bangladesh budget
Bangladesh must improve transparency and openness of its budget process
Given Bangladesh's performance in Open Budget Survey 2023, there is room for improvement in the country's budget process.
Chronology of Bangladesh's National Budget: From 1972-73 to 2023-24
Finance Minister Abul Hassan Mahmood Ali will place the national budget for the fiscal year (2024-2025) at the Jatiya Sangsad this afternoon
Govt sets $110 billion export earnings for FY27
The government has set a target to export goods and services worth $110 billion in the fiscal year of 2026-27, which is double the earnings recorded in the last financial year
Next budget to see marginal hike as austerity measures linger
This will be the first meeting of the council since the new government took office after the January 7 parliamentary elections. Thus, it is the maiden meeting for the new finance minister on the budget and the overall macroeconomic situation.
'Proposed budget unscientific, non-political, bureaucratic'
CPD Distinguished Fellow Debapriya Bhattacharya says
Budget lacks tools to contain inflation
The measures taken in the proposed budget for the next fiscal year have failed to address the most difficult challenge of containing inflation, and as a result, the suffering of common people will increase further, the Centre for Policy Dialogue (CPD) said yesterday.
High Inflation: Worrying but under control
Finance Minister AHM Mustafa Kamal yesterday said that though he is worried about the elevated level of consumer prices, the situation is still under the government’s control.
Budget has no reflection of people’s sufferings
An underwhelming budget at a time of overwhelming crisis
Remittances slide 10.27% in May
The reserves stood at $29.91 billion today in contrast to $42.20 billion during the same period a year ago.
Carbon tax imposed on owners of multiple vehicles
Owners of more than one car will face an environmental protection surcharge from 2023-24 as the government looks to discourage the use of vehicles in a bid to curb environmental pollution.
Air travel tax surges up to 67%
Domestic air travellers will face a travel tax for the first time from 2023-24, while people going abroad will pay up to 67 percent higher taxes.
Govt raises tax-free income limit to Tk 3.5 lakh
Finance Minister AHM Mustafa Kamal today proposed increasing the tax-free income limit to Tk 3.5 lakh from the existing Tk 3 lakh for individual taxpayers for 2023-24 fiscal year.
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.
Three questions for the new budget
Since the budget is a political process, the rules of the budgetary game are set within that continuum.
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.