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.
Tk 761,785 crore budget unveiled
The proposed budget will be 15.2 per cent of the Gross Domestic Product (GDP), according to the budget speech of the finance minister.
Foreign debt servicing likely to soar by 45pc
The government’s foreign debt servicing burden may rise by as much as 45 percent in the next fiscal year due to the devaluation of taka and higher utilisation of foreign loans in recent years.
Bracing for budget of self-preservation
In 2019, when AHM Mustafa Kamal took charge as the finance minister, the Bangladesh economy was taxing for take-off for its long-haul flight to the developed country club.
‘High corporate tax for banks, insurers, telcos illogical’
High corporate taxes on banks, non-bank financial institutions, merchant banks, insurance companies and telecommunication companies are not logical as their profit is not high compared to capital, said Shahidul Islam, chief executive officer of VIPB Asset Management Company.
Voices of poor remain unheard in policymaking
The voices of disadvantaged groups, the poor and small entrepreneurs have remained unheard when it comes to policy-making as fiscal policies have been captured by vested sections of society, alleged Towfiqul Islam Khan, a senior research fellow of the Centre for Policy Dialogue.
Budget stuck in vicious cycle of non-implementation
The government is likely to fail to implement its national budget fully in the ongoing fiscal year owing to policymakers’ over-optimism and a lack of capacity of public agencies.
What to look for in the FY 23-24 Budget
Amidst the steep rise in commodity prices, and a sky-high aspiration of sustaining GDP growth, what are the major challenges of creating an effective budget for Bangladesh this year? What should we look for from the FY 23-24 budget?
Are tax policies addressing inequality?
Bangladesh’s economy has been growing at an average 6 per cent annually for the last two decades. Yet the country has witnessed a spike in income and consumption inequality.
No direct subsidy given to fuel oil: energy minister
State Minister for Power, Energy and Mineral Resources Nasrul Hamid told parliament today that the government does not directly give any subsidy to fuel oil..In reply to a query from AL MP Haji Selim, the state minister said BPC incurred a loss of about Tk 2,705 crore in 2021-22 fiscal, fo
Budget set to pass on June 26
The budget for the 2023-24 fiscal will be passed in parliament on June 26 while the Finance Bill will be passed on June 25