Cabinet approves proposed national budget for FY 2024-25

Cabinet approves proposed national budget for FY 2024-25

The cabinet, at a special meeting on Thursday, 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 finance minister is set to unveil the proposed national budget Thursday afternoon, following its authentication by the president.

The proposed budget for the 2024-25 fiscal year exceeds Tk 8000 billion, including a Tk 2650 billion Annual Development Programme (ADP).

The National Economic Council (NEC) has already approved the ADP, allocating the highest amount of Tk 706.88 billion (26.67ppc of the allocation) to the transport and communication sector.

Additionally, the NEC approved an ADP of Tk 132.89 billion for autonomous bodies and corporations, bringing the total ADP for 2024-2025 to Tk 2782.89 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 (15pc of the total allocation) in the ADP.