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Revised budget may be Tk 50,000cr smaller

The revised budget for the fiscal year 2023-24 in Bangladesh is expected to be Tk 50,000 crore smaller than initially planned, primarily due to lower revenue collection and reduced government expenditure. The National Board of Revenue (NBR) has projected a shortfall in tax collection, leading to a decrease in the budget size from Tk 7.61 trillion to around Tk 7.11 trillion. This adjustment reflects the government's response to economic challenges including inflation, currency depreciation, and global economic slowdown. The reduction aims to align the budget with realistic revenue expectations and manage fiscal deficits more effectively. Additionally, the government has decided to cut back on non-essential spending and subsidies, focusing instead on essential services and development projects.

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[ https://www.thedailystar.net/business/economy/news/revised-budget-may-be-tk-50000cr-smaller-3770641 ]