Parliament passes Appropriation Bill 2014/2015
The Jatiyo Sangsad passed the Appropriation Bill 2014/2015 yesterday which will come into force tomorrow, 1st July.
The bill allows for Tk. 3.82 trillion of expenditure with Tk. 2.3 trillion being allocated to Ministries and Tk. 1.52 allocated for the consolidated fund.
The budget expects GDP growth next year to be 7.3% with inflation held at 6%. Earlier this month Finance Minister AMA Muhith said “The main objective of the proposed budget will be to maintain continuity of existing monetary and fiscal policy strategies being pursued and to ensure macroeconomic stability.” “As you all know, we have undertaken a range of legal, regulatory and structural reforms in the revenue sector. Moreover, additional manpower has been sanctioned to revamp the activities of this sector. Efforts to strengthen revenue collection in the next budget will continue through these on-going reforms.”
You can read the full budget speech here.