesh is going to be one of the worst hit countries by the novel coronavirus.  

Parliament opened its budget session on Wednesday. The authorities have discarded a tradition of inviting distinguished people, foreign dignitaries and journalists from attending the session. The media will cover the opening session with the help of virtual media.

Speaker Shirin Sharmin Chaudhury said in line with the Parliamentary Rules of Business, the House would need to pass the Finance Bill on June 29 and the proposed budget for the coming fiscal on June 30 after days of discussion.

“I hope all members will make the short-lived budget session effective and active through important discussions,” the speaker said.

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