The parliament today passed the Tk 7,97,000 crore national budget for the 2024-25 fiscal year with the aim of achieving 6.75 percent GDP growth rate and keeping annual inflation at around six percent
Two ruling Awami League MPs and a Jatiya Party MP today in parliament criticised the government for keeping the provision of whitening the black money in the proposed budget for 2024-25 fiscal
The parliament today passed the supplementary budget of Tk 30,643.51 crore for the fiscal 2023-24 to meet the increased expenditures under different ministries and divisions for the outgoing fiscal year ending June 30
Allocation of resources to the health sector and proper utilisation of that allocation are crucial for achieving universal health coverage (UHC)
Finance Minister Abul Hassan Mahmood Ali yesterday expressed hope that the government would be able to curb high inflation on the back of budgetary measures and the central bank’s steps.
Tax exemptions provided by the National Board of Revenue (NBR) are estimated to rise to Tk 163,000 crore in fiscal 2024-25 as the tax administration looks to ease the pressure on individuals and facilitate higher economic growth.
The proposed national budget for fiscal 2024-25 lacks concrete measures for addressing the current economic concerns, such as runaway inflation and depleting foreign exchange reserves, the Centre for Policy Dialogue (CPD) said yesterday.
Under the FY24-25 social safety net programme of Bangladesh, the pension for retired government employees and savings scheme interest payments account for nearly the same allocation as social assistance for the poor, the old and the disaster-struck.
The tax measures unveiled yesterday for 2024-25 are not going to provide any relief to taxpayers.
Default loans in the banking sector of Bangladesh hit an all-time high of Tk 182,295 crore, but no reform programme to reduce it has been announced in the budget for the upcoming fiscal year.
The government has hiked the supplementary duty on mobile top-ups alongside VAT on SIM cards, pushing up costs that will be incurred by mobile and internet users, which will inevitably put a financial strain on access to essential services.
In yet another blow to stock market investors, the government plans to impose a capital gains tax on them from next fiscal year.
The new budget for the upcoming fiscal year is unlikely to provide respite from one of the longest spells of sustained inflation in Bangladesh as the government’s measures appear to be missing the impetus required to contain the price spiral.
The food ministry spent less in fiscal 2022-2023 compared to fiscal 2009-2010, according to data on expenditure over the last 13 years.
The government has slightly reduced the allocations for transport and power and energy compared to the outgoing fiscal year.
Bangladesh’s per capita income will be $3,000 at the end of FY25 as the government expects economic growth to recover. Per capita GDP is projected at $2,780 at the end of FY24. It has been growing steadily over the last two decades. It was $700 in 2000 and about $300 in 1990.
While the cost of living remains high, with the inflation rate hovering at over 9 percent throughout the year, no ray of hope came for the common people in the budget declared yesterday. This is upsetting for the low and middle-income groups of society.
