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.
Kamal proposes formulating rules for tax return preparers
Finance Minister AHM Mustafa Kamal today proposed formulating rules for authorising tax return preparers (TRPs) in Bangladesh with a view to expanding the tax net by adding more individual taxpayers.
Corporate tax rates remain unchanged for all
The government wants to keep the corporate tax rates unchanged for all sectors for the fiscal year 2023-24, said Finance Minister AHM Mustafa Kamal today.
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.
Three questions for the new budget
Since the budget is a political process, the rules of the budgetary game are set within that continuum.
‘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.
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
‘Agri output up for higher budget outlay’
Bangladesh is enjoying a big rise in overall agricultural production as it had increased public expenditure on the sector in the outgoing fiscal year of 2022-23, said Ahsan Khan Chowdhury, chairman and chief executive officer of Pran-RFL Group.