The government is eyeing to attain a revenue collection target of Taka 5 lakh crore in the next fiscal year (FY24).

Total revenue is estimated at Tk 5 lakh crore for the next FY2023-24. Out of this, govt to collect Tk 4 lakh 30 thousand crore through the National Board of Revenue and Tk 70 thousand crore from other sources.

Finance Minister AHM Mustafa Kamal said this while placing the proposed budget for FY24 at Jatiya Sangsad on Thursday.

He said the budget size for the next FY2023-24 is estimated at Taka 7,61,785 crore, which is 15.2 percent of the GDP. "I propose to allocate a total of Tk 4 lakh 36 thousand 247 crore to operating and other sectors and Tk 2 lakh 63 thousand crore to the Annual Development Programme," Kamal added.

The overall deficit in the proposed budget will stand at Tk 2,61,785 crore, which is 5.2 percent of GDP. It should be noted here that the deficit rate was 5.5 percent in the previous budget. 

Out of the total deficit, Taka 1,55,395 crore are proposed to be financed from domestic sources and Tk 1,02,490 crore from external sources.