Highlights of budget for FY25

Finance Minister Abul Hassan Mahmood Ali on Thursday placed a Taka 7,97,000 crore national budget for the coming fiscal year.

This is the first budget of incumbent Finance Minister AH Mahmood Ali.

Here are the highlights of the proposed budget for fiscal year 2024-25:

Total proposed budget: Taka 7,97,000 crore which is 14.2 percent of the GDP

GDP growth target: 6.75 percent

Revenue target: Taka 5.41 lakh crore

Out of this, Taka 4.80 lakh crore to be collected through National Board of Revenue (NBR) and Taka 61 thousand crore from other sources.

Budget deficit: Taka 2.56 lakh crore (4.6 percent of GDP)

Out of the total deficit, Taka 1,60,900 crore are proposed to be financed from domestic sources and Taka 195,100 crore from external sources

The average inflation:  6.5pc in 2023-24 fiscal year (FY)

Tax-free income limit: Taka 3.5 lakh for individual taxpayers

Corporate tax rates: 25 percent

Education, health, agriculture, local government and rural development, power, communication, and science and technology sectors were given priorities.

The budget expresses to build a smart, prosperous and happy Bangladesh.