The Dhaka Chamber of Commerce and Industry on Monday said that the proposed budget for the next fiscal year contained serious risks in financing and implementation. Although there are many positive elements in the proposed budget, there are also risks in achieving targeted GDP growth, revenue earnings, deficit financing,
proposed budget
FBCCI welcomes ‘business-friendly’ budget
The FBCCI, the country’s apex trade body, has lauded the proposed budget as realistic and implementable, adding the caveat that the implementation of the budget would hinge on political stability, good governance, and rule of law. The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), however, pointed out that too much reliance on bank ... Read more
Proposed budget FY 2013-2014 $30.9b export target uncertain: experts
Economists and exporters have expressed their doubt about achieving 15-per cent export growth target to $30.9 billion estimated in the proposed national budget for the financial year 2013-14 that was placed before the parliament on Thursday. Although the economy of Bangladesh is able to
7.2pc GDP target ambitious, say chambers
Different chamber bodies in separate statements have said the target of 7.2 per cent GDP growth for the next financial year is ambitious and judging on previous experience it looks unlikely to be achieved. The success of this huge budget will depend on
Budget failed to address institutional investors: CSE
The Chittagong Stock Exchange on Saturday said the proposed budget for the financial year 2013-14 offered some incentives for the retail investors but failed to address the need of the institutional ones. ‘On the whole the budget is as usual but it could
Muhith terms budget ambitious but realistic
In response to the criticism that the proposed budget for the next fiscal is unrealistic and not implementable, finance minister AMA Muhith on Friday said that though ambitious, the budget is realistic and implementable. He, however, admitted that political uncertainty
CPD dubs budget ‘a surrealistic one’
The Centre for Policy Dialogue (CPD) on Friday expressed its scepticism about implementation of the budget, given the unrealistic growth and revenue targets against the backdrop of sluggish revenue performance. Terming the proposed budget “a surrealistic one”, the civil society think-tank said there was no realistic match between expenditure and revenue
Moudud calls budget a ‘large and colourful balloon’
BNP standing committee member Moudud Ahmed has said that the budget proposals are likely to cause a hike in the rate of inflation and prices of daily essentials, coupled with dwindling investments. The interests of the common man have been ignored and a large amount of money has been wasted , he added. Moudud was ... Read more
IOJ terms next budget ‘ambitious, unrealistic’
Terming the proposed budget for fiscal 2013-14 as highly ambitious, unrealistic and pro-election, Islami Oikya Jote chairman Abdul Latif Nezami said it has given emphasis on party politics and next parliamentary polls, which make people frustrated. In his reaction on Friday, he said despite the failure in increasing revenue collection in the current fiscal (2012-1)
Prices of land, apartment to rise further: economists
Economists on Friday said the prices of land and apartment which were already high would rise further in the coming days as the government in its proposed budget gave unabated opportunity of legalising undisclosed money by investing in the real estate sector. According to the proposed budget for the fiscal
Muhith budget tows populist line in poll year
Finance Minister AMA Muhith, on Thursday, unveiled a Tk. 222,491 crore populist budget for the 2013-14 fiscal year, in Jatiya Sangsad, by avoiding imposition of any significant tax burden and by expanding social safety net programmes. The budget, having a deficit of 4.6 per cent, eyes 7.2 per cent GDP growth for the next fiscal ... Read more
Budget in the eyes of leading economists
Prominent economist Mirza Azizul Islam has described the prevailing political uncertainty in Bangladesh as the main hurdle in achieving the goals prescribed in the budget proposals placed before Parliament on Thursday. “If the present political uncertainty is not resolved, most of the goals prescribed in the budget proposals are not likely to be achieved. We ... Read more
FBCCI calls budget ‘growth-oriented’
Terming the proposed budget for the fiscal year 2013-14 as growth-oriented, investment and business-friendly, Bangladesh’s apex trade body, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), said that the implementation of the budget would largely depend on the country’s political stability. Finance minister AMA Muhith presented the
People’s aspirations, hopes not reflected in budget: BNP
Opposition Bangladesh Nationalist Party has said the hopes and aspirations of the people have not been reflected in the proposed budget for fiscal 2013-14. Giving an instant reaction to reporters at the media centre at Parliament soon after the placement of the national budget for fiscal 2013-14, BNP leader MK Anwar said the prices of ... Read more
Pay more for smoking: Bidi tax up, cigarette costlier
After four years, the government has decided to increase tax on biri. Cigarette price has also been increased in the current budget. Rate of supplementary duty (excise tax) on biri has been increased from 20% to 30%. Moreover, the ‘tariff value’ (used as the base price for taxation) has been hiked from Tk. 3.16 to ... Read more
Budget portrays a rosy picture of economy
The hopes and aspirations as reflected in the budget of the upcoming year must be assessed in the light of the prevailing hard economic and political realities of Bangladesh. The global economic environment is also pertinent in this context. Like any other annual budget of the country, the proposed one also portrays a rosy picture ... Read more