JS passes Tk 4,64,573 crore budget for FY19

Publish: 2:47 PM, July 1, 2018 | Update: 2:47:PM, July 1, 2018
JS passes Tk 4,64,573 crore budget for FY19

The Jatiya Sangsad (JS) on Thursday passed a Tk 4,64,573 crore national budget for fiscal 2018-19 setting the GDP growth target at 7.8 percent in a bid to further alleviate poverty, reduce inequalities and bring basic and qualitative changes in the living standards of the people, reports BSS.

Finance Minister Abul Maal Abdul Muhith moved the Appropriations Bill, 2018 seeking a budgetary allocation of Taka 571833,82,92,000 which was passed by voice vote.

Following the proposal mooted in the House by the Finance Ministry for parliamentary approval of appropriation of fund for meeting necessary development and non-development expenditures of the government, the ministers concerned placed justifications for the expenditures by their respective ministries, through 59 demands for grant.

Earlier, parliament rejected by voice vote a total of only 448 cut-motions that stood in the name of opposition and independent members on 59 demands for grants for different ministries.

A total of nine MPs from Jatiya Party and independent submitted their cut-motions on the budget.

The opposition and independent lawmakers proposed a total of 448 cut motions, but they only spoke on the motions for five demands for grants, which were rejected by voice votes.

They were allowed to participate in the discussion on Higher Secondary and Higher Education Division, Health Ministry, Local Government Division, Disaster Management Ministry and Railways Ministry.

Later, Speaker Dr Shirin Sharmin Chaudhury applied guillotine to quicken the process of passing the demands for grants for different ministries without giving the lunch break.

Opposition and independent MPs were present in the House when the Appropriation Bill was passed in parliament and they did not raise any voice against passing of the bill.

Earlier on Wednesday, the Finance Bill 2018 was passed in Parliament with some changes in VAT and tariff rates, aiming to boost the ICT sector and promote local industries.