Govt expenditure reduced by Tk 47,367 crore in revised budget

The government has reduced its expenditure by Tk 47,367 crore in the revised budget for the outgoing fiscal year 2023-24, bringing it down to Tk 714,418 crore.

In the budget for FY24, total government expenditure was estimated at Tk 761,785 crore.

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However, considering overall government expenditure till April, it was proposed to be reduced by Tk 47,367 crore, a budget document for fiscal year 2024-25 said.

Of this, the allocation for annual development programmes is proposed to be Tk 245,000 crore, down Tk 18,000 crore from the original allocation.

In the budget for the current fiscal year, a deficit of Tk 261,785 crore was projected.

In the revised budget, a deficit of Tk 236,418 crore is proposed, which is 4.7 percent of GDP.

It is noteworthy that the deficit was projected at 5.2 percent of GDP in the original budget.

The revised budget proposed to finance Tk 156,625 crore of the total deficit from domestic sources and the remaining Tk 79,793 crore from foreign sources.