Bangladesh unveils USD 19.09 bn budget
Bangladesh today unveiled a USD 19.09 billion budget for Financial Year 2010-11 with an aim to achieve a GDP growth of around seven per cent, banking on a post-recession positive world economic outlook.world Updated: Jun 10, 2010 22:32 IST
Bangladesh on Thursday unveiled a USD 19.09 billion budget for Financial Year 2010-11 with an aim to achieve a GDP growth of around seven per cent, banking on a post-recession positive world economic outlook.
Presenting the budget through Powerpoint for the first time, Finance Minister Abul mal Abdul Muhith forecast a record 6.7 per cent growth and outlined a new plan to solve the crippling energy shortages.
The proposed budget aims to secure almost 70 per cent of the outlay from domestic revenues and shows an increase of 20.15 per cent from the current year's revised budget.
Muhith said the budget will stand at USD 19.09 billion (1.32 trillion Taka). The single largest allocation of Taka 6,114 crore was made to the Power sector with the government planning to generate 9,426 megawatts of additional electricity
every day within five years. It denotes an 81 per cent rise from the Taka 3,786 crore for current fiscal ending June 30.
"The ongoing power crisis has been hurting the ordinary citizens, slowed industrial production and hampered trade," the minister said.
Bangladesh's business circle in an instant reaction highly lauded the Finance minister for the higher allocation to the Power sector with the apex Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) saying "the government addressed our concerns in the budget".