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National Budget Analysis

Areas and Jurisdictions of National Budget.

The forecast of a government's expenditures and revenues for a specific period of time is covered by a National Budget. The period covered by a budget of the government of Bangladesh is a financial year that starts on 1 July of a calendar year and ends on 30 June of the next calendar year. Government budget contains the strategies for mobilisation, allocation and disbursement of public money by means of fiscal and monetary operations with due consideration of political, economic, and bureaucratic decision making process. It developed in Bangladesh on the basis of legal requirements, economy's management needs, conventions, functional conveniences as well as Accounting and auditing requirements, including transparency and accountability.

The Constitution of Bangladesh, however, does not use the term budget. Instead, it uses an equivalent term 'Annual Financial Statement', which is to show the estimated receipts and expenditures of the government for a particular financial year.

Government budget in the country has two parts: Revenue and Development. The former is concerned with current revenues and expenditures i.e, maintenance of normal priority and essential services, while the latter is prepared for development activities. Formulation of the two budgets follows different procedures. Their financing pattern and the delegated authorities of incurring expenditure in different tiers in them are also different. Receipts in revenue budget are: domestic receipts (tax and non-tax); foreign grants; capital receipts (foreign loans); domestic capital (net of current receipts and expenditures in public accounts); extra-budgetary resources (debenture of autonomous bodies, their self-financing and accumulated balance, and materials at stock); and domestic loans and advances (net).

Development Budget

Receipts in development budget are grouped as public and private receipts. Public receipts are the revenue surplus (revenue receipts minus revenue expenditures), incomes through new measures (such as new taxes), net domestic capital, and extra budgetary resources. A special form of public receipts is the Foreign Aid (project aid, counterpart fund from commodity aid and net food aid). Receipts under the private head for development budget are generated through direct private investment, borrowing from Banking System and foreign private investment. Revenue budget is prepared by the Finance Division and the agency to prepare the development budget is the Planning Commission.

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Assessment of Budget for FY : 2011-12
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Bangladesh Budget 2011-12 Review
Budget 2011-12 Analysis by CPD
National Budget Making Process
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Revenue Budget :

Preparation of the revenue budget is a multi-stage process implemented under a time schedule. The first stage is the printing of departmental estimates, which is followed by printing and distribution of Budget Forms (Estimating Officer's forms) for supply to the accounts officers concerned, who fill them up with estimates from all controlling offices and send consolidated estimates to the ministry of finance. The ministry of finance then examines the estimates, receives schedule of new expenditures and information on actual expenditures of agencies and organisations in last six months, reviews new estimates on the basis of these information, and prepares a rough edition of the budget and the schedule of new expenditures. The ministry also collects forecasts of foreign development assistance and development programmes from ministry of planning and after making necessary adjustments, prepares the budget documents for presentation in the Jatiya Sangsad (Parliament) for discussion and approval.

Development budget of the government of Bangladesh is a result of a continuous process of identifying new projects, review of project concept papers (PCPs), and vetting of the projects in ministries and in the Executive Committee of the National Economic Council (ECNEC). Usually by December, the Economic Relations Division (ERD) prepares aid memorandum, circulates it to the ministries for their comments, and based on domestic resource projections by National Board of Revenue and the Internal Resources Division, the ERD revises the aid memorandum. The document is then sent to the Cabinet for approval. Resource position for revenue expenditure and budget is then estimated and the Programming Committee finalises eligible projects for inclusion the Annual Development Programme (ADP). In fact, ADP is the development budget, which, like the revenue budget requires approval of the parliament.

Two constituent parts of the government budget are the consolidated funds (Fund) and the public accounts (Account). These are not separate entities but are distinguished by differences in receipts and disbursements. The transactions in both heads represent inflows and outflows of funds from a single corpus known as the 'exchequer'. The overall balance of the budget, its surplus or deficit, is represented by the difference between total receipts and expenditures of the Fund and Account together.

Consolidated Fund includes all receipts of the government, all loans and grants received from domestic and foreign sources and the recoveries of loans and interest thereon. All disbursements for both revenue and development heads are made from the Fund. A part of revenue expenditure is known as 'Charged Expenditure', which may be discussed in the parliament but voting is not required. Receipts in Public Accounts of the Republic represent the part of the exchequer, which do not constitute the Consolidated Fund. These relate mostly to transactions, in respect of which the government acts as custodian or banker in trust. These receipts include provident funds of government employees, post office savings deposits, various deposit accounts (local funds, judicial deposits, foreign aid deposits etc.), and adjusting heads like suspense and remittances. Some of these transactions are only book transfers. The expenditures comprise disbursements, which are set off against receipts and the difference between receipts and expenditures represents a net accretion or depletion to cash resources......Click for details
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