Muhith to unveil budget for FY16 at 3pm

Sun Online Desk

4th June, 2015 09:56:05 printer

Muhith to unveil budget for FY16 at 3pm

Finance Minister Abul Maal Abdul Muhith will place the national budget for 2015-16 financial year at the Jatiya Sangsad at 3:00pm today.

This will be the country’s 44th budget and the 16th of the Awami League government while the 9th for AMA Muhith.

 

The minister already hinted that the target for GDP growth would be set at 7.2 to 7.3 percent for FY16 when he would focus on human resource development for driving economy to a higher growth trajectory.


The Finance Minister will draw the salient features of the budget with the major targets of raising GDP (gross domestic product) growth with maintaining price stability, enhancing the rate of investment, and improving the power and energy, and physical infrastructure further with special attention to human resources development.

Size of this year’s budget will be around three lakh crore, higher than the past year’s budget of 2 lakh 50 thousand and 560 crore.

 

Muhith announced that he would take a different approach this year in the national budget and the fiscal policy to achieve the targeted growth in the economy.

 

Muhith, however, is the first finance minister who is placing the national budget for the seventh time in a row since 2009-10 fiscal year. He also presented two more national budgets for the 1982-83 and 1983-84 financial years.

 

Last year, the finance minister announced that the budget would have the mechanism and the dynamism for luring growth fostering investment and reducing income disparity to bring more people out of poverty.


Top