Bangladesh National Budget 2019-20
Tk 5,23,190cr budget passed in JS
Parliament passes the Tk 5,23,190 crore national budget for 2019-20 fiscal themed as “Bangladesh on a Pathway to Prosperity: Time is Ours, Time for Bangladesh.”
NBR to lose Tk 400cr for pampering tobacco companies
The National Board of Revenue’s move to change the VAT and Supplementary Duty Act 2012 to offer input tax credit to cigarette
New VAT system to bring in Tk 11,000cr more
The National Board of Revenue expects to collect about Tk 11,000 crore more for imposition of VAT on various goods and services and increasing rates on many others, said its officials.
Textile millers seek exemption of 5% VAT on sale of local yarn
Textile millers demand an exemption of 5 per cent value added tax (VAT) on sale of local yarn to make the domestic yarn market more competitive.
Budget Discussion: Opposition slams govt over paddy price
Opposition lawmakers yesterday came down heavily on the government for its failure to ensure fair price of paddy and check money laundering, soaring loan defaults and black money.
New VAT law to hurt consumers: Analysts
The government’s move to implement the new VAT law without rebate facility for reduced rates will hurt consumers because of price spike of many goods and services, analysts say.
Budget anti-people: Gonoforum
Gonoforum rejects the proposed national budget for 2019-20 fiscal terming it as frustrating and anti-people.
Manage deficit financing from other sources rather than banking channel
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) urges the government to manage fund from other sources rather than banking channel to finance the deficit financing in 2019-20 fiscal.
The affluent to benefit more
The budgetary measures for fiscal 2019-20 will favour the beneficiaries of “economic misrule” and hurt the middle and lower mid-income groups, the Centre for Policy Dialogue said yesterday.
Make new VAT law business-friendly
Leading business associations yesterday urged the government to ensure easy, hassle-free and business-friendly implementation of the new VAT law.
New budget to increase inequality
Terming the proposed national budget “highly ambitious”, the BNP yesterday said the people of the country would not accept the budget as it would increase inequality.
The affluent to benefit more
The budgetary measures for fiscal 2019-20 will favour the beneficiaries of “economic misrule” and hurt the middle and lower mid-income groups, the Centre for Policy Dialogue said yesterday.
Online shopping getting costlier for VAT slap
Amid growing popularity, online shopping is getting costlier soon for the proposed value added tax (VAT) imposed on it in the budget for fiscal 2019-20.
Safety for 16 lakh more
In a push to widen the social safety net, the government decided to include all registered differently abled people, and more marginalised and vulnerable ones under its protection.
Deficit financing to be expensive
The government has resorted to deficit financing, largely through bank borrowing and sale of high-cost savings certificates, increasing the interest payment burden on its shoulders and fuelling inflation.
Gas subsidy to double
Finance Minister AHM Mustafa Kamal yesterday proposed doubling the subsidy for the gas sector to Tk 9,600 crore for 2019-20, from Tk 4,500 crore in the previous year.
Long on promises, short on specifics
All eyes were on fever-stricken Finance Minister AHM Mustafa Kamal as he stepped into parliament to unveil his maiden national budget yesterday.
A little for the jobless
More than a year ago, when Mohammad Zayed graduated from a university college in the capital, his family started expecting that he would soon take over the financial responsibility.
Growth-friendly, albeit unrealistic
The new budget is growth-friendly and has set ambitious goals but shied away from addressing the key challenges confronting the economy, said a number of economists in their immediate reactions.