Parliament has approved a supplementary budget of Tk 139.87 billion to authorise additional expenditures by ministries and divisions for the current fiscal year ending Jun 30.
Bangladesh’s revenue plan for the year ahead: What’s in it?
Bangladesh is planning to rely on revenue collections to finance 65 percent of the proposed Tk 6 trillion spending plan for the upcoming fiscal year starting Jul 1.
Published : 3 June 2021, 12:20 PM
Updated : 3 June 2021, 12:20 PM
In his third national budget unveiled on Thursday, Finance Minister AHM Mustafa Kamal set a revenue target of Tk 3.89 trillion, about an 11 percent increase over the current fiscal year.
However, the revenue collection target through the NBR is equal to the original allocation for the current fiscal year's budget.
The government is seeking to raise Tk 3.3 trillion through the National Board of Revenue, with Tk 1.28 trillion coming from value added tax (VAT). It also plans to draw an estimated Tk 160 billion from non-NBR sources, while the non-tax revenue is estimated at Tk 430 billion.
The revenue collection target through NBR sources in FY21 was Tk 1.28 trillion from VAT, Tk 1.1 trillion from income tax and Tk 956 billion from customs.
Meanwhile, the revenue collection in the first nine months of the current fiscal year increased 7.31 percent compared to the previous fiscal year.
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