Parliament passes national budget for FY 2024-25 targeting GDP growth at 6.75pc, inflation at 6 pc

New Budget Targets 6.75% Growth, 6% Inflation

On Sunday, June 30, the parliament approved the Tk 797,000 crore national budget for FY 2024-25, aiming for a 6.75 percent economic growth and keeping annual inflation around 6 percent.

Finance Minister Abul Hassan Mahmood Ali introduced the Appropriations Bill 2024, requesting a budget allocation of Tk 12,41,752 crore, which passed by voice vote.

Earlier, on Saturday, the parliament passed the Finance Bill 2024 with minor amendments.

The Finance Ministry proposed parliamentary approval for the appropriation of funds for necessary development and non-development expenditures. The concerned ministers justified their ministry’s expenses through 59 grant demands.

Parliament rejected 251 cut-motions from opposition members on these grant demands via voice votes. Seven MPs, including Jatiya Party’s Mujibul Huq and Hafiz Uddin Ahmed, and Independent MP Pankaj Nath, were allowed to discuss the Law Ministry, Secondary and Higher Studies Division, and Social Welfare Ministry.

Speaker Shirin Sharmin Chaudhury expedited the passing of grant demands for different ministries without a lunch break. Opposition and independent MPs present in the House did not object to the Appropriation Bill’s passage.

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