Finance Minister unveiling budget for FY20 | 2019-06-13

Finance Minister unveiling budget for FY20

Sun Online Desk

13th June, 2019 03:21:57 printer

Finance Minister unveiling budget for FY20

Finance Minister AHM Mustafa Kamal began to unfold the proposed national budget of around Taka 5.23 lakh crore for FY20 on Thursday, aiming to bring a number of reform initiatives including new VAT law to rejuvenate the economy.

Kamal started the budget speech in parliament at around 3:00 pm while this is the country’s 48th national budget and 20th by the Awami League government in its five terms since the 1971 Independence.

The budget is presumed to propose a number of well-fare oriented initiatives and reforms in the banking sector, capital market, savings certificates and social safety net programmes and generate employments.

This would be the first budget to be delivered by Kamal while its size would be approximately Taka 58,000 crore more than that of the last fiscal presented by his predecessor Abul Maal Abdul Muhith.

Muhith last year presented a Taka 4,64,573 crore budget before he went on retirement by serving as the first finance minister to unfold the budget for the 10 times in a row since 2009.