Bangladesh National Budget FY2024-25
Tk 7,97,000 crore budget passed in parliament
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
Budget ambitious, but achievable: Ficci
But extra duty and tax on telecom, carbonated beverages, water purifiers to hurt potential FDI, it said.
Power Grid gets large sums as govt prioritises transmission, distribution
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, garment makers urge govt to reconsider their demands
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.
Power gets a third of Tk 108,240cr subsidies
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.
Who will actually have to pay 30 percent income tax?
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
An uninspiring budget proposal
It fails to commit to reforms and address people’s sufferings
Cut in agri subsidy will hurt farmers
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.
Implementing Budget For 2024-25: It’ll be challenging
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.
Mango bar, fruit juice to see a price hike
The government wants to raise VAT on the two items to 15% from existing 5%
Education allocation raised by 7.42pc
The government has proposed a raise in allocation in the education sector by 7.42 percent to Tk 94,710 crore in the budget for the next fiscal year compared to the allocation in the outgoing fiscal year
Mobile phone raw material import concessions extended to 2026
The current notification on concessionary import facilities for mobile phone manufacturing raw materials has been extended to 30 June 2026 from its original validity till 30 June 2024.
National Budget FY25: Three-year tax exemption for cashless tech jobs
The Finance Minister has put forward a proposition to exempt from tax the incoming arising from several tech-related business activities, on the condition that the business holder is a resident or a non-resident Bangladeshi. Furthermore, the tax exemption will last three years and only on the condition that all business activities of such a person are cashless.
Price of imported electricity meters to rise
The import duty has been increased from 15% to 25%
What gets cheaper, what gets costlier
In this year's budget, depending on the facilities given and withdrawn, prices of products may increase and decrease
Finance minister's full speech of budget fiscal 2024-25
Finance Minister Abul Hassan Mahmood Ali placed Tk 7,97,000 crore national budget for 2024-25 in parliament.
Govt plans to impose capital gains tax on stock investors
They will face 15% tax if income crosses Tk 50 lakh
Surcharge structure unchanged
Currently, the rate of surcharge payable up to the net asset value of Tk 4 crore is nil
VAT on amusement parks may increase
Tour operator services, which include hotels and resorts as well as tour guides, may also no longer enjoy a 15 percent VAT exemption.