fiscal year 2022-23
Pharmaceutical shipments making a turnaround
Pharmaceutical shipments from Bangladesh are slowly making a turnaround with a gradual improvement in the global US dollar crisis, according to drug exporters.
ADP execution rate in Jul-Jan lowest in 3 years
The first seven months of the current fiscal year of 2022-23 saw the lowest implementation rate of the annual development programme (ADP) in the last three years, with only 28.16 per cent of the total outlay being spent till January.
Tax collection growth on the decline
Tax collection growth slowed drastically in the first half of the current fiscal year due to falling customs tariff and direct taxes amid declining imports and reduced profits of firms, limiting the government’s scope to spend on development activities.
Balance of payments deficit to go thru the roof this fiscal year
Bangladesh’s balance of payments (BoP) deficit would widen massively in the current fiscal year than the central bank had earlier projected owing to escalated imports, lower remittances and export receipts, and higher accumulation of debts.
Export earnings rise 15% to $3.98 billion in July
Export earnings grew by 15 per cent year-on-year to $3.98 billion in July, the first month of the current fiscal year.
US$ 1.64bn remittance received in 21 days of July: Bangladesh Bank
Bangladesh received US$ 1.64 billion inward remittance till July 21, due to Eid-ul-Azha when Bangladeshi migrants sent more money to families to celebrate one of the biggest festival of Muslims, according to data from Bangladesh Bank.
Govt targets lower export growth for global turmoil
Bangladesh is targeting a lower export growth in 2022-23 despite raking in a record $52.08 billion in the last fiscal year largely because of insignificant strides in products and markets diversification and ongoing global turmoil.
VAT on mobile phones to burden consumers, employees: Experts
In the proposed budget for the fiscal year 2022-23, Finance Minister AHM Mustafa Kamal proposed to withdraw the 5% VAT exemption facility on the trading stage of mobile phones. Instead, VAT will be imposed at different individual stages of the mobile handset businesses—from production to retail.
Raise tax-free income limit
The government should raise the tax-free income limit in the upcoming fiscal year to give some relief to people as they have hit hard by rising inflationary pressures, said speakers at an event today.
7.5pc GDP growth target unrealistic, says economist
The national budget for fiscal year 2022-23 predicted a gross domestic product (GDP) growth of 7.5 per cent, which is unrealistic and not objective, AB Mirza Azizul Islam, former adviser to the caretaker government, said yesterday.
Tax measures: Relief for the rich, burden for others
Over the last couple of months, various sections of society called upon the government to raise the tax-free income limit amid the rising cost of living.
Budget FY2022-23: How much did general people gain?
What percentage of public demand was reflected in the budget for the fiscal year 2022-23?
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.
Cabinet okays National Budget for FY 2022-23
The Cabinet at a special meeting today approved the proposed national budget for the fiscal year 2022-23.
Process on to collect $1.5b as budget support
Prime Minister Sheikh Hasina yesterday said the government started a process to collect an additional $1,000 million as budgetary support to tackle future emergency situations and the economic crisis stemming from the Russia-Ukraine war.
FY 2022-23 budget to be cautiously larger
The government is preparing the budget in a cautious way, refraining from increasing expenditure by too much of an extent, keeping in mind the ongoing global economic crisis stemming from the pandemic and Russia-Ukraine war, State Minister for Planning Shamsul Alam said.
Issues that should be in focus in budget 2022-23
The finance minister of Bangladesh is scheduled to place the national budget for 2022-23 fiscal year at parliament on June 9.
Tax-free income limit likely to be unchanged
The government is likely to keep the tax-free income limit unchanged for fiscal year 2022-23 in order to expand the tax net, said officials of the finance ministry.