Finance Adviser Salehuddin Ahmed yesterday said the interim government will not incorporate any mega projects that cost billions of dollars in the next budget for FY2025-26.
Besides, the Cabinet approved in principle the draft of the Institute of Frontier Technology Act, 2014, to establish the institute in Madaripur's Shibchar
Prime Minister Sheikh Hasina today said the proposed national budget for the 2024-25 fiscal year was not "ambitious", vowing to take Bangladesh forward
The proposed budget for fiscal year 2024-25 offered no relief to startups and neglected their long-standing demands, in sharp contrast with the government’s vision for a Smart Bangladesh, where startups are key economic drivers.
The budget session of this year will begin from June 5. The House will go into sitting at 5:00pm, said a press release of the Parliament Secretariat. This will be the third session of 12th parliament. President Mohammed Shahabuddin convened the budget session today exercising the power bestowed upon him as per clause (1) of article 72 of the constitution.
The Centre for Policy Dialogue (CPD) has recommended the government restore macroeconomic stability, widen fiscal space and ensure the best use of public resources through appropriate prioritisation in the upcoming budget for 2024-25
The upcoming national budget for fiscal year 2024-25 should focus on macroeconomic stability, reducing default loans and expenditure in mega projects, according to economists
The tax-free income limit for individuals has been kept unchanged at Tk 300,000 for the next fiscal year. The threshold for women, senior citizens, individuals belonging to the third gender, physically challenged persons and wounded freedom fighters also did not see any change.
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.
The new budget provides nothing for the uncle next-door who has spent his life pinching pennies in a rented flat, nothing for the millennial slogging away 60 hours a week and still wondering how to pay for their second child’s school fees, nothing for the mother hesitating to buy beef for a special day.
The government plans to extend VAT exemption and offer tax holiday to all export-oriented goods and services in order to create new export sectors, diversify goods and explore new markets.
The proposed budget has not properly addressed the pressing issues – higher inflation and the US dollar crisis -- that are causing immense macroeconomic imbalances, said economists in their immediate reaction.
The budget proposed in parliament yesterday is geared toward attracting private sector investment to create employment and expand businesses, but some proposals need to be reconsidered, said economists and businesspeople.
The proposed budget placed in parliament yesterday is geared towards attracting private sector investment to create employment and to expand business, but some proposals need to be reconsidered, said economists and businesspeople.
The proposed budget did not offer any new way out for the recovery of learning loss of millions of students caused by the Covid-19 pandemic through school closures.
Money laundered out of the country can be legalised in exchange of seven to fifteen percent tax under a new proposal aimed to boost revenue as well as mobilise foreign currency.
