INTRODUCTION
The budget is a crucial policy document that affects the
economic and social growth of the nation as a whole by
outlining the government's objectives for spending and
revenue collection in the following fiscal year.
On 9th June 2022, the 51st national budget for
the fiscal year 2022-2023 was declared by the
Minister of Finance AHM Mustafa Kamal.
Components
Revenue and Foreign
Expenditures Financing
Grands
OVERVIEW OF
BUDGET
FY 2022-2023
The national budget for the fiscal year has
proposed a total expenditure worth of BDT
6.78 trillion.
The inflation rate has also been The government has targeted to
assumed to be stable at 5.6%. increase the GDP growth rate to 7.5%.
The total revenue and foreign
grants are BDT 4.36 trillion and an
overall deficit of BDT 2.42 trillion.
SECTORWISE ALLOCATION
SOURCES OF FUND
TAX STRUCTURE
The tax is reduced by
2% for green
Personal Income Tax factories.The textile
structure remains industry has been
unchanged. given the extension
of a reduced
corporate tax of 15%
till FY 2025-26.
The corporate tax rate
reduced to 20% for
listed, 27.5% for non-
listed and 22.5% for
one-person
companies. The tax rate is 10% for
Source tax on raw businesses with a
materials for turnover of 2.5 million
manufacturers and 12% for bigger
decreased to 4% and ones, export-
for exports increased oriented industries
to 1%. have been given a
reduced corporate
tax of 12%.
CRITICAL
EVALUATION OF
FY2022-23
BUDGET
Prioritize Payment of Higher Subsidy
for Fertilizer
Allocation for subsidy for agriculture
Reduce prize of Fertilizer
Maintain present level of farmer
Strengthen Market Monitoring
Monitor Retailers and Distributors
Ensure efficient distribution to farmers
Maintain The Current Level of Inward
Remittances
Curbing the migration costs
Lowering the remittance sending cost
Priotirize exchange rate
Allocate More Resources for Food
Distribution needs to be increased
Direct in-kind and price support
Restructure Subsidy in View of LDC
Graduation
Reduce direct export subsidy allocation
Should follow other growing countries
Devlop new strategy
Undertake Comprehensive Reforms
of The SoEs
SoEs, BCIC, BTMc
Loss reached to 24.16 billion
Paying Capacity Payment to
Independent Power Producers
BPDB losses 86.64B in FY21
Government shouldn't sign new contract
Gradually Phase Out Fossil-Fuel
Based Energy
Focus on renewable energy
Reduce tax/vat on importiong
BUDGET
EXPECTATION
FOR
FY 2023-2024
BANGLADESH HAS HIGH EXPECTATIONS FROM THE
UPCOMING BUDGET, ESPECIALLY IN TERMS OF JOB
CREATION, POVERTY REDUCTION, AND INFRASTRUCTURE
DEVELOPMENT.
THE GOVERNMENT IS EXPECTED TO ALLOCATE FUNDS
TOWARDS CREATING NEW JOB OPPORTUNITIES,
PROMOTING ENTREPRENEURSHIP, AND PROVIDING SUPPORT
TO SMALL AND MEDIUM ENTERPRISES.
SECTORS WITH EXPECTED CHANGES
IN THE FISCAL YEAR 2023-2024
EDUCATION SOCIAL WELFARE
FY 2023-2024 budget In the fiscal year 2023-
to allocate a INFRASTRUCTURE 2024, the social welfare
significant portion to budget is expected to
the academic sector receive a higher allocation
for expanding HEALTHCARE FY 2023-2024 budget AGRICULTURE to fund poverty reduction,
to fund
educational food security, and social
FY 2023-2024 health transportation and In the upcoming fiscal
institutions and safety net initiatives for
budget to prioritize digital infrastructure, year, the Bangladeshi
funding research, the disadvantaged
COVID-19 response, including highways, government will allot funds
development, and population.
including vaccine railways, airports, to boost the agriculture
training.
procurement, seaports, internet sector, covering irrigation
facility construction, connectivity, and systems, agricultural
and personnel data centers. supplies, and agro-
education. processing enterprises.
CHALLENGES AND
OPPORTUNITIES
The upcoming budget presents opportunities
for economic growth, but also challenges.
The main challenge is the COVID-19
pandemic's impact, leading to decreased
revenue and increased healthcare spending.
Nonetheless, the government can use this
challenge to invest in healthcare
infrastructure, promote domestic
manufacturing, and increase exports
for foreign exchange generation.
FINDINGS &
CONCLUSION
FINDINGS
This year's budget emphasizes
01 conservative spending and aggressive 05 Priority sectors include public services,
education and technology, transport
revenue targets due to the global
economic climate and import reliance. and communication, agriculture, and
health.
02 Government aims to increase GDP Sectors with the least priority are
06
growth rate to 7.5%, with a stable housing, recreation, culture and
inflation rate of 5.6%. religious affairs, and industrial and
economic services.
03 Total expenditure proposed is BDT 6.78 The National Board of Income tax
trillion, with revenue and foreign grants 07 income, local loans, foreign loans or
of BDT 4.36 trillion, resulting in a BDT
grants, and other revenue sources will
2.42 trillion deficit.
fund the entire budget.
Public expenditure will increase by
04 14.2%, with 60.6% allocated for NBR is expected to bring in BDT 3.7
operating expenses and 36.3% for the 08 trillion in tax revenue, equivalent to
Annual Development Program. 54.6% of the total revenue.
CONCLUSION
The 51st national budget for FY 2022-23 outlines the government's
objectives for spending and revenue collection.
The budget helps Bangladesh meet development goals, such as
reducing poverty, creating jobs, and improving infrastructure.
This year's budget focuses on conservative spending plans and
aggressive revenue targets due to the turbulent global economic
climate and reliance on imports.
The budget proposes a total expenditure of BDT 6.78 trillion and an
overall deficit of BDT 2.42 trillion.
Public service, education and technology, transport and
communication, and agriculture are the priority sectors.
The budget will be funded by tax revenue, NBR Tax Revenue,
Non NBR Tax Revenue, Non-tax revenue, foreign grants,
local loans, foreign loans, and other sources.
Understanding the national budget's policy objectives and
goals is crucial for comprehending the government's aims
and policies and their potential impact on the economy and
society of Bangladesh.
THANK
YOU
