The parliament today passed the Tk 7,97,000 crore national budget for the 2024-25 fiscal year with the aim of achieving 6.75 percent GDP growth rate and keeping annual inflation at around six percent
But extra duty and tax on telecom, carbonated beverages, water purifiers to hurt potential FDI, it said.
In Bangladesh, the power generation capacity increased to 30,277 megawatts in 2023-24 from 4,942 MW in 2009, said Finance Minister Abul Hassan Mahmood Ali in his budget speech.
Textile millers and garment makers in Bangladesh yesterday demanded that the government include some of their recommendations in the new national budget as many of the issues they raised remain unaddressed.
More than a third of the subsidies allocated in the new budget is for the power sector due to what experts say is the huge spending on capacity charges.
What is a progressive tax system? Well, it means that the income tax rate climbs up as the income increases. But that still doesn't mean that the raised income tax rate will apply for the entirety of someone's income
It fails to commit to reforms and address people’s sufferings
Economists say allocation for the agriculture sector in the new budget is inadequate, and it will not only hurt farmers but may also affect food production.
Implementation of the new budget will be highly challenging in the current context of the Bangladesh economy, Metropolitan Chamber of Commerce and Industry (MCCI) said in a post-budget reaction yesterday.
Implementation of the new budget will be highly challenging in the current context of the Bangladesh economy, Metropolitan Chamber of Commerce and Industry (MCCI) said in a post-budget reaction yesterday.
Economists say allocation for the agriculture sector in the new budget is inadequate, and it will not only hurt farmers but may also affect food production.
Prime Minister Sheikh Hasina today supported the budgetary provision for legalising black money saying that it should be brought to the legal network first
The Centre for Policy Dialogue (CPD) today said that the government's target to reduce inflation to 6.5 percent in the fiscal year 2024-25 appears overly ambitious
Budget day is turning into our very own Groundhog Day.
Budget FY25 What does it mean for you?
BNP Secretary General Mirza Fakhrul Islam Alamgir yesterday termed the proposed national budget “anti-Bangladesh”, saying it contains new schemes to facilitate the embezzlement of public money by the ruling party-backed looters.
Bangladesh’s per capita income will be $3,000 at the end of FY25 as the government expects economic growth to recover. Per capita GDP is projected at $2,780 at the end of FY24. It has been growing steadily over the last two decades. It was $700 in 2000 and about $300 in 1990.
The budget for the upcoming fiscal year, presented in the context of inordinately complex economic circumstances, reflects both the government’s restraint and limitations.
Finance ministers don’t possess crystal balls to captivate the audience with mystical allure. They don’t have magical foresight. They are real-world agents of economic policy. In times of crisis, which often repeats itself in modern capitalism, they chart a path out of the dark abyss. Sometimes they prove to be successful, sometimes not.
