Finance Minister AHM Mustafa Kamal today proposed increasing the tax-free income limit to Tk 3.5 lakh from the existing Tk 3 lakh for individual taxpayers for 2023-24 fiscal year.

The government should raise the tax-free income limit in the upcoming fiscal year to give some relief to people as they have hit hard by rising inflationary pressures, said speakers at an event today.

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.