Finance minister begins unveiling Tk 7.97 trillion national budget

Finance minister Abul Hassan Mahmood Ali has started placing the Tk 7.97 trillion national budget in parliament for the fiscal year 2024-25.

The Finance Minister began rolling out the budget at 3:04 pm on Thursday.

It is the maiden budget of incumbent Finance Minister AH Mahmood Ali and the first budget of the Awami League government's 6th term.

However, the finance minister does not have to read the entire budget document .He will present his budget summary in front of the parliamentarians through slides.

Earlier, the Cabinet, at a special meeting, approved the proposed national budget for the fiscal year 2024-25.

The meeting was presided over by Prime Minister Sheikh Hasina at the cabinet room of the Jatiya Sangsad Bhaban.

Finance minister AH Mahmood Ali, along with other ministers and state ministers, attended the meeting.

The proposed budget includes a Tk 265,000 crore Annual Development Programme (ADP).

The National Economic Council (NEC) has already approved the ADP, allocating the highest amount of Tk 706.87 billion (26.67 per cent of the allocation) to the transport and communication sector.

Additionally, the NEC approved an ADP of Tk 132.88 billion for autonomous bodies and corporations, bringing the total ADP for 2024-2025 to Tk 2782.88 billion.

The ADP includes 1,321 projects: 1,133 investment projects, 21 survey projects, 87 technical assistance projects, and 80 projects from autonomous bodies and corporations.

Among the ministries and divisions, the Local Government Division is set to receive the highest allocation of approximately Tk 388.09 billion (15 per cent of the total allocation) in the ADP.