Special Cabinet meeting on proposed National Budget for FY 2024-25 underway

The special Cabinet meeting began today to approve the proposed national budget for the fiscal year 2024-25, presided over by Prime Minister Sheikh Hasina at the cabinet room of the Jatiya Sangsad Bhaban.

Finance Minister AH Mahmood Ali, along with other ministers and state ministers, are attending the meeting. The finance minister is set to unveil the proposed national budget this afternoon, following its authentication by the President.

The proposed budget for the 2024-25 fiscal year exceeds Tk 8 lakh crore, including a Tk 265,000 crore Annual Development Programme (ADP). The National Economic Council (NEC) has already approved the ADP, allocating the highest amount of Tk 70,687.75 crore (26.67% of the allocation) to the transport and communication sector, reports UNB.

Tk 7.97 lakh crore budget set to be unveiled in Parliament Thursday; Revenue target set at Tk4.8 lakh crore

Additionally, the NEC approved an ADP of Tk 13,288.91 crore for autonomous bodies and corporations, bringing the total ADP for 2024-2025 to Tk 278,288.91 crore.

The ADP includes 1,321 projects: 1,133 investment projects, 21 survey projects, 87 technical assistance projects, and 80 projects from autonomous bodies and corporations.

Among the ministries and divisions, the Local Government Division is set to receive the highest allocation of approximately Tk 38,809 crore (15% of the total allocation) in the ADP.