5:18 pm - Saturday June 14, 1197

Budget session begins today  

The Jatiya Sangsad goes into the budget session at 5 this afternoon. President Abdul Hamid on May 18 summoned the 2nd session of the 10th parliament as per Article 72 (1) of the Constitution.

The maiden session of the 10th parliament took place between January 29 and April 10.

Finance Minister AMA Muhith will place the national budget for fiscal year 2014-15 (FY15) at the parliament on June 5.

It will be the first national budget of the Awami League government after returning to power for the second consecutive term through its victory on January 5 parliament polls, BSS reports.

MuhithHowever, the FY15 budget will be the country’s 43rd budget and the 15th budget of the Awami League government while the 8th for Muhith.

The finance minister already indicated that the size of the national budget would be around Taka 2,50,000 crore. The original size of the budget for the current FY14 was Taka 2,22,491 crore, which was later revised down to Taka 2,11,220 crore.

Muhith is announcing the budget with higher allocation after the budget monitoring and resources committee at a meeting on April 2 recommended an outlay of the budget between Taka 2,50,000 crore and Taka 2,55,000 crore.

Earlier on May 20, the National Economic Council (NEC) approved the Annual Development Programme (ADP) of Taka 86,000 crore for the FY15. The size of the ADP rose from its previous estimate after incorporation of the projects of corporations and autonomous bodies of Taka 5,685 crore.

The actual ADP size, however, stood at Taka 80,315 crore if the own financing projects of the corporations and autonomous bodies are excluded.

The ADP for FY15 is around 32 percent higher over the revised ADP of Taka 60,000 crore for the current fiscal year. The original size of the ADP for FY14 was 65,870 crore.