The government will take a loan of Tk 15400 crore from the savings certificate

The government has reduced reliance on savings bonds in the budget to reduce the burden of interest payments. The government has decided to take a loan of Tk 15,400 crore by selling savings bonds in the financial year 2024-2025. Which is 2 thousand 600 crores less than the current financial year. In the current financial year, the target of sale of savings bonds was fixed at 18 thousand crores; However, in the revised budget, this figure has been reduced to Tk 7,310 crore.  

Finance Minister Abul Hasan Mahmud Ali presented the budget proposal in the Jatiya Sangsad on Thursday (June 6) under the chairmanship of Speaker Shirin Sharmin Chowdhury. Before that, the proposed budget was approved by the cabinet and later the president signed the proposal. Sahabuddin. Prime Minister Sheikh Hasina was present at this time.

The size of the proposed budget for the financial year 2024-25 has been estimated at 7 lakh 97 thousand crores. This time the budget deficit is decreasing. Compared to the proposed budget of the current fiscal year, the deficit in the budget of the new fiscal year is estimated to be less than 5 thousand 785 crore taka. Without grants, the budget deficit has been estimated at two lakh 56 thousand crores. However, the overall deficit including grants will stand at Tk 2 lakh 51 thousand 600 crore. In other words, the target of receiving a grant of 4 thousand 400 crore rupees in the next financial year has been set.

To meet the deficit, the target of foreign debt has been fixed at 1 lakh 27 thousand 200 crores. 36 thousand 500 crores of foreign debt will be repaid. In this, the net foreign debt will stand at 90 thousand 700 crores. Apart from this, a loan of 1 lakh 60 thousand crore taka will be taken from the domestic sector. Out of this, one lakh 37 thousand 500 crores will be taken from the banking system. Of which Tk 72 thousand 682 crore is long term debt and Tk 64 thousand 818 crore is short term. 23 thousand 400 crores of non-bank loans will be taken. The target for sale of savings bonds is Tk 15,400 crore.

In the budget of the financial year 2024-25, the interest payment cost of the loan has been estimated at one lakh 13 thousand 500 crores. Out of this, interest on domestic debt is 93 thousand crores. And foreign loan interest is 20 thousand 500 crores.

In the budget, the revenue target has been fixed at five lakh 41 thousand crore rupees. Out of this, the target of National Board of Revenue (NBR) is 4 lakh 80 thousand crores. 15 thousand crores of non-NBR tax has been assessed. The target of non-operational receipts has been fixed at 46 thousand crores.

As the 18th Finance Minister of the country, Abul Hasan Mahmud Ali is presenting the budget for the first time.