Abdur Rouf Talukder, senior secretary of the finance division, has been appointed as the governor of Bangladesh Bank.

The top IT trade body Bangladesh Association of Software and Information Services (BASIS) today said the proposed budget did not reflect the industry’s demands for the development of the sector.

The budget for the next fiscal year will benefit both the poor and the business community alike of Bangladesh, said Finance Minister AHM Mustafa Kamal today.

The leading chambers and trade body leaders have praised the government for fixing the priority areas of development, but they also said controlling inflation will be biggest headache for the Sheikh Hasina administration in the next fiscal year.

The budget for the upcoming fiscal year has appeared to be insufficient in terms of needed measures, incomplete in terms of outlining strategies and inadequate in terms of addressing the present macroeconomic challenges, said the Centre for Policy Dialogue today.

The government has proposed an allocation of Tk 82,745 crore to run its subsidy programme for 2022-23, an increase of 53.7 percent from this fiscal year’s original outlay, creating a challenge to macroeconomic stability.

Let’s consider, for the ease of understanding, that the government has proposed an expenditure plan involving Tk 100. In this

Although Bangladesh is witnessing a golden hour in terms of demographic dividend, a lack of decent employment opportunities in the country is leading to rising unemployment among educated youths, according to experts.

The tax-free income limit for individuals has been kept unchanged at Tk 300,000 for the next fiscal year. The threshold for women, senior citizens, individuals belonging to the third gender, physically challenged persons and wounded freedom fighters also did not see any change.

Over the last couple of months, various sections of society called upon the government to raise the tax-free income limit amid the rising cost of living.

The new budget provides nothing for the uncle next-door who has spent his life pinching pennies in a rented flat, nothing for the millennial slogging away 60 hours a week and still wondering how to pay for their second child’s school fees, nothing for the mother hesitating to buy beef for a special day.

The government plans to extend VAT exemption and offer tax holiday to all export-oriented goods and services in order to create new export sectors, diversify goods and explore new markets.

The proposed budget has not properly addressed the pressing issues – higher inflation and the US dollar crisis -- that are causing immense macroeconomic imbalances, said economists in their immediate reaction.

When reassurance was needed, he exuded panic.

The budget proposed in parliament yesterday is geared toward attracting private sector investment to create employment and expand businesses, but some proposals need to be reconsidered, said economists and businesspeople.

The proposed budget placed in parliament yesterday is geared towards attracting private sector investment to create employment and to expand business, but some proposals need to be reconsidered, said economists and businesspeople.

The proposed budget did not offer any new way out for the recovery of learning loss of millions of students caused by the Covid-19 pandemic through school closures.

Money laundered out of the country can be legalised in exchange of seven to fifteen percent tax under a new proposal aimed to boost revenue as well as mobilise foreign currency. 

Amid the Russia-Ukraine war and global food price hike, Finance Minister AHM Mustafa Kamal placed emphasis on boosting food production to ensure food security in the country.

After the Awami League government came to power in 2009, it took up several gigantic development projects with a view to transforming the country’s communication and transport infrastructure.