The parliament today passed the Tk 7,97,000 crore national budget for the 2024-25 fiscal year with the aim of achieving 6.75 percent GDP growth rate and keeping annual inflation at around six percent
Chattogram City Corporation (CCC) today proposed a budget of Tk 1981.52 crore for fiscal 2024-25
Two ruling Awami League MPs and a Jatiya Party MP today in parliament criticised the government for keeping the provision of whitening the black money in the proposed budget for 2024-25 fiscal
Also wants no tax on imported cars for new MPs
The parliament today passed the supplementary budget of Tk 30,643.51 crore for the fiscal 2023-24 to meet the increased expenditures under different ministries and divisions for the outgoing fiscal year ending June 30
Allocation of resources to the health sector and proper utilisation of that allocation are crucial for achieving universal health coverage (UHC)
The government has not addressed the stability issue through its fiscal policy for two years in a row although the economy is in turmoil owing to both external and internal pressures. A noted economist, however, thinks it can bring the situation under better control through the budget in the next fiscal year beginning on July 1.
Fighting raging inflation and putting the economy back on track have not been taken seriously as evidenced from the government’s delayed response, which set the scene for one of the worst economic crises in its history and an unprecedented prolonged period of higher consumer prices, said an economist.
The government is not moving at full throttle in bringing discipline to the banking sector, implementing reforms wholeheartedly, taking measures against syndication, and bringing money launderers under the rule of law, said a top economist.
The government is expanding the size of the national budget every year. However, it has fallen short of attaining its targets over the years, be that in terms of revenue collection or development expenditure.
In FY22, the spending on public services increased to 15 percent of the total actual expenditure, nearly double the rate in FY09. Similarly, spending on the transport and communication sector surged to 12 percent from 4.7 percent in FY09.
The government is thinking about allowing again undisclosed money to be legalised and laundered money to be brought back home through formal channels in the next budget.
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.
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.
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.
