The budget for next fiscal year could be set at Tk 468,000 crore, which would be higher than current year's by almost 17 percent, as the finance minister plans to deliver an annual outlay that is simple but not uninspiring. 

Finance Minister AMA Muhith said he would not prepare the budget for fiscal 2018-19 in a lacklustre way because he feels the government would be able to retain power in the next elections.

The government yesterday commenced its preparation work for the next budget after a meeting of two committees on budget monitoring was held.

After the meeting, Muhith disclosed the primary figure of the budget for next fiscal year to reporters.

“The next budget will be simple but it will not be uninspiring. I think we will win the next elections and the budget will be prepared accordingly.”

The current budget of Tk 400,266 crore could be revised down by 7.31 percent to Tk 371,000 crore later in the year, according to the finance minister.

On the basis of the preliminary budget figure, the finance division will hold meetings with ministries and divisions before coming up with a final figure.

Muhith said this year's budget implementation has been progressing very well. 

“In the last fiscal year, the ADP [annual development programme] implementation was not good enough.  However, this time the ADP implementation rate is much better than last year's. Revenue earning has been good so far.”

Muhith said the government had targeted to raise the number of taxpayers to 25 lakh this fiscal year.

But, it has already surpassed 32 lakh.  “A big part of the number is young taxpayers.”

Muhith said the planning minister has informed him that the GDP growth target of 7.4 percent set for the current fiscal year would be crossed. 

The growth will surpass the target despite crop losses, according to the finance minister. 

Muhith plans to allocate funds for the Rohingyas, who had fled violence in Myanmar, in the next budget as the government has to meet their daily needs.

The process to repatriate the Rohingyas is expected to start within a couple of months.

But Muhith said some of them might choose not to go back.