Power generation companies, including rental ones, may see an end to a zero-duty benefit on their import of machinery, equipment and spare parts from next fiscal year as the government moves towards generating more revenue curtailing the practice of handing out tax exemptions.
Investors in the economic zones and hi-tech parks in Bangladesh may see an end to the zero-duty benefit on imports of capital machinery, components and construction materials next fiscal year.
The bureaucratic system in the country needs to be dismantled, and the people need to be empowered to prepare a people-friendly budget, said speakers at a seminar yesterday.
Bangladesh does not have a dedicated nutrition budget. On top of that, ministries don’t utilise the full funds allocated to them for nutrition related activities, said speakers at an event yesterday.
Speakers at a press conference yesterday urged the government to ensure the effective allocation, implementation, and evaluation of the gender budget designated for women’s empowerment in the 2024-25 national budget.
Prime Minister Sheikh Hasina yesterday directed the finance ministry to formulate a contractionary budget for the upcoming fiscal year to control inflation.
Education and health sectors are set to get less Annual Development Plan allocation than prescribed in the eighth five-year plan.
The measures include keeping the tax-exempt income threshold unchanged at Tk 3.5 lakh, a move that is expected to increase revenue receipts and bring more people under the tax net.
The forthcoming national budget could create a renewable energy fund to further stimulate the renewable energy sector’s progress.
The tax on cigarettes in Bangladesh should be raised in the national budget for fiscal 2024-25 to boost the country’s revenue generation and minimise health risks, according to experts.
The upcoming budget should adopt a balanced approach to address economic slowdown and inflationary pressure.
About 22 percent of the respondents placed top priority on decent jobs, 17.5 percent on quality education and 12 percent on social protection, said the associated report.
Persistent high inflation, high debt burden and slow economic growth are the three challenges facing the economy, noted economist Debapriya Bhattacharya said yesterday.
How do you define a good budget? Should it be all-inclusive? Should it be too large? Or should it only focus on the possible future of the nation and allocate more to education and healthcare?