The government is set to present the proposed budget for the fiscal year 2023-24 with a target of Tk 500,000 crore government income. Finance Minister AHM Mustafa Kamal will unveil the budget in the Jatiya Sangsad. The total budget is projected to be Tk 761,785 crore, with a deficit of Tk 261,785 crore, accounting for 34.36% of the total budget and 5.2% of the GDP. The main focus of the budget is to address high inflation and ensure robust GDP growth, although controlling inflation may be challenging due to the proposed VAT increase on certain products. The operational expenditure target is set at Tk 475,281 crore, while the annual development expenditure target is Tk 277,582 crore. The budget aims to bring more people into the tax net by implementing a minimum tax payment of Tk 2,000 to access government-private services. The budget speech is titled “One and a Half Decades of Development: Towards a Smart Bangladesh.”
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