All ministries asked to submit their budget to finance ministry by February 7: Official
Asif Showkat Kallol || BusinessInsider
Representational Image. UNB file photo.
The finance ministry has asked other line ministries to submit their income and expenditure limit outlay so that they can start writing the national budget for the forthcoming fiscal year 2022-23.
The process of writing the budget will begin in February, a finance ministry official said.
The finance division on Monday issued a circular asking other ministries and divisions to submit their respective budgets for the ensuing FY within February 7.
The official told Business Insider Bangladesh on Monday that they are going to entertain budget discussion sometime in the third week of February.
The ministry is contemplating virtual meetings if the Covid-19 spreads further at that time.
The government is planning a huge budget worth Tk 6,75,139 crore for the next financial year amid an Omicron fallout uncertainty.
The budget may set a target of Tk 360,000 crore revenue earning. Last week, next fiscal year's budget proposal was approved by the finance division of the finance ministry at a meeting of the Coordination Council on Financial Currencies and Exchange Rates. Finance Minister AHM Mustafa Kamal chaired the meeting.
However, in the first five months of the current financial year (July-November) the revenue collection deficit stood at Tk 13,099 crore.
