Bangladesh Budget 2023-24
Flats, houses to be costlier
Flats and houses will become expensive as the government has increased the duties on basic construction materials such as cement, steel and tiles in the proposed budget, said a top executive of a real estate company.
Tax return for credit card to bar financial inclusion
The tax on digital payments tools should be reduced and incentives should be given to encourage electronic payments in a bid to transform the country into a cashless society, said Syed Mohammad Kamal, country manager of Mastercard.
'Cut ADP allocation to contain inflation'
The government should adjust the budget expenses by cutting the allocation under the Annual Development Programme (ADP) and bringing down operating costs in order to contain inflation, said Ahsan H Mansur, executive director of the Policy Research Institute.
National Budget 2023-24: Of sweet accounting and sour economics
If we choose only 10 commodities and measure inflation, the figure will land at no less than 20 percent.
Benefit extension for consumer electronics ‘encouraging’
The extension of existing benefits for local consumer electronics industries through the proposed national budget is very encouraging, said Golam Murshed, managing director and chief executive officer of Walton Hi-Tech Industries, yesterday.
Focus on developing waterways in budget
The government’s budget should focus on developing inland waterways with a view to cutting goods transportation costs and reducing pressure on roadways, said the top executive of a logistics and container terminal operations management company.
Bangladesh’s budget deficit in FY24 could be at risk: Fitch Ratings
Bangladesh’s budget deficit forecasted by the government for the next fiscal year could be at risk if the growth undershoots the authorities’ relatively optimistic target, said Fitch Ratings.
Contain inflation, be business-friendly
The upcoming budget should target containing inflationary pressure to provide much-needed relief to consumers and be business-friendly to help the business community overcome the crisis stemming from the Russia-Ukraine war, said a number of businessmen and economists yesterday.
How did hundred crore taka budget go past lakh crore?
What is the national budget? What is the history of the budget? Since when did the government start using the budget as a tool to manage the income and expenditure of a country and provide funds for development expenditures? And how did Bangladesh's budget increase to this existing volume?
How is national budget made?
The Bangladesh government presents the national budget every June. The national budget for the fiscal year 2023-24 will be announced soon.
No way but to unveil a restrained budget
Despite being the last budget before the next general election, the government has little scope to unveil a big spending plan for the next fiscal year owing to limited fiscal space driven by lower-than-expected revenue collection, a noted economist said.
Air travel tax may surge
For the first time, domestic air travellers are likely to face a travel tax while people going abroad on airplanes are expected to pay up to 67 per cent higher taxes from next fiscal year as the government looks to increase revenue collection.
Utilising Funds: Health ministry fares worst, yet again
The health ministry continues to struggle with utilisation of funds allocated in the national budget, like it did in the past few years.
Budget Subsidies: Big chunks go to power, fertiliser
The allocation for subsidies in agriculture, food, and power will be raised considerably in the next budget, with an aim to ease inflationary pressure on people.
‘Tax on turnover even after loss is contradictory’
The income tax provision that requires companies to pay 0.6 per cent tax on their gross receipt even after losses is contradictory to the spirit of income tax law, said Mostafa Kamal, chairman and managing director of Meghna Group of Industries (MGI).
Mobile makers in battle for survival
"Mobile sales have dropped drastically due to the economic downturn for people. Handset sales dropped by over 40 per cent year-on-year in the first quarter of 2023"
Sustaining dev, curbing inequality major challenges
Sustaining the development that has taken place in Bangladesh in the past 14 years and curbing inequality are key major challenges facing the economy owing to the fallout of the coronavirus pandemic and the Russia-Ukraine war, said Planning Minister MA Mannan.