JS goes into budget session on Wednesday

The third session of the 12th Jatiya Sangsad (JS) will begin on Wednesday. It will be the first budget session of the present stint of the Awami League government came to power through the general election on January 7 this year.

The session will start at 5pm at Sangsad Bhaban of Sher-e-Bangla Nagar in the capital, reports BSS.

Earlier on May 20, President Mohammed Shahabuddin convened the session exercising the power bestowed upon him as per the Article 72 (1) of the Constitution.

Finance Minister Abul Hassan Mahmood Ali is expected to place the national budget for fiscal year 2024-25 (FY25) in the JS on Wednesday afternoon.

This will be the first budget of the present Awami League government which came to the power for the fourth consecutive term through January 7, 2024 national election.

The size of the proposed budget is expected to be around Taka 8 lakh crore, said a finance ministry official, adding that controlling the rising inflation is likely to get the top priority in the budget.

The budget for FY25 will be the country’s 53rd budget and the 25th of the Awami League government in its six tenures after independence.

Tajuddin Ahmed presented the country’s first budget in 1971 as finance minister of the post-independence govermment headed by Bangabandhu Sheikh Mujibur Rahman. The size of the country's first budget was Taka 7.86 billion and ADP size was Taka 5.01 billion.