Dhaka, June 8 - The government is planning to announce a budget of around Tk 100,000 crore for the upcoming fiscal year, with a proposal to use up to 15 percent of the amount for subsidizing essential commodities, according to the finance adviser. This will be the first time in history that a caretaker government has suggested a complete budget for two consecutive fiscal years. Finance adviser AB Mirza Azizul Islam, who will present his second budget speech on Monday, mentioned that up to Tk 15,000 crore will be allocated for fuel, food, and fertiliser subsidies, which is three times higher than the previous fiscal year. Despite spending over Tk 70,000 crore on non-development sectors, the finance adviser assured that the overall budget deficit will not exceed five percent. Mirza Aziz stated that while the government will not be raising tax rates in the upcoming fiscal year, there may be an increase in import duty on certain goods to support local industry. He highlighted the challenges faced by Bangladesh in preparing the budget, such as fuel price spikes, the global food crisis, and natural disasters due to climate change. Despite the skyrocketing oil prices internationally, the government has refrained from raising fuel prices in response. Mirza Aziz emphasized that despite oil reaching $139 a barrel and rising by over $10 in a single day, the government has chosen not to raise fuel prices given the current economic situation. The adviser mentioned that the cost of a barrel of fuel was $62 on the global market when the government last raised fuel prices in 2007. In the fiscal 2007-08 budget, the overall deficit was projected at 4.2 percent. The adviser stated that the budget deficit was expected to slightly increase in the next year due to higher subsidies to sectors like fuel, fertiliser, and food. However, he assured that it would not exceed 5 percent. The finance adviser also mentioned plans to widen the tax net significantly in order to boost revenue income. The estimated revenue increase for the upcoming fiscal year is 17 percent. In the 2008-09 budget, Tk 43,850 crore was expected to be generated from NBR-controlled sources. The adviser mentioned that the tax system in the budget would be favorable for businesses, with a focus on reducing the discretionary power of tax officials and simplifying the tax collection process. The target growth rate for the gross domestic product is set at 6.5 percent, and the projected annual inflation rate is around 9 percent. The target for GDP growth in the fiscal year 2007-08 was 7 percent, with an average inflation rate of 6 percent. The finance adviser explained that achieving 7 percent growth in the fiscal year was not possible due to floods and cyclones. Initially, it was expected that the growth rate for the present fiscal year would be below 6 percent. However, recent data from the Bangladesh Bureau of Statistics indicates that the growth rate is actually 6.21 percent. In the previous fiscal year (2006-07), GDP growth was 6.5 percent. Mirza Aziz expressed that the main issue for Bangladesh's economy is inflation. He noted that the point-to-point inflation rate decreased by three percentage points to 7.7 percent in April, according to data from the Bureau of Statistics. In March, the point-to-point inflation rate was 10.06 percent. Aziz also mentioned that agriculture will be given top priority in the upcoming budget, with the highest allocation being made for the sector in the development budget. Mirza Aziz announced that the government has devised plans to create job opportunities for the underprivileged in the upcoming fiscal year. As part of the scheme, one member of each family will be compensated for 100 days of work. Additionally, the number of individuals benefiting from various government aid programs will be expanded. The government aims to boost the purchasing power of those with fixed incomes and plans to introduce a cost of living adjustment for government employees to alleviate the impact of rising prices. The finance adviser's budget speech will be aired live on government and private-owned TV and radio channels at 3pm on Monday. Similar to last year, the government is encouraging public scrutiny of the proposed budget by posting the budget speech, budget summary, and the government's annual financial statement on www.mof.gov.bd. Hard copies will also be available starting at 3pm on Monday. Anyone can access these documents, download necessary information, and provide feedback to the government by filling out the available forms until 5pm on June 16. Individuals and organizations can also submit written comments, recommendations, and criticisms for consideration in the final approved budget, ensuring public participation in the process. The government has identified several specific websites where the public can access the proposed budget, including www.bangladesh.gov.bd, www.nbr-bd.org, www.plancomm.gov.bd, www.imed.gov.bd, www.bdpressinform.org, and www.cao.gov.bd. Additionally, links to the budget documents will be provided on other government websites under the finance ministry and bdnews24.com.