National budget for 2017-18 FY passed in parliament

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Dhaka, June 29: The parliament on Thursday passed Tk 4,00,266 crore national budget for 2017-18 fiscal year with a view to achieving  higher growth, lower inflation and gearing up investment.

Finance Minister AMA Muhith moved the Appropriations Bill, 2017 which was passed unanimously by voice vote.

On June 1, the finance minister rolled out a Tk 4,00,266 crore national budget for fiscal 2017-18, setting the GDP growth target at 7.4 percent and outlining a set of plans-strategies to build a prosperous, happy and peaceful country by 2041.

According to the budget documents for FY18, Tk 2,41,253 crore has been allocated for non-development expenditure, including other expenses and Tk 1,53,331 crore has been earmarked for Annual Development Programme (ADP).

The overall revenue collection target for the next fiscal has seen set at Tk 287,990 crore of which Tk 248,190 crore will come from the NBR sources.

Concerned ministers placed 60 demands for grants while the main opposition party and independent lawmakers brought 352 cut motions to clear the legal basis. However, the demands for grants were approved by the House by voice votes.

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