Tag Archives: Budget

$1.0t dream budget before 2034: Kamal

budget

MNA Business Desk: Finance minister AHM Mustafa Kamal said on Thursday the size of the country’s annual budget would stand at $1.0 trillion even before 2034. “Such a $1.0-trillion budget is our dream and we’ll reach there…,” he said. Mr Kamal was speaking at the closing ceremony of a two-day ‘Good Project Implementation Forum’ hosted by the Manila-based Asian Development Bank (ADB). The programme was held at Bangabandhu International Conference Centre in the capital, Dhaka. Currently, the size of the fiscal budget is less than Tk 5.0 trillion or more than $59 billion. Mr Kamal said Bangladesh, in the meantime, ...

Read More »

BUDGET 2019-20: Great hopes & now all depends on the government

Road Transport Act 2018

MNA Editorial Desk: The government has placed an ambitious BDT5.23 trillion budget for the fiscal year 2019-20 in the parliament on June 13, 2019. The figure is an increase of an 18 per cent from the revised budget of the outgoing fiscal year. It was a budget presented by the new Finance Minister AHM Mustafa Kamal with commitments of dynamism and understandability. Unfortunately, due to illness, he could not present the whole budget and the Prime Minister Sheikh Hasina had to step in to present the complete budget in front of the people. The budget is not only an ambitious ...

Read More »

FBCCI welcomes scope for whitening black money

FBCCI

MNA Business Desk: The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has welcomed the black money whitening facility in the proposed budget national budget for the 2019-20 fiscal year. The apex trade body also described the budget as ‘public and business-friendly’. “We thank Prime Minister Sheikh Hasina and Finance Minister AHM Mustafa Kamal for announcing such a public and business-friendly budget,” FBCCI President Sheikh Fazle Fahim said at a budget reaction press conference in Dhaka on Saturday, reports UNB. Welcoming the black money whitening windows, he said, “We see positive things in the budget.” Replying a question, he ...

Read More »

Finance Minister presents Tk 5.23 trillion-plus budget for 2019-20

budget

MNA National Desk: Finance minister AHM Mustafa Kamal has placed a budget of over Tk 5.23 trillion (Tk 5,23,190 crore), which is 18.1 per cent of GDP, for fiscal year 2019-20 in parliament. He placed the budget, up by Tk 590 billion from the revised one of the outgoing fiscal, at 3:00pm on Thursday. Of the budget, Tk 3.78 trillion (Tk 3,77,810 crore) is expected to come from the National Revenue Board (NBR), non-NBR and non-tax revenue. The target for gross domestic product (GDP) growth has been set at 8.2 per cent, and the average inflation target at 5.5 per ...

Read More »

Finance Minister to unpack maiden budget today

budget

MNA Editorial Desk: The government releases the budget for fiscal year 2019-20 today (Thursday) setting higher growth target, despite a number of domestic challenges. People familiar with the budget preparation said there will be nothing new in the annual document as it is hardly bringing about any major reform. Finance minister AHM Mustafa Kamal is set to place the fiscal blueprint before Jatiya Sangsad with a record outlay of over Tk 5.23 trillion, up by Tk 590 billion from the original budget size of the outgoing fiscal. The budget, which will be the country’s 48th since independence, aims to give ...

Read More »

Chronology of national budget

budget

MNA Business Desk: Finance Minister AHM Mustafa Kamal is set to place the national budget for 2019-20 fiscal year at the Jatiya Sangsad on Thursday. This will be the country’s 48th budget and the 20th of the Awami League government in five terms. Tajuddin Ahmed presented the first budget as the finance minister of the post-independence Bangabandhu government in 1972. According to BSS, the chronology of national budget is given below along with budget size with amounts in crore: Fiscal— Who placed—Total Size— ADP 1972-73—Tajuddin Ahmed —Tk 786 —Tk 501 1973-74 —Tajuddin Ahmed —Tk 995 —Tk 525 1974-75 —Tajuddin Ahmed ...

Read More »

First budget session of 11th parliament begins today

budget

MNA National Desk: The first budget session of the 11th parliament will begin this afternoon. Also the third session of the present parliament in general, it is scheduled for 5:00pm, according to the Parliament Secretariat. Prior to the start of the session, the business advisory committee of the parliament will sit in a meeting at 4:00pm with Speaker Shirin Sharmin Chaudhury in the chair, to fix the duration and businesses of the session. Finance Minister AHM Mustafa Kamal will place the proposed national budget in the House on Thursday, which will be the first for him heading the current ministry. ...

Read More »

Budget 2019-20: Prospect of dual focus on infrastructure and human indices

Road Transport Act 2018

MNA Editorial Desk:Today the National Parliament will go into the budget session for 2019-20 fiscal. This will be the third session of the incumbent 11th parliament after the second. Finance Minister AHM Mustafa Kamal will place the national budget, his first, for fiscal year 2019-20 before the House on June 13 while the whole nation will be eyeing for a dynamic and progress oriented budget for the next one year. The current Awami League government under the leadership of Prime Minister Sheikh Hasina had presented and managed the last ten consecutive budgets which were mostly highly ambitious and development oriented ...

