On Thursday Muhith presented his budget proposal of Tk 3.41 trillion with a deficit of Tk 978.53 billion.
In the previous budget, the finance minister had said he planned to cut average inflation down to 6.2 percent.
According to official statistics, it stood below that target - at 6.04 percent - in April.
On a point-to-point basis, inflation in April clocked at 5.61 percent.
In his budget speech, Muhith said that dwindling global oil prices had left him in a comfortable position on the inflation front.
He said he foresaw a drop in global commodity prices, including that of oil, in the next financial year.
“Side by side, prospects of persistent agricultural growth and improvements in the domestic distribution system will help contain food inflation at a tolerable level,” Muhith told the House.
He said that the 5.8 percent target had been set as the government would ensure the ‘continued harmonisation of fiscal and monetary policies’.
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