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.

The Asian Development Bank has approved a $250 million policy-based loan to support Bangladesh’s social protection reforms as well as to protect vulnerable population against socioeconomic challenges. 

According to the budget for the fiscal year 2022-23, it has been proposed that Tk 1,917 crore will be allocated for the ICT Division.

Finance Minister AHM Mustafa Kamal unveiled a proposed budget of Tk 678,064 crore for 2022-23 fiscal year in the national parliament today.

Finance Minister AHM Mustafa Kamal has reached the National Parliament to present the National Budget for the financial year 2022-23 today.

The government should take adequate measures to make it easier for businesses to operate, said a noted entrepreneur.

The Bangladesh Trade and Tariff Commission (BTTC) yesterday suggested the commerce ministry review the price of edible oil in local markets as the product’s price is declining globally.

The budget should focus on time-befitting strategies in order to cut the cost of doing business and raise trade and investment competitiveness, said Rizwan Rahman, president of the Dhaka Chamber of Commerce and Industry (DCCI).

The budget for the next fiscal year should be framed by taking into account the new challenges facing the economy and the cost of living crisis confronting people, said a noted economist.

The government must ensure a prudent macroeconomic management and coordination between fiscal and monetary policies to help Bangladesh ride out the current crisis, said Monzur Hossain, research director of the Bangladesh Institute of Development Studies.