The last budget session of the 10th parliament has begun.
The session, the fifth by this parliament, began at 11:15am with Speaker Dr Shirin Sharmin Chaudhury in the chair.
Finance Minister AM Muhith is going to place a Tk 4.682 trillion- budget at 12:30pm on Thursday for the 2018-2019 fiscal year.
It is the last national budget of the current government as the next parliamentary elections will be held in December next.
President Abdul Hamid on May 16 last summoned the Jatiya Sangsad session, exercising the power bestowed upon him as per Article 72 (1) of the constitution.
With the latest budget, it will be the tenth of this goverment placed by Muhith, and the 12th by him so far. He placed two other budgets during the regime of HM Ershad in the 1980s.
The allocation for the Annual Development Programme (ADP) for the coming fiscal year is likely to be Tk 1.78296 trillion, up from the outgoing fiscal year, sources at the Finance Ministry.
Besides, the government may set the GDP growth target for the upcoming fiscal year at 7.8 per cent, UNB reported.
The revenue collection target for the next fiscal year is likely to be fixed at Tk 3.4 trillion, up 18 per cent from that of the current fiscal year. The revenue collection target for fiscal 2017-18 is Tk 2.87 trillion.
The Finance Minister earlier at pre-budget discussions indicated that corporate tax rate will also be reduced as the young generation is showing a growing interest in paying income tax.