Read More »

Budget 2019-20: Anticipation of mass-orientation & new dimensions

Road Transport Act 2018

MNA Editorial Desk: We are standing at the verge of another budget declaration–budget for the fiscal year 2019-20. This year it is going to be slightly different as a new Finance Minister AHM Mustafa Kamal will present his first budget. People are having huge expectations on this budget as it is expected to be dynamic and goal-oriented. Former Finance Minister AMA Muhith, who has helmed the country’s budget preparation 12 times were criticized on several occasions for not tough and anti-people budget though he had been a great part of the many development initiatives of Prime Minister Sheikh Hasina during ...

Read More »

VAT: Prospect of integration with social security

budget

MNA Editorial Desk: The national budget of Bangladesh for the fiscal year 2018-19 was presented by the finance minister AMA Muhith just a few days ago. Still there are many discussions going on regarding the size of the budget and several changes or provisions of it. One of the most important targets to accumulate the earnings for the expenditures in the proposed budget is by collecting tax revenue from the citizens, a job National Board of Revenue (NBR) is doing with immense precision. It was said that, the government targets to have 10 million registered taxpayers by the fiscal year ...

Read More »

Budget 2018-19: Full implementation is the key to success

Bangladesh

MNA Editorial Desk: Bangladesh is moving towards a very eventful upcoming 12 months as the budget has been announced for the fiscal year 2018-19 on 7th June. This particular fiscal year is very important because it will create an impact on the outcomes of the 11th national elections and with the new government irrespective of Awami League, BNP, Jatiya Party or any other entity in power, the policies and philosophies of the proposed budget will face severe challenges while the budget itself is expected to create a lot of challenges. Finance Minister AMA Muhith unveiled a budget of Tk 4,645.73 ...

Read More »

Trump signs $1.3 trillion budget

charity

MNA Business Desk: President Donald Trump grudgingly signed a $1.3 trillion federal spending measure Friday and averted a midnight government shutdown – but only after undercutting his own negotiators and setting off a mini-panic with a last-minute veto threat. The episode further eroded the already damaged credibility of both the president and a White House staff that had assured the nation he was onboard. Trump said he was “very disappointed” in the package, in part because it did not fully pay for his planned border wall with Mexico and did not extend protection from deportation to some 700,000 “Dreamer” immigrants ...

Read More »

Government shifted position on budget focusing election

budget

MNA Editorial Desk: The government has shifted its position on budget specially VAT, excise duty hike as they are focusing on the upcoming general election in 2019. Finance Minister AMA Muhith backtracked from his decisions to impose 15 percent uniform VAT and raise excise duty on bank accounts of smaller balance to meet the huge expenditure of the next fiscal year after severe criticism. The businessmen kept protesting the new VAT law for a period of over one year. The opposition leaders as well as leaders from the government have raised voices following public concern after Muhith presented the proposed ...

Read More »

Rate of excise duty likely to be changed: Muhith

mega budget

MNA Business Desk: Finance minister Abul Maal Abdul Muhith on Wednesday said the decision whether the proposed excise duty on bank deposits will be withdrawn or reduced will be taken after discussion in parliament. “Jatiya Sangsad is now discussing the proposed duty and on the basis of the discussion, the rate of excise duty is likely to be changed,” he told journalists after a meeting of the Cabinet Committee on Government Purchase (CCGP) at the Cabinet Division in the capital. Muhith also said the duty on bank accounts is not a new thing as there was such duty before, reported ...

Read More »

Budget for next fiscal projected 4.20 lakh crore: Muhith

lakh crore

MNA Business Desk: AMA Muhith, Finance Minister, yesterday said the possible outlay of the budget for the coming 2017-2018 fiscal year could be as high as Taka 4.20 lakh crore. “We projected that the next budget outlay Taka 4 lakh crore but I want to take it Taka 4.20 lakh crore,” he told journalists after a pre-budget meeting with leading financial watchdogs at the State Guest House Padma here. Economists and representatives of Economic Research Group (ERG), Bangladesh Institute of Development Studies (BIDS), Policy Research Institute (PRI) and Bangladesh Economic Association (BEA) took part in the discussion. The think tanks ...

Read More »

Share Market Stakeholders get nothing in proposed budget

budget

MNA Business Desk: Apparently stakeholders at Share Market get nothing in the proposed budget for this year. Share market shareholders have voiced frustration at the offered budget, though the finance minister apprehends an exciting share market. They claimed that the budget for fiscal year 2016-17 had offered them ‘nothing’. Ahmad Rashid Lali, Senior Vice President of Dhaka Stock Exchange said they had not received the support they were imagining. He further added that the budget has not reproduced the necessities of the Dhaka and Chittagong Stock Exchanges and anyone can complain that this budget has no good for the capital ...

Read More »

Budget for 2016-17 fiscal year

budget

MNA Editorial Desk: AMA Muhith, Finance minister, is set to place the national budget for the next fiscal year, 2016-17 at parliament on Thursday afternoon with a likely outlay of Tk. 340,605 crore (3.4 trillion) aiming to create more jobs, wooing investment and speeding up the implementation of a clutch of ‘transformational’ mega-projects. Muhith will place his 8th successive budget as finance minister of the AL-led coalition that has been in power since 2009, and his own 10th overall, putting him in a tie with the late Saifur Rahman. Muhith is projected to start his demonstration using PowerPoint at 3pm. ...

Read More »
Scroll Up