The failure to tame inflation not only imposes a steep tax on the poor and the middle class, it also erodes economic competitiveness.
The members of parliament are not adequately involved in formulating the national budget even though they are an integral part of the parliament, Jatiya Party Co-chairman Anisul Islam Mahmud said yesterday.
On paper, Tk 126,272 crore, the amount earmarked for social safety net programmes, looks to be a hefty sum. But the sum flatters to deceive: as much as 60 percent would be going towards those not in dire need.
There is not much in it to make us feel better in terms of its focus and measures.
Finance Minister AHM Mustafa Kamal today in his budget speech hoped that the ongoing stress in the foreign exchange reserves would improve in a short period of time.
The allocation for the health sector in the proposed budget for the 2023-24 fiscal year has been reduced to approximately 5 percent of the national budget from 5.4 percent in the outgoing fiscal year
The National Board of Revenue (NBR) has proposed withdrawing supplementary duty (SD) on 234 imported goods and regulatory duty (RD) on 191 imported goods in fiscal year 2023-24 to aid Bangladesh’s graduation from a least developed country (LDC) to a developing one by 2026.
In his budget speech for FY2023-24 at the national parliament today, Kamal said inflation would be largely controlled from here on.
The finance minister presented the new budget for the fiscal year 2023-2024 in the parliament on Thursday.
Three issues would be dictating the upcoming fiscal year’s budget, the last of the Awami League government’s present five-year term: the International Monetary Fund’s conditions, the persistently high inflation and next year’s national election.
Bangladesh Bank has missed the train by caving in to the pressure of the finance ministry, which dictates policymaking at the central bank being driven by short-term political interests.
