Search results for: Economy

What's up, what's down-

FE REPORT 2020-06-12 11:36:05

The prices of imported onion, honey and industrial raw materials, tobacco items, disodium sulphate, lightning arrester, dredger, furniture and industrial salt may go up in the upcoming fiscal year. C...

Reaction: Businesses hail budget as inclusive

FE REPORT 2020-06-12 11:32:27

Business leaders have hailed the just-announced budget, saying it has addressed the impacts of Covid-19 and recovery measures from the crisis well. Some, however, were sceptical about its implementat...

Budget blends into 'white, black, grey'

FE REPORT 2020-06-12 11:17:49

Leading economists on Thursday expressed reactions to the new budget, saying some measures are unrealistic and ambitious, while others are good. They listed 8.2 per cent GDP growth, higher bank bor...

Tk 14.79b allocated for Youth & Sports

-- 2020-06-11 22:00:33

The government has allocated Tk 14.79 billion for the Ministry of Youth & Sports in the proposed national budget for the fiscal year 2020-21. The amount is Tk 223.7 million more than the revised...

Defence Ministry’s allocation remains high despite pandemic

-- 2020-06-11 21:00:55

An amount of Tk 348.42 billion has been proposed for the Defense Ministry and other services under the ministry in the national budget for 2020-21 fiscal year. Finance Minister AHM Mustafa Kamal made...

PPE, masks, gloves to be cheaper

-- 2020-06-11 21:00:18

Prices of health products and protective kits, such as masks, gloves and PPE, to fight COVID-19 are set to drop as the government is waiving VAT in the proposed budget for FY21, reports bdnews24.com....

Special measures taken to protect SMEs: Finance Minister

-- 2020-06-11 20:08:36

The government has taken up special measures for the protection of small and medium enterprises (SMEs) considering the importance, Finance Minister AHM Mustafa Kamal has said in his budget speech. Co...

Cut in disaster management allocation proposed

FE Online Report 2020-06-11 20:00:27

The allocation for the disaster management and relief has been rather cut although Bangladesh is badly affected by climate change as well as natural calamities.  The finance minister in his budg...

Agriculture second priority in budget: Kamal

-- 2020-06-11 20:00:24

Finance Minister AHM Mustafa Kamal has said the agriculture sector takes priority in Bangladesh’s budget as the country seeks to overcome the COVID-19 crisis, second only to health. The ministe...

Gold price may go down

-- 2020-06-11 18:47:14

The price of gold may decline as Finance Minister AHM Mustafa Kamal on Thursday proposed to withdraw the existing 15 per cent VAT on the import of gold bar. In his budget speech at the parliament, Mr...

FY21: Allocation for education sector increased

FE Online Report 2020-06-11 18:40:05

Finance Minister AHM Mustafa Kamal on Thursday increased the budget allocation for education sector to Tk 664 billion in the proposed budget for the fiscal year of 2020-21 (FY21). The finance ministe...

Budget curtailed for food, disaster ministries

FE Online Report 2020-06-11 18:23:56

The Parliament has proposed Tk 153.14 billion for the Ministry of Food and Ministry of Disaster Management and Relief, which is 2.7 per cent of the total budget outlay of Tk 5.68 trillion. The propos...

Emphasis on social safety net to minimise impact of COVID-19

FE Online Report 2020-06-11 18:22:20

In a bid to enable the poor absorb the shock of COVID-19 impact, the budget for next fiscal (FY21) proposed an allocation of Tk 955.74 billion for the social security sector, which is 16.83 per cent o...

Customs duty on onion import proposed

FE Online Report 2020-06-11 18:20:42

The government has proposed a small rate of customs duty on onion import to ensure fair market price for local farmers, encouraging onion cultivation and reducing dependency on imports. Finance Minis...

Govt proposes to double source tax to 0.5pc for export items

FE Online Report 2020-06-11 18:11:03

The government has proposed to double the source tax to 0.5 per cent from existing 0.25 per cent for all export oriented sectors including the readymade garment (RMG) industry for the upcoming fiscal...

