Budget 2024-2025

Govt may trim budget by Tk 100,000cr

The interim government is planning to revise the national budget for the current fiscal year urgently and cut “wasteful expenditures” in order to alleviate the pressure on the foreign currency reserves and tame persistent inflation.

No relief for consumers as inflation hits 12-year high

Lack of proper government actions is costing citizens dearly

Amnesty for black money holders is a disgrace

It will not reduce capital flight, only encourage malfeasance

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

Highest income tax rate stays unchanged at 25%

The government has moved away from its decision to raise the highest income tax rate to 30 percent and end tax holidays for investors in economic zones and hi-tech parks.

What the budget means for Bangladesh’s trade policy direction

It is important to recognise that trade has been the handmaiden of Bangladesh’s development.

Part: 4 BUDGET IN FOCUS / Budget Infocus: Direct spending on poverty reduction shrinks

The share of the total allocation for spending directly on poverty reduction has come down for the upcoming fiscal year despite persistently higher inflation, deepening the uncertainties of the poor.

Amnesty to black money may continue despite criticism

Despite widespread condemnation from economists, watchdogs, businesspeople and even multiple lawmakers, the government is expected to retain the amnesty allowing individuals and businesses to whiten black money without scrutiny by paying a 15 percent tax in the upcoming fiscal year.

Part: 3 BUDGET IN FOCUS / Startups neglected in proposed budget

The proposed budget for fiscal year 2024-25 offered no relief to startups and neglected their long-standing demands, in sharp contrast with the government’s vision for a Smart Bangladesh, where startups are key economic drivers.

June 8, 2024
June 8, 2024

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.

June 8, 2024
June 8, 2024

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.

June 7, 2024
June 7, 2024

PM defends budgetary proposal for whitening black money

Prime Minister Sheikh Hasina today supported the budgetary provision for legalising black money saying that it should be brought to the legal network first

June 7, 2024
June 7, 2024

The only budget I care about is one that reduces my bills

Budget day is turning into our very own Groundhog Day.

June 7, 2024
June 7, 2024

What’s in the new budget?

The FY 2024-25 budget falls short of assessing the depth of the economically challenging time.

June 7, 2024
June 7, 2024

Whitening Black Money: ‘Unethical, unjust and unacceptable’

Backtracking on its promise to eliminate black money, the government has once again made room to allow both individuals and companies to whiten money without facing scrutiny and by paying a 15 percent tax, a move that drew sharp criticism from economists and civil society.

June 7, 2024
June 7, 2024

AL manifesto: Budget passes over some key promises

In its first proposed budget after assuming power for a fourth consecutive term, the Awami League government skirted round some of the promises the party made in its election manifesto for the January 7 parliamentary polls.

June 7, 2024
June 7, 2024

Budget at a glance

Budget at a glance

June 7, 2024
June 7, 2024

Social Safety Net: Share of the poor dwarfed by others

Under the FY24-25 social safety net programme of Bangladesh, the pension for retired government employees and savings scheme interest payments account for nearly the same allocation as social assistance for the poor, the old and the disaster-struck.

June 7, 2024
June 7, 2024

Bad loans hit historic high

Default loans in the banking sector of Bangladesh hit an all-time high of Tk 182,295 crore, but no reform programme to reduce it has been announced in the budget for the upcoming fiscal year.