6 major challenges for next fiscal year

In the proposed budget, the government has identified six major challenges for next fiscal year.

Those are- 

1. Containing inflation and enhancing domestic investment
2. Financing additional subsidy required for the increased price of gas, power and fertilizer in international markets
3. Utilizing funds available through foreign assistance and ensuring timely completion of high priority projects of ministries/divisions
4. Ensuring timely completion of projects in education and health sectors
5. Increasing collection of local Value Added Tax and raising the number of individual tax-payers
6. Maintaining stability in the exchange rate of taka and keeping foreign exchange reserves at a comfortable level.

Finance Minister AHM Mustafa Kamal has placed Tk6,78,064 crore national budget for FY23 at Jatiya Sangsad according top priority to safeguarding marginal people from inflation fuelled by the Russia-Ukraine conflict.

This is the fourth budget of the third consecutive term of the government led by Prime Minister Sheikh Hasina and also the overall 51st budget of the country.

The proposed budget is Tk74,383 crore higher than the original budget size of the FY2021-22 fiscal year, which was Tk6,03,681 crore.

Increasing agricultural and industrial production, ensuring food security, improving quality of healthcare, human resource development, poverty alleviation through equitable distribution of resources, education, expansion of social safety net and climate change have taken centre stage in the proposed budget.