Govt turning to all partners for budget support
The government is expecting $2.5-3 billion by June next year from multilateral lenders other than the International Monetary Fund to help the Bangladesh economy weather the storm caused by the Ukraine war.
Tk 678,064cr national budget for FY 2022-23 passed in parliament
Parliament today (June 30, 2022) passed the Tk 678,064 crore national budget for the fiscal year 2022-23, with the theme “Return to the Path of Development Leaving the Covid-19 Behind” to overcome the impact of coronavirus pandemic and Russia-Ukraine war on the economy.
Where is the money going?
Let’s consider, for the ease of understanding, that the government has proposed an expenditure plan involving Tk 100. In this
‘Ethically unacceptable’
Money laundered out of the country can be legalised in exchange of seven to fifteen percent tax under a new proposal aimed to boost revenue as well as mobilise foreign currency.
Nothing to make up for learning loss
The proposed budget did not offer any new way out for the recovery of learning loss of millions of students caused by the Covid-19 pandemic through school closures.
Tk 678,064 crore budget unveiled
Finance Minister AHM Mustafa Kamal unveiled a proposed budget of Tk 678,064 crore for 2022-23 fiscal year in the national parliament today.
Govt turning to all partners for budget support
The government is expecting $2.5-3 billion by June next year from multilateral lenders other than the International Monetary Fund to help the Bangladesh economy weather the storm caused by the Ukraine war.
Tk 678,064cr national budget for FY 2022-23 passed in parliament
Parliament today (June 30, 2022) passed the Tk 678,064 crore national budget for the fiscal year 2022-23, with the theme “Return to the Path of Development Leaving the Covid-19 Behind” to overcome the impact of coronavirus pandemic and Russia-Ukraine war on the economy.
Govt can save up to Tk 5,500cr with austerity measures: Finance Ministry
The government can expect to save up to Tk 5,500 crore for the austerity measures taken so far to preserve the foreign exchange reserves and tame inflation, according to the finance ministry.
Broadband, smartphones, laptops to cost more
With prices of mobile phones and broadband internet set to go up in the next fiscal year, the proposed budget would not be favourable to further development of the ICT sector, experts have said.
Gold import: Advance tax withdrawn
Withdrawal of the existing 5 percent advance tax on gold import has been proposed in the budget for fiscal 2022-23 to encourage import of the precious metal through formal channel and discourage its smuggling.
Subsidy allocation: 54pc rise proposed
The government has proposed an allocation of Tk 82,745 crore to run its subsidy programme for 2022-23, an increase of 53.7 percent from this fiscal year’s original outlay, creating a challenge to macroeconomic stability.
Where is the money going?
Let’s consider, for the ease of understanding, that the government has proposed an expenditure plan involving Tk 100. In this
BUDGET SNIPPETS
The tax-free income limit for individuals has been kept unchanged at Tk 300,000 for the next fiscal year. The threshold for women, senior citizens, individuals belonging to the third gender, physically challenged persons and wounded freedom fighters also did not see any change.
Job creation: an empty promise
Although Bangladesh is witnessing a golden hour in terms of demographic dividend, a lack of decent employment opportunities in the country is leading to rising unemployment among educated youths, according to experts.
Middle class: A slur is all they get
The new budget provides nothing for the uncle next-door who has spent his life pinching pennies in a rented flat, nothing for the millennial slogging away 60 hours a week and still wondering how to pay for their second child’s school fees, nothing for the mother hesitating to buy beef for a special day.