Additional 1.0pc export incentive for RMG to continue

-- 2020-06-11 17:30:32

Finance Minister AHM Mustafa Kamal has proposed to continue with the additional export incentive of 1.0 per cent in the next fiscal year in addition to other existing incentives. Placing the proposed...

Govt provides opportunity to whiten black money

FE Online Report 2020-06-11 17:28:14

Finance Minister AHM Mustafa Kamal has proposed a money legalising opportunity showing undeclared cash, bank deposits, savings certificates, shares, bonds or any other securities without facing any qu...

Tk 645.80b allocated for developing communication infrastructure

FE Online Report 2020-06-11 17:09:09

The government has proposed to allot Tk 645.80 billion for the development of communication infrastructure in upcoming fiscal year 2020-21. According to sectoral allocation proposed in the budget for...

Tk 2,000 rebate for first time online tax return filers

FE Online Desk 2020-06-11 16:43:50

The proposed national budget for FY 2020-21 has kept a provision of giving a tax rebate of Tk two thousand to all the taxpayers who will file their income tax returns online for the first time. Finan...

Tax-free income limit raised

-- 2020-06-11 16:29:39

Finance Minister AHM Mustafa Kamal is planning to increase the threshold of tax-free income for individuals to Tk 300,000 in the national budget for fiscal 2020-21. The proposal outlined in the Tk 5....

Cabinet approves proposed national budget for FY '21

-- 2020-06-11 15:11:24

The Cabinet at a special meeting on Thursday approved the proposed national budget for the fiscal year 2020-21. Prime Minister Sheikh Hasina presided over the meeting held at the cabinet room of the...

Finmin places budget in parliament

FE ONLINE DESK 2020-06-11 14:59:21

Finance Minister AHM Mustafa Kamal has presented the upcoming 2020-21 fiscal year's proposed national budget with a record outlay of Tk 5.68 trillion (Tk 568,000 crore), which is 17.9 per cent of GDP,...

Federal Reserve keeps interest rates near zero

-- 2020-06-11 14:10:44

The US Federal Reserve has kept its benchmark interest rate unchanged at the record-low level of near zero amid mounting fallout from the COVID-19-induced recession. The Fed on Wednesday kept the pro...

Return submission may be mandatory for all TIN holders

FE REPORT 2020-06-11 09:57:16

The National Board of Revenue (NBR) is likely to make mandatory the submission of income tax returns for all taxpayers having taxpayers' identification numbers (TIN) with few exceptions from the upcom...

BB’s April, May interest waiver policy issued

FE REPORT 2020-06-11 09:47:41

The central bank issued a policy asking banks to waive certain portions of the interest accrued on the outstanding amount of loans during April and May this year, officials said. The entire amount of...

Take bold economic and health safety measures

FE Report 2020-06-11 09:28:31

A study has suggested the government work on three objectives simultaneously--enforcing strict physical distancing, increased entitlement support, and revamping public health system--- to help prevent...

Tightrope walk for Kamal

JASIM UDDIN HAROON 2020-06-11 09:26:38

The government unveils the budget for fiscal year 2021 today (Thursday) expanding the social safety-net, but the health sector, as indications are available, is likely to get scanty attention despite...

Budget financing: Bank debt target likely at Tk 880b

Siddique Islam 2020-06-11 09:23:12

The government is likely to set its bank borrowing target at Tk 880 billion to partly finance the budget deficit for fiscal year 2020-21. A senior official familiar with the public-debt management sa...

Export to Canada grows by 14.53pc in 2019

FE Online Report 2020-06-10 20:39:43

Bangladesh’s export to Canada grew by 14.53 per cent in 2019 to 1.97 billion Canadian dollar year-on-year mainly due to the trade privilege provided by the latter. The country fetched CAN$1.72...

Budget 2020-21 expected to include measures to offset COVID-19 impact

-- 2020-06-10 19:32:18

Finance Minister AHM Mustafa Kamal is set to unveil on Thursday the proposed budget for the fiscal year 2020-21 (FY21), which is expected to contain suggestive measures to offset the impact of COVID-1...