Finance Minister AHM Mustafa Kamal has said that the budget for the next fiscal year 2022-23 will be placed in Parliament on June 9.
He made the statement while responding to a question from reporters after a meeting of the Cabinet Committee on Government Purchase (CCGP) on Wednesday.
When asked about the possibility of increasing the tax-free income limit from Tk 3 lakh, the Finance Minister said the details of the issue have not yet been finalised. However, the government will surely take step, which will bring comfort to the life of the general people, he said.
Earlier this week, a high-level meeting of the government has already fixed the initial amount of the budget for the fiscal year 2022-23.
The initial size of the budget is set at Tk 6,77,864 crore and the target for revenue income is Tk 4,31,657 crore.
The Finance Minister said that the prices of all things have gone up all over the world.
“According to a March report by the World Bank, global wheat prices have risen 38 percent in the past year. Prices of beef rose by 35 percent, chicken by 55 percent, soybean oil by 37 percent, sugar by 11 percent, tea by 13 percent, TSP fertilizer by 65 percent and urea fertilizer by 234 percent. We have to buy these items at high prices. The work has to be done by continuing these concerted efforts,” he mentioned.
Answering to another question Kamal said that steps are always taken to control imports.
Imports must be controlled, it is not open, he said, adding that we do not control the import criteria that in some cases the consumer product will be required for the public.
“We import from both public and private sectors so that people do not suffer. And if it is a luxury item, we will try to control it. Many times when the normal situation is restored in the international market, we allow import,” he said.
Asked about the Digital Connectivity project, he said, “We consider this project a good project. There will be employment opportunities for many people. According to the media, 1 lakh people have lost their jobs in e-commerce during the Corona situation. Another 5 lakh people will lose their jobs in the same sector this year. There are two things we consider while approving projects.”
Consider the two basic areas for the project, it will generate revenue for the government and create huge employment, he said, adding that if this project is implemented, many jobs will be created.
The Finance Minister said a total of 11 proposals have been raised for the approval of the Purchase Committee.
Purchase proposals included 3 from Road Transport and Highways Department, 2 from Railways Ministry, 2 from Local Government Department, 1 from Food Ministry, 1 from Industry Ministry, 1 from Energy and Mineral Resources Department and 1 from Information and Communication Technology Department, he added.
“The total amount in the 11 proposals was estimated at Tk 5,626.15 crore. Out of the total financing, Tk 1,488.13 crore will be spent from the government funds and Tk 4,138 crore will come from Exim Bank of China and Exim Bank of India as a loan,” he mentioned.
