The proposed budget was very timely considering the various global and domestic economic challenges, said Asif Ibrahim, chairman of Chattogram Stock Exchange.

In particular, the size of the budget is limited to Tk 7.97 lakh crore.

"The rate at which the budget has observed increasing trends in the previous years, has not been observed in this budget. This may give some relief to the overall taxpayers," he said in his budget reaction.

He also said the revenue collection target set at 5.41 lakhs crore may be somewhat challenging due to the current macroeconomic crisis.

"The inflation control target has been fixed at 6.5 percent. But considering the current global economic situation, how inflation will be brought down from 9.30 percent is still not clear in the budget framework," he said.

He said the target GDP growth of 6.76 percent will depend on properly addressing the challenges of private investment growth, especially effectively handling the currency crisis with corporate governance in the financial sector and smartly managing the pressures of other rising input costs.

"We expected widening of the gap of the corporate tax between listed and non-listed companies to encourage more companies to come into the capital market to raise capital," he noted.