National Budget 2019-20
NGO’s want more budget for the disabled
A group of non-government organisations have called upon the government to reconsider the budgetary allocation for people with disabilities.
Budget Discussion: Opposition slams govt over paddy price
Opposition lawmakers yesterday came down heavily on the government for its failure to ensure fair price of paddy and check money laundering, soaring loan defaults and black money.
New VAT law will push up living cost
The new VAT law may increase cost of many goods and services and hurt consumers, analysts said yesterday.
The affluent to benefit more
The budgetary measures for fiscal 2019-20 will favour the beneficiaries of “economic misrule” and hurt the middle and lower mid-income groups, the Centre for Policy Dialogue said yesterday.
New budget to increase inequality
Terming the proposed national budget “highly ambitious”, the BNP yesterday said the people of the country would not accept the budget as it would increase inequality.
Make new VAT law business-friendly
Leading business associations yesterday urged the government to ensure easy, hassle-free and business-friendly implementation of the new VAT law.
Pay more for digital delight
At a time when the government should be encouraging virtual businesses, Finance Minister AHM Mustafa Kamal has proposed 7.5 percent value-added tax on them in his budget for fiscal 2019-20, making their services dearer.
TIB slams amnesty for black money
Transparency International Bangladesh (TIB) yesterday strongly condemned the proposed amnesty for black money in the budget for fiscal 2019-20 and termed it “unconstitutional, immoral and discriminatory”.
THE BIG FOUR
THE BIG FOUR
New VAT Regime New concern for consumers
Shifting from its initial plan to slap a uniform rate, the government has finally proposed four rates of Value Added Tax to please businesspeople and take them on board to implement the new VAT law from the next fiscal year.
Devalue Taka to help garment exporters
The government should support the garment exporters by devaluing taka against US dollar instead of giving them direct cash incentives, two economists said yesterday.
Smoking gets costlier
The government has significantly raised the prices of tobacco products to curb consumption.
PLEDGES there, ‘HOW’ missing
Rejaul Karim, a college teacher by profession, took a personal loan of Tk 6 lakh at 9.50 percent interest from a private commercial bank in 2015 to tackle some family emergencies.
Challenge lies in implementation
A look at the revised budget for the outgoing financial year and its state of implementation up to the month of March reconfirm the main weakness of our financial management, namely, the persistently low revenue mobilisation that routinely misses its target.
Smartphone import to be costlier
Imported smartphones are scheduled to turn much costlier as the government has proposed increasing supplementary duty from 10 percent to 25 percent.
Gloom of growers not going away
Gani Mia is a farmer with no land of his own. He grows paddy, jute and other crops in others’ fields. His story, though fictitious, is in school textbooks and etched in the minds of many. It stands true for a large number of the country’s farmers, especially the marginal ones.
BUDGET SPEECH: PM helps out ailing Kamal
Prime Minister Sheikh Hasina yesterday presented parts of the national budget as Finance Minister AHM Mustafa Kamal fell sick halfway through his speech.
Safety for 16 lakh more
In a push to widen the social safety net, the government decided to include all registered differently abled people, and more marginalised and vulnerable ones under its protection.
Deficit financing to be expensive
The government has resorted to deficit financing, largely through bank borrowing and sale of high-cost savings certificates, increasing the interest payment burden on its shoulders and fuelling inflation.
