The prices of the products can be reduced in the budget

Finance Minister Abul Hasan Mahmud Ali will present the budget of 2024-2025 financial year in the Jatiya Sangsad shortly after. This time the size of the budget is 7 lakh 97 thousand crores. Inflation control is the highest priority in this 53rd budget. There is also the challenge of improving the foreign exchange reserve situation and increasing the revenue.

In this budget, the duty-tax may be reduced on several goods and services. This may reduce the price of some products. This information has been revealed by the responsible sources of the National Board of Revenue (NBR).

It is reported that the price of dialysis filter, a material used for dialysis, may come down in the new budget. Therefore, the cost can be reduced in dialysis. Besides, the cost of dengue test kits may come down. The price of powdered milk and chocolate may decrease. VAT is being withdrawn on import of laptops. In this, instead of 31 percent, the product will have to pay a customs duty of 20.50 percent. As a result, the price of the laptop may decrease.

Imports of aircraft engines and propellers may decrease. As a result, aircraft maintenance costs can be reduced. Import duty on domestically made motorcycle CKD engine parts is reduced. This may reduce the price of motorcycles made in the country.

The total revenue target for the implementation of this proposed budget has been set at 5 lakh 41 thousand crores. Out of this, the Revenue Board has set a target of Tk 4 lakh 80 thousand crores. Another 15 thousand crores will come from non-NBR sectors.

The size of the proposed budget annual development program ADP has been estimated at Tk 2 lakh 65 thousand crores. In the revised budget for the current financial year, the size of ADP is 2 lakh 45 thousand crores.

In the next financial year, the expenditure on subsidy has been estimated at 83 thousand 500 crores. In the current financial year, the allocation for subsidy and incentives sector was 1 lakh 10 thousand 672 crores. The GDP growth target for the current financial year was more than 7 percent. But, for the next fiscal year, 6.75 percent has been estimated.

The finance minister wants to ensure that the daily commodities are kept within the purchasing power of the people and the standard of living is within the limits of the next financial year. For this, the inflation target is 6 and a half percent. To meet the deficit, there is a plan to take a loan of 2 lakh 56 thousand crores from domestic and foreign sources. Which is 4.6 percent of GDP.

In the next financial year, the maximum expenditure will be 1 lakh 29 thousand crores in interest payments, 1 lakh 12 thousand crores in subsidies and 1 lakh crores in salary and pension of government officials.

RAR/Sa.A