The government is set to place a Tk6.03 lakh crore national budget for the 2021-22 fiscal year in the parliament on Thursday, aimed at expediting economic recovery and bolstering efforts to save lives and livelihoods.

This will be the 50th national budget of the country coinciding with the golden jubilee of its independence, while the 13th in a row for the Awami League-led government.

At Tk603,681 crore, this budget is 6.28% or Tk35,681 crore higher than the budget of the current fiscal year, which was Tk568,000 crore.

This budget will also be the third straight budget for Finance Minister AHM Mustafa Kamal.

For the budget of FY22, the theme is Jiban O Jibikar Pradhanno, Agamir Bangladesh, which roughly translates to: Tomorrow’s Bangladesh, prioritizing lives and livelihoods.

Officials at the Ministry of Finance said that the budget will give special priority to health, agriculture, social safety net, employment, food and disaster management, and food security apart from addressing Covid-19 related issues.

The budget is also likely to incorporate some short, mid and long-term plans to address the various economic and social risks posed by the pandemic.

A Finance Ministry official, preferring anonymity, told BSS that the budget is likely to set a GDP growth target of 7.2% for the next fiscal year, while the government would eye containing inflation within 5.3%.

The original GDP growth rate for the current fiscal year was earlier set at 8.2% which was later revised to 6.1%. The size of the overall GDP in the next fiscal year would be Tk34.56 lakh crore and in comparison to that, the size of budget would be 17.47% of GDP.

The operating or non-development expenditure is likely to be about 60% or Tk361,500 crore of the next budget outlay, up by Tk13,320 crore from the allocation for the current fiscal year and Tk37,812 crore from the revised amount.