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Eyes locked on immediate priorities
Tackling inflation, improving power generation, expanding social safety net get major attention in proposed budget
Finance Adviser Mirza Azizul Islam yesterday proposed a budget for the next fiscal year setting his eyes on the current development priorities--tackling inflation, spending on power and infrastructure,
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Tk 87,137cr budget banks heavily on bank borrowing
The caretaker government yesterday proposed a budget of Tk 87,137 crore for the fiscal year 2007-'08, making it 30 percent bigger than the revised budget for the current fiscal, relying heavily on massive
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Budget big in size, highly ambitious
Term AL, BNP
Terming it highly ambitious and big in size, the Awami League (AL) yesterday said the proposed budget does not outline how the interim government will go about tackling price hike of essentials.
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What's Up, Down
UP
Customs duty on CNG-run CBU bus may be increased to 15 percent from 5 percent to encourage assembling industry for CNG-run bus.
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Load-shedding free Bangladesh by 2010
Govt goes for 31pc higher allocation for the struggling sector
The government eyes a load shedding-free Bangladesh by 2010, finance adviser said in his budget speech yesterday.
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Worry over proper implementation
Says Akbar Ali /i>
Appreciating the first-ever provision of taking public opinions about budget into account, former caretaker government adviser Akbar Ali Khan set out power sector development and checking high inflation
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Safety net brackets more beneficiaries
Tk 25cr fund proposed for RMG workers' welfare
The caretaker government (CG) has proposed to strengthen the ongoing social safety net programmes by increasing the number of beneficiaries and funds for them in the budget for the next fiscal year.
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Essentials
Drastic measures to rein back prices
In the proposed budget, the caretaker government has unveiled various measures including complete withdrawal of customs duties on some commodities and distribution of 10 lakh metric tons of food grains
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Solid support for farm sector
Tk 2,250cr subsidy proposed on fertiliser, diesel
The proposed national budget for 2007-08 fiscal year introduced Tk 750 crore subsidy for diesel used to run irrigation equipment and increased the fertiliser sub-sector subsidy from previous Tk 1,100crore
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Edible oil, lentil import made duty free
The budget for the 2007-08 fiscal year proposed withdrawal of the four percent infrastructure development surcharge on import and customs duty on crude edible oil and lentil to keep the market price tolerable.
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VAT net widens
The proposed budget for 2007-08 has extended the VAT (value added tax) network bringing more goods and services within the net.
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Priority on positives
Observe economists
Renowned economist Debapriya Bhattacharya said the proposed budget reflects the government's ongoing infrastructure reform initiatives while Zaid Bakht termed implementation of "such a big budget" a challenge
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Tax-free income limit pushed up to Tk 1.5 lakh
The budget for fiscal 2007-08 brings forward a 13-point proposal for changes in the income tax structure including increasing the exemption limit of income tax for an individual to Tk 1.
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Mamun jailed for 3yrs by anti-graft court
A special anti-graft court yesterday sentenced Giasuddin Al Mamun, a controversial businessman and close friend of former prime minister Khaleda Zia's son Tarique Rahman, to three years' imprisonmentfor
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Polls roadmap by mid-July
CEC tells EU Troika
Chief Election Commissioner (CEC) ATM Shamsul Huda yesterday said the Election Commission (EC) would be able to declare by mid-July a roadmap for the next general election.
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25pc budget fund set aside for HR development
The caretaker government has proposed a Tk 19,701-crore budgetary allocation for human resources development which, it believes, is the cornerstone of social infrastructure development.
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EC gets Tk 536cr for election preparation
Finance Adviser Mirza Azizul Islam yesterday proposed an allocation of Tk 536 crore for the Election Commission (EC) to complete all preparations for holding the next parliamentary election.
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ICT sector gets 21pc higher allocation
Finance Adviser Mirza Azizul Islam yesterday proposed an allocation of Tk 1,899 crore, which is 21 percent higher than that of the revised budget and 2.
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Tk 550cr extra fund for jobs for rural poor
The finance adviser yesterday in his budget speech proposed an extra Tk 550 crore to be spent for employment generation in rural areas for the fiscal year 2007-08 through mostly non-government organisations
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Khaleda trashes graft charges
BNP chief and former prime minister Khaleda Zia yesterday said the corruption allegations brought against her in newspapers are false and fabricated.
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Hasina vows to establish people's rights
Awami League (AL) President Sheikh Hasina yesterday said her main mission is to establish people's rights--fundamental, democratic and voting--so they can elect the government of their choice by exercising
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UN asks govt to quickly enact anti-terror law
The visiting UN counter-terrorism team yesterday urged the government to quickly pass anti-terrorism law and strengthen the anti-money laundering law in conformity with the international counter-terrorism
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US immigration bill fails key test-vote
A fragile bipartisan compromise that would legalize millions of unlawful immigrants suffered a setback yesterday when it failed a test vote, leaving its prospects uncertain.
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