The government yesterday rolled back most of the austerity measures it imposed at the beginning of the fiscal year to better weather the economic upheaval although statistics indicate there has hardly been any improvement on the front.
Tax collection growth slowed drastically in the first half of the current fiscal year due to falling customs tariff and direct taxes amid declining imports and reduced profits of firms, limiting the government’s scope to spend on development activities.
The health sector was yet again neglected in the national budget, with Finance Minister AHM Mustafa Kamal earmarking around Tk 36,864 crore -- 5.43 percent of the total budget -- for the sector.
The government is going to increase the subsidy by big margin for fertilisers in the next fiscal year (2022-23) due to the sharp rise in its price in the global markets.
The government has no plans to inject capital into state-run banks as it has already taken several initiatives to put an end to this culture, Finance Minister AHM Mustafa Kamal said today.
The bank accounts with balance over Tk 5 crore may have to pay more excise duty from the next fiscal year.
The Bangladesh government has set a target of 7.5 per cent growth of the country’s gross domestic product (GDP) in the upcoming fiscal year of 2022-23 beginning from July.
The overall budget deficit for the fiscal year 2022-23 will be Tk 245,064 crore, or 5.5 percent of GDP, said Finance Minister AHM Mustafa Kamal in his budget speech today.
The Cabinet at a special meeting today approved the proposed national budget for the fiscal year 2022-23.
The government yesterday rolled back most of the austerity measures it imposed at the beginning of the fiscal year to better weather the economic upheaval although statistics indicate there has hardly been any improvement on the front.
Tax collection growth slowed drastically in the first half of the current fiscal year due to falling customs tariff and direct taxes amid declining imports and reduced profits of firms, limiting the government’s scope to spend on development activities.
The health sector was yet again neglected in the national budget, with Finance Minister AHM Mustafa Kamal earmarking around Tk 36,864 crore -- 5.43 percent of the total budget -- for the sector.
The government is going to increase the subsidy by big margin for fertilisers in the next fiscal year (2022-23) due to the sharp rise in its price in the global markets.
The government has no plans to inject capital into state-run banks as it has already taken several initiatives to put an end to this culture, Finance Minister AHM Mustafa Kamal said today.
The bank accounts with balance over Tk 5 crore may have to pay more excise duty from the next fiscal year.
The Bangladesh government has set a target of 7.5 per cent growth of the country’s gross domestic product (GDP) in the upcoming fiscal year of 2022-23 beginning from July.
The overall budget deficit for the fiscal year 2022-23 will be Tk 245,064 crore, or 5.5 percent of GDP, said Finance Minister AHM Mustafa Kamal in his budget speech today.
The Cabinet at a special meeting today approved the proposed national budget for the fiscal year 2022-23.
Bank accounts with upwards of Tk 1 crore in balance are set to face a higher excise duty next fiscal year as the government looks to collect more taxes from the relatively well-off to get close to the lofty revenue collection target.
