The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has welcomed the proposed national budget for the upcoming fiscal year, saying some of the steps will help entrepreneurs.

The proposed reduction of the fine on businesses failing to pay value added tax (VAT) in the national budget for fiscal year 2022-23 will reduce operational costs, said The Institute of Chartered Accountants of Bangladesh (ICAB) yesterday. 

Achieving the huge proposed budget for fiscal year 2022-23 in the post-pandemic period is a huge challenge for the government but it is not impossible, said Md Mamunur Rashid, president of the Institute of Cost and Management Accountants of Bangladesh (ICMAB).

The former Bangladesh Bank governor also stressed the need for cutting unnecessary spending and allocating more for social safety, education and health.

The government has made a timely proposal to impose 12 per cent tax on general industries and 10 per cent on green industries, the Institute of Chartered Accountants of Bangladesh (ICAB) said today.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) does not support the chance of whitening black money as it would discourage honest businessmen.

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.

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.

The need for expanding the coverage of social protection schemes with new approaches has never been felt so badly than now as people are struggling to keep their heads above water amid one crisis on top of another.

The government is planning to invest $80 billion to shift the country from climate-vulnerable to a sustainable climate-resilient country under Mujib Climate Prosperity Plan (MCPP) by 2030, Finance Minister AHM Mustafa Kamal said yesterday while unveiling the national budget for the fiscal year 2022-2023.

A universal pension scheme for citizens aged 61 and above will be introduced from fiscal 2022-23, said Finance Minister AHM Mustafa Kamal yesterday.

With prices of mobile phones and broadband internet set to go up in the next fiscal year, the proposed budget would not be favourable to further development of the ICT sector, experts have said.

Withdrawal of the existing 5 percent advance tax on gold import has been proposed in the budget for fiscal 2022-23 to encourage import of the precious metal through formal channel and discourage its smuggling.

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.