Finance Minister AMA Muhith yesterday admitted that the revenue collection target for next fiscal year is high but the National Board of Revenue is ready to achieve it

"We know that our target is ambitious -- it is very high. We have decided to give a push this time and we want to do it” he said while responding to queries from journalists at a post-budget press conference at Osmani Memorial Auditorium in Dhaka.

Muhith said the NBR's manpower has been doubled and they have all been trained.

If the country wants to hit the 7 percent GDP growth target extra efforts must be made, he said. "In my consideration, the nation as well as the NBR is ready for it."

NBR Chairman Md Nojibur Rahman also said the tax authority has the capacity to collect Tk 200,000 crore in any given year. Since the target for fiscal 2015-16 is lower than that, his team can achieve it.

Although the government has revised down the revenue collection target for this fiscal year after weak performance, the finance minister is still aiming for a 27 percent growth in the upcoming fiscal year.

Not only the revenue collection target, the budget size has also been increased to Tk 295,100 crore for fiscal 2015-16.

The finance minister said measures have been taken to bring in new taxpayers and the additional taxes will come from them.

When Muhith assumed the role of finance minister six years ago, the total number of taxpayers stood at 7 lakh. The number now is 11 lakh. "The increase is very slow, very slow.”

Many said that no specific guideline was followed for implementing the budget, he said. "But I don't know what they are saying about a specific plan. The issue of implementation has been mentioned everywhere in my budget speech, since it is the main challenge."

The finance minister said the average realisation of annual development programme was 95 percent in the last five fiscal years. This year's realisation would be about 96 percent.

"So, we have made progress in the realisation due to various reforms and rules and regulations."

Special measures have been taken for the projects that are slow moving and these are reviewed every month, he said.

Despite repeated questions on defence budget and on implementation of salary hike of monthly pay order-listed teachers from this July, the finance minister said: "It is not possible to answer all questions all time. I hope you will accept it."

Replying queries on amnesty to black money, he said there are provisions in the Income Tax Ordinance that allows a person to declare illegal wealth and legalise the sum after paying penalty.

"This was there last year, is present

this year and will continue in the coming years. That's why I didn't mention it separately in my budget speech."

About the 5 percent supplementary duty on mobile phone talk time, Muhith said such duty is in practice in other countries around the world.

"The mobile industry has grown and it is matured at the moment. The industry has the capacity to give the duty."

Planning Minister AHM Mustafa Kamal hoped that the development outlay of Tk 97,000 crore is implementable with equal expenditure in every quarter.

It has become a tradition to spend around half of the development budget in the first three quarters, but the pace accelerates in the fourth quarter when 40 to 45 percent of the development outlay gets implemented, he said.

"But we are trying to get out of the practice and spend the total development outlay equally in every quarter, and if we can do it the annual development programme can be implemented properly, " he said while replying to queries.

Furthermore, several reform measures have been taken to facilitate full implementation of ADP, he added.

Agriculture Minister Matia Chowdhury said farmers are getting 30 percent cash incentives on export, enjoying 20 percent tax rebate on electricity bills for irrigation, receiving agri-loans at 8 percent interest and seed loans at 4 percent interest.

"Ambitious thinking is not a bad thing to move the nation forward. Those who don't want development will think like this," said Industries Minister Amir Hossain Amu.

Information Minister Hasanul Haq Inu said it is not a "dream-budget" but it is certainly implementable.

Bangladesh Bank Governor Atiur Rahman said the government bank borrowing target will not crowd out the private sector from credit as there is enough liquidity in the banking system.

Mahbub Ahmed, senior secretary to finance division, said though budgetary allocation to the education sector in terms of GDP has been reduced for next fiscal year, the absolute figure has been increased year-on-year.

Mohammad Mejbahuddin, senior secretary to economic relations division, said per capita foreign loan is now $160.