Economists today expressed deep concerns over the current situation in the banking sector of Bangladesh and warned that the recovery from the current economic crisis would not be possible without addressing the sector’s vulnerability.

The government has proposed removing and reducing import duties and supplementary duties on 282 products in fiscal year 2024-25 as it continues its efforts to prepare the nation for its graduation out of the Least Developed Country grouping.

Proposed budget offers no hope or way out for them

In Bangladesh, the power generation capacity increased to 30,277 megawatts in 2023-24 from 4,942 MW in 2009, said Finance Minister Abul Hassan Mahmood Ali in his budget speech.

Textile millers and garment makers in Bangladesh yesterday demanded that the government include some of their recommendations in the new national budget as many of the issues they raised remain unaddressed.

More than a third of the subsidies allocated in the new budget is for the power sector due to what experts say is the huge spending on capacity charges.

What is a progressive tax system? Well, it means that the income tax rate climbs up as the income increases. But that still doesn't mean that the raised income tax rate will apply for the entirety of someone's income

It fails to commit to reforms and address people’s sufferings

Finance Minister Abul Hassan Mahmood Ali yesterday expressed hope that the government would be able to curb high inflation on the back of budgetary measures and the central bank’s steps.

The proposed national budget for fiscal 2024-25 lacks concrete measures for addressing the current economic concerns, such as runaway inflation and depleting foreign exchange reserves, the Centre for Policy Dialogue (CPD) said yesterday.

Tax exemptions provided by the National Board of Revenue (NBR) are estimated to rise to Tk 163,000 crore in fiscal 2024-25 as the tax administration looks to ease the pressure on individuals and facilitate higher economic growth.

Implementation of the new budget will be highly challenging in the current context of the Bangladesh economy, Metropolitan Chamber of Commerce and Industry (MCCI) said in a post-budget reaction yesterday.

Economists say allocation for the agriculture sector in the new budget is inadequate, and it will not only hurt farmers but may also affect food production.

Prime Minister Sheikh Hasina today supported the budgetary provision for legalising black money saying that it should be brought to the legal network first

Budget day is turning into our very own Groundhog Day.

The FY 2024-25 budget falls short of assessing the depth of the economically challenging time.

The proposed budget for 2024-25 lacks creativity and offers no solutions to the many complex challenges facing the country’s economy, economists have said.

Backtracking on its promise to eliminate black money, the government has once again made room to allow both individuals and companies to whiten money without facing scrutiny and by paying a 15 percent tax, a move that drew sharp criticism from economists and civil society.

In its first proposed budget after assuming power for a fourth consecutive term, the Awami League government skirted round some of the promises the party made in its election manifesto for the January 7 parliamentary polls.

Budget at a glance