Parliament this afternoon passed Tk 3,40,605 crore national budget for FY 2016-'17 aimed at higher GDP growth, lower inflation and gearing up investment.

Finance Minister AMA Muhith moved the Appropriations Bill, 2016 which was passed by voice vote.

A total of 242 parliamentarians joined the general discussion on the proposed budget in the House for a total of 58 hours and 11 minutes.

Following the proposal mooted in the House by the Finance Ministry for the parliamentary approval of appropriation of fund for meeting necessary development and non-development expenditures of the government, the ministers concerned placed justifications for the expenditures by their respective ministries, through 56 demands for grant.

Earlier, parliament rejected by voice vote a total of 420 cut-motions that stood in the name of opposition and independent members on 56 demands for grants for different ministries.

A total of nine Jatiya Party and independent MPs submitted their cut-motions on the budget. The nine MPs are Jatiya Party lawmakers Kazi Firoz Rashid, Fakhrul Imam, Nurul Islam Omar and Nurul Islam Milon, and independent lawmaker Selim Uddin, Rustum Ali Faraji, Tahjib Alam Siddique and Abdul Matin.

They were allowed to participate in the discussion on seven demands for grants related to the Bank and Financial Institutions Division, the Planning Division, the Education Ministry, the Health Ministry, the Local Government Division, the Disaster Management and Relief Ministry and the Religious Affairs Ministry.

Muhith says Govt is worried about plundering in banking sector

In reply to the cut-motions of the demand for grant related to the Bank and Financial Institution, Muhith said they are also worried about plundering in the banking sector.

"We're taking steps to prevent the recurrence. We're investigating all the incidents and cases are being filed against those involved. You can be assured that the ACC will bring them under trial," he said.

Later, Speaker Dr Shirin Sharmin Chaudhury applied guillotine to quicken the process of passing the demands for grants for different ministries.

Opposition and independent parliamentarians were present at the House when the Appropriation Bill was passed.

Earlier on June 2, the Finance Minister placed the Tk 3,40,605 crore national budget for FY17.

Earlier, on Wednesday, the House passed the Finance Bill-2016, with some changes as proposed by the Finance Minister to the original one that was placed before the House at the time of the presentation of the budget for fiscal 2016-17 on June 2 last.

The Finance Bill 2016 was passed curtailing tax at source on all export earnings. The tax at sources was reduced at 0.70 percent from the proposed 1.5 percent.

With the passage of both the Appropriation Bill-2016 and the Money Bill-2016, the national budget of Tk 3,40,605 crore for fiscal 2016-17 got the approval of Parliament on the last day of the current financial year.

Parliament session adjourned till July 17

The ongoing session of current parliament was adjourned yesterday till July 17.

Speaker Shirin Sharmin Chaudhury made the announcement immediately after the passage of the Tk 3, 40,605 crore national budget for FY 2016-'17 on the last day of the outgoing fiscal year.

A total of 242 MPs joined the general discussion on the proposed budget in the House for a total of 58 hours and 11 minutes.