Revised budget may be Tk 50,000cr smaller

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Revised budget may be Tk 50,000cr smaller

//business-finance.news-articles.net/content/202 .. 7/revised-budget-may-be-tk-50-000cr-smaller.html

Published in Business and Finance on Saturday, December 7th 2024 at 13:20 GMT by The Daily Star

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source
🞛 This publication contains potentially derogatory content such as foul language or violent themes

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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