First budget session begins today

The first budget session of the 13th National Parliament under the current government is scheduled to commence at 3pm on Sunday (June 7). Chaired by Speaker Hafiz Uddin Ahmad, the session will feature the presentation of the national budget for the 2026-27 fiscal year by Finance Minister Amir Khasru Mahmud Chowdhury on Thursday (June 11). Following extensive parliamentary debates, the state budget is expected to be passed on June 30.

According to Ministry of Finance sources, the projected expenditure for the upcoming 2026-27 fiscal year stands at 9.38 trillion BDT, with a total revenue mobilization target set at 6.95 trillion BDT. The National Board of Revenue is tasked with generating the lion's share of this revenue through taxes, VAT, and customs duties amounting to 6.04 trillion BDT, while the remaining deficit will be bridged through domestic and foreign borrowings.

To ensure industrial productivity and food security, the government has allocated 1.17 trillion BDT for subsidies, incentives, and cash loans in key sectors such as electricity production, gas, and fertilizer imports. Within this framework, the electricity sector will receive 370 billion BDT in subsidies, matching the current fiscal year's allocation, while fertilizer imports have been allocated 270 billion BDT. Additionally, 65 billion BDT has been earmarked for LNG imports, alongside 78.25 billion BDT for cash export incentives.

Conversely, the government has reduced spending on food subsidies for low-income brackets through Open Market Sale (OMS), the Trading Corporation of Bangladesh (TCB), and food-friendly programs, trimming the allocation to 96 billion BDT from the current year’s revised 102.14 billion BDT. The finance ministry plans to gradually phase out direct market interventions in favor of an expanded Family Card scheme. Meanwhile, to combat illegal hundi channels and boost banking-channel inward remittances, cash incentives for expatriate workers are being increased by 10 billion BDT to reach a total of 72 billion BDT.

Despite pressure from the International Monetary Fund (IMF) to withdraw fiscal subsidies to curb the budget deficit, Bangladesh has officially requested a new 4.5 billion USD loan from the global lender. Observers note that navigating global economic downturns and domestic financial pressures will be the primary challenges in successfully executing this massive national budget.