The National Budget of Taka 57,248 crore for the fiscal 2004-2005 was placed in parliament on Thursday, proposing the highest allocation of Taka 7680 crore for the education sector.
Placing the budget in the House Finance Minister M Saifur Rahman said that the income was establishment at Taka 43,189 crore including foreign grants of Taka 1,889 crore. The deficit of Taka 14,059 crore would be financed from foreign loan, borrowing from banking system and national saving instruments.
The new budget is 16 per cent higher than that of the revised budget of Taka 49,367 crore for the outgoing fiscal of 2003-2004. The original budget was Taka 51,980 crore.
Taka 22,000 crore, which is 16 per cent higher than the revised budget of Taka 19,000 crore of the outgoing fiscal, has been allocated for the Annual Development Programme (ADP) in the new budget.
Saifur Rahman said that 55.5 per cent of the ADP would be financed from the country's own resources and the remaining 44.5 per cent would come in the form of foreign assistance.
He said that 62 per cent of the development budget and 42 per cent of the non-development budget were allocated for direct and indirect poverty reduction programme.