Bangladesh National Budget 2023-24
Five concerns that the FY2024 budget fails to address
In light of the economic hardships Bangladesh has been going through, there were certain expectations from the national budget of 2023-24 fiscal year.
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.
National Budget 2023-24 / Education lags again in funding and action
The new budget has not displayed cognisance of the need for post-pandemic recovery and remedial actions.
Proposed budget is grossly inadequate
Govt should make major changes before finalising it.
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.
1.49 crore Bangladeshi expats work in 176 countries
Finance Minister AHM Mustafa Kamal in his budget speech revealed that more than 1.49 crore Bangladeshi workers are working in 176 countries across the world
Tk 100 crore to be allocated for skill development of youth and women
The finance minister presented the new budget for the fiscal year 2023-2024 in the parliament on Thursday.
Government plans to fully digitise information and services
The government is planning on digitising 80% of information and processes on government services by 2023 and 100% by 2025, as per Finance Minister AHM Mustafa Kamal in his latest proposal of the National Budget 2023-24.
Imported software likely to get costlier
The prices of imported software are set to increase after Finance Minister AHM Mustafa Kamal proposed to increase the import duty from 5% to 25% on imported software in the proposed budget for the next fiscal year 2023-24.
Universal pension scheme to be rolled out in FY24
The government plans to roll out the universal pension scheme in the coming fiscal year.
Phones, sweets, cigarettes, microwaves: What’s cheaper, what’s costlier
While placing the proposed national budget for the 2023-24 fiscal year today, Finance Minister AHM Mustafa Kamal has proposed changes to duties on different products, which will result in increase and decrease in their prices
Tax subsidy costs the nation Tk 1.78 lakh crore in FY23
The total amount of tax subsidies given in the form of rebates, discounts, exemptions and reduced rates will be Tk 1,78,241 crore in the current financial year.
Electronic transfer of all social scheme funds on cards
The government will bring the payments of all cash-based social safety net programmes under the electronic fund transfer system from the coming fiscal year.
Govt raises allocation for ICT Division by 23%
The allocation for the ICT Division may increase by Tk 452 crore to Tk 2,368 crore in the proposed budget for 2023-24 fiscal year.
Social safety net allocation to rise 11%
Finance Minister AHM Mustafa Kamal today proposed increasing the social safety net programme allocation by 11 per cent year-on-year for fiscal year 2023-24.
Tk 2,000 minimum income tax imposed
Individuals who are required to submit income tax returns to avail of various government services will have to pay a minimum tax of Tk 2,000 even if they do not have taxable incomes.
Allocation to science and technology ministry declines by 22%
The budgetary allocation to the Ministry of Science and Technology may decline by Tk 3,007 crore or 22 per cent to Tk 13,607 crore in the proposed budget for 2023-24 fiscal year.