Dhaka, Bangladesh (BBN)-Finance Minister AMA Muhith placed Tk 2,50,506 crore budget outlays for fiscal 2014-15 at the National Parliament of Bangladesh on Thursday.

The minister outlayed the proposed budget throught a powerpoint presentation.

The revenue target of the budget has been set at Tk 1,82,954 crore while the deficit in the budget would be Tk 67,552 crore which is 5 percent of the GDP.

The revenue collection target for the next fiscal year has been set at Tk 1 82, 954 crore, which is 13.7 percent of GDP, of which NBR tax revenue is Tk 149, 720 crore. Revenue from Non-NBR sources has been estimated at Tk 5,572 crore. In addition, Tk 27, 662 crore will be collected as Non Tax Revenue.

Tk 80,315 crore has been allocated to the Annual Development Programme (ADP), 32 percent of which for 26 big projects.

The government has set 7.3 percent gross domestic product (GDP) growth target for this fiscal.

Earlier in the afternoon, the cabinet at its special meeting approved the budget with Prime Minister Sheikh Hasina in the chair at the Parliament Complex Bhaban in the capital, Dhaka.

This is 43rd budget of the country while eighth for Muhith under the Awami League-led grand alliance government.

Some mega projects like Padma Bridge, Dhaka-Chittagong Four-lane highway and some power plants, including Rooppur Nuclear Power Plant would be given priority in the budget, sources said.

This year’s budget is around 16 percent bigger than the revised budget of Tk 2,11,220 crore of the outgoing 2013-14 financial year.

The original size of the FY14 budget was Taka 2,22,491 crore.

BBN/AS/AD-05June14-3:36pm (BST)