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Hasina signals changes in proposed budget for FY2018



“We have proposed a budget, which will be discussed in parliament. If there’s any problem then it will be solved upon discussion,” she said while addressing an iftar party on Sunday hosted by the Bangladesh Federal Union of Journalists and the Dhaka Union of Journalists at the National Press Club.

On Thursday, Finance Minister AMA Muhith unveiled a Tk 4 trillion budget for the next fiscal year.

Of the total expenditure, Tk 2.88 trillion is expected to come from the revenue earnings.

But the budget, which Muhith claimed to be his best among the 11, will have a deficit of Tk 1.12 trillion, which is 5 percent of the GDP.

The House is set to discuss the budget, which will be passed on Jun 29 following the cabinet’s approval.

Several proposals of the budget, including increased excise duty on bank deposits and the uniform VAT rate of 15 percent have drawn criticism from different quarters.

Analysts said the large budget would likely hike the cost of living as a side-effect of the revenue earning demands to fund the financial outlay.

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