At A Glance Budget 2012-13

0digg The National Budget of Bangladesh for 2012-13 fiscal year presented by Finance Minister Abul Maal Abdul Muhith on June 7, 2012 titled as 'A Chronicle of Last Three Years: Building the Future' and it was finalized on in Parliament on June 30, 2012 after a long discussion of Parliament Members. Basically, in June and July Budget is the most important subject in the country. Due to World Bank loan cancellation for Padma Bridge, it was diverted to that. This is fourth budget of present ruling party and it was a reflection what they did in last three years.

Towards Building A Happy, Prosperous and Caring Bangladesh, with this title Finance Minister Abul Maal Abdul Muhith presented on 9 June in Jatiya Sangsad a Taka 163,589 crore national budget for fiscal year (FY) 2011-12 with focus on three major areas - poverty reduction, employment generation and power and energy sector development. BUDGET AT A GLANCE (Taka in Crore) Description Budget 2011-12 Revised 2010-11 Budget 2010-11 Actual 200910

Revenue and Foreign Grants

Revenues Tax Revenue NBR Tax Revenue Non-NBR Tax Revenue Non-Tax Revenue Foreign Grants/1 1,18,385 95,785 91,870 3,915 22,600 4,938 Total 1,23,323 95,187 79,052 75,600 3,452 16,135 4,224 99,411 92,847 76,042 72,590 3,452 16,805 4,809 97,656 75,905 62,465 59,742 2,743 13,420 3,218 79,123

Expenditure Non-Development Expenditure Non-Development Revenue Expenditure of which Domestic Interest Foreign Interest Non-Development Capital Expenditure/2 Net outlay for Food Account Operation 16,519 1,478 15,052 631 13,156 1,422 6,074 351 13,271 1,438 10,556 241 13,497 1,371 6,155 -849 1,02,903 87,851 83,177 77,103 85,786 75,230 79,123 67,013

Description Loans and Advances (Net)/3

Budget 2011-12 9,413

Revised 2010-11 6,718 150 39,615 1,011 1,430 35,800 1,294 1,30,011 -30,600 -3.8 -34,824 -4.4

Budget 2010-11 3,223 150 42,770 1,498 1,578 38,500 1,194 1,32170 -34,323 -4.4 -39,323 -5.0

Actual 200910 930 244 28,115 803 831 25,553 928 1,01,608 -22,485 -3.3 -25,703 -3.7

Structural Adjustment Expenditure 0 Development Expenditure Development Programmes Financed from Revenue Budget/4 Non-ADP Project Annual Development Programme Non-ADP FFW and Transfer/5 50,642 1,331 2,035 46,000 1,276

Total Expenditure 1,63,589 Overall Deficit (Including Grants) -40,266 (In Percent of GDP) -4.4 Overall Deficit (Excluding Grants) -45,204 (In percent of GDP) -5.0

Financing
Foreign Borrowing-Net Foreign Borrowing Amortization Domestic Borrowing Borrowing from Banking System Long-Term Debt (Net) Short-Term Debt (Net) Non-Bank Borrowing (Net) Others/6 13,058 18,685 -5,627 27,208 18,957 17,878 1,079 8,251 2,251 5,783 10,920 -5,137 24,817 18,379 16,062 2,317 6,438 519 10,834 15,968 -5,134 23,680 15,680 12,570 3,110 8,000 523 6,036 11,004 -4,968 15,820 -2,092 5,769 -7,861 17,912 6,213

Description

Budget 2011-12

Revised 2010-11 30,600 7,87,495

Budget 2010-11 34,514 7,80,290

Actual 200910 21,856 6,90,57

Total Financing: 40,266 Memorandum Item: GDP 8,99,670

Finance Minister have set targets of economic and fiscal indicators for the next fiscal year. Non development and development budget revenue set Taka 1,635.89 billion where tax revenue from National Board of Revenue (NBR) is Taka 918.70 billion (56.2%).

In FY 2011-12, aggregate revenue mobilization has been estimated at Tk. 1,18,385 crore which is 13.2 percent of GDP It includes NBR Tax revenue of Tk. 91,870 crore (10.2 percent of GDP) Non-NBR Tax revenue of Tk. 3,915 crore (0.4 percent of GDP)

Non-Tax revenue of Tk. 22,600 crore (2.5 percent of GDP).

Finance Minister said, we will be able to achieve a 7 percent economic growth in FY 2011-12. He shows some indicator as robust export position, satisfactory growth in revenue mobilisation, uninterrupted growth in the agricultural sector, growth of credit outflow to the private sector and high growth of term loans, which help to achieve the target.