The Financial Express

CCCI, CMCCI call for cut in VAT

Our Correspondent 2019-06-14 11:11:42

Chattogram Chamber of Commerce and Industry (CCCI) and Chattogram Metropolitan Chamber of Commerce and Industry (CMCCI) welcomed the budget for the next fiscal year and termed it pro-development. Mah...

Pension scheme for both formal, informal institutions on the cards

FE Report 2019-06-14 11:08:01

The government is planning to introduce a universal pension scheme for both formal and informal institutions operating in the country. To this end, a "Universal Pension Authority" will be formed soon...

18pc growth in budget size in line with trend

Zaid Bakht 2019-06-14 11:00:06

Rising public expenditure has been the key driver of growth in Bangladesh economy in recent years. Nearly 18 per cent growth in the size of the budget in FY20 over the revised budget of FY19 is very m...

Source tax rate on yield gains from savings tools to double

FE Report 2019-06-14 10:56:15

The rate of source tax on yield gains from savings instruments is set to increase in the 2019-20 fiscal year (FY). The Finance Bill 2019 has proposed to raise the rate of source tax to 10 per cent fr...

RMG sector gets additional Tk 28.25b

FE Report 2019-06-14 10:52:57

The national budget has proposed a significant rise in the allocation for the country's readymade garment (RMG) sector, taking its contribution and potential into account. In the upcoming fiscal year...

Tax-free income limit, corporate tax rates unchanged

-- 2019-06-14 10:47:25

AHM Mustafa Kamal has proposed keeping tax-free income limit for individuals and corporate tax rates unchanged in his maiden budget. In parliament on Thursday, the finance minister noted that general...

Govt liabilities set to increase

FE Report 2019-06-14 10:41:30

The government's total liabilities are set to rise by nearly 29 per cent in the upcoming fiscal year (FY), 2019-20, on the back of higher domestic liabilities. Liabilities have mainly two fronts-dome...

Businesses welcome proposed budget

Syful Islam 2019-06-14 09:58:44

Country's business community hailed the proposed budget for the fiscal year 2019-20 which was placed in parliament on Thursday. In their instant reaction the business leaders termed the proposed budg...

Budget brings hope to capital market

FE Report 2019-06-14 09:55:53

The finance minister has proposed a set of 'incentives', including an increase in the tax-free threshold for dividend income from the listed companies, in a bid to make the country's capital market vi...

An exceptional hearty budget presentation!

FE Report 2019-06-14 09:44:52

Finance Minister AHM Mustafa Kamal started rolling out the national budget for the fiscal year 2019-20 at around 3:07pm Thursday, but had to skip the full speech after he felt unwell. Prime Minister...

Ambitions galore, short of strategies

Shamsul Huq Zahid 2019-06-14 09:26:32

Undaunted by possible challenges, both domestic and foreign, the government Thursday placed in parliament an ambitious Tk.5.23 trillion budget for the fiscal year (FY) 2019-20. The proposed budget is...

Black money holders to make hay

Doulot Akter Mala 2019-06-14 09:20:34

Black money holders will be able to invest in economic zones and high-tech parks by paying a flat 10 per cent tax in the upcoming fiscal year (FY). The tax authority will not ask any question on the...

Economists say budget lacks growth plans

Mir Mostafizur Rahaman 2019-06-14 09:15:33

Economists noted on Thursday the action plan on how to achieve the targeted growth is missing in the budget proposed for the next fiscal year (FY). They made the observation in their instant reaction...

Reforms proposed to ensure discipline in banking sector

-- 2019-06-13 21:44:15

Finance Minister AHM Mustafa Kamal has suggested a number of reforms to bring back discipline in the banking sector. The proposals put forward in his budget speech include increasing capital (authori...

Freedom fighters to get Tk 12,000 as state honorarium

-- 2019-06-13 21:14:06

The government has taken steps to increase the amount of the state honorarium for freedom fighters to Tk 12,000 from existing Tk 10,000 to ensure their overall welfare. While unveiling the budget of...

Home ministry to get Tk 256.16b, defence ministry Tk 321.01b

-- 2019-06-13 21:00:11

An amount of Tk 256.16 billion has been proposed for Public Security Division and Security Services Division under the Home Ministry in the proposed annual budget for FY20 2. The proposed amount is T...

Tk 2.02t ADP in FY20

-- 2019-06-13 20:27:07

The government has allocated Tk 2.02 trillion (Tk 2,02,721 crore) as Annual Development Programme (ADP) outlay in the proposed national budget for FY20 giving highest priority to the transport sector....

Govt increases allocation for environment ministry to Tk 14.96b

-- 2019-06-13 20:27:03

The government has allocated Tk 14.96 billion for the Ministry of Environment and Forest in the proposed budget for fiscal 2019-20, which is up by Tk 1.56 billion from the last fiscal year's revised a...

Agriculture sector to get Tk 140.53b

-- 2019-06-13 20:18:40

Finance Minister AHM Mustafa Kamal on Thursday proposed an allocation of Tk 140.53 billion aiming to develop the sector. The proposed allocation is Tk 1.39 billion more than that of previous year's a...

New VAT system from July 1

-- 2019-06-13 20:15:27

Finance Minister AHM Mustafa Kamal in his budget speech on Thursday proposed to implement the Value Added Tax and Supplementary Duty Act, 2012 from July 1, 2019. “We are going to implement our...

Prices up, prices down

UNB 2019-06-13 19:50:25

With the announcement of the proposed budget for the upcoming fiscal year (2019-’20), a number of products are expected to see fluctuation in prices both upward and downward. Up Th...

Smartphones to get costlier

-- 2019-06-13 18:45:24

The price of smartphones is set to increase under the proposed budget for the 2019-20 fiscal year. The government plans to raise the customs duty on smartphones to 25 per cent from the existing 10 pe...

Tobacco gets costlier

-- 2019-06-13 18:39:56

The use of tobacco products, including cigarette, bidi, zarda and gul are going to be costlier from the next 2019-20 fiscal year. “Considering the health-risk and harmful effects of 92 tobacco...

Tk 1.0b earmarked for startups

-- 2019-06-13 18:25:24

As the government wants to use the full potential of demographic dividend, an amount of Tk 1.0 billion has been earmarked in the proposed national budget for fiscal 2019-20 as startup capital to promo...

Incentives on remittance from this year

-- 2019-06-13 18:24:39

Finance Minister AHM Mustafa Kamal on Thursday proposed to allocate Tk 30.6 billion to provide incentives on the money that expatriates send back as remittance. The incentives will be given at the r...

Tk 645m for interest-free microcredit to alleviate poverty

-- 2019-06-13 18:02:50

The government has allocated Tk 645 million in the newly proposed budget for interest-free microcredit for poverty reduction programme. Finance Minister AHM Mustafa Kamal said Bangabandhu Sheikh Muji...

Budget 2019-20: Some important features

UNB 2019-06-13 17:54:38

Here are some important features of the new national budget placed by Finance Minister AHM Mustafa Kamal in Parliament on Thursday. *Import volume now $58.9 billion *Export volume $37 billion *Foreig...

Govt projects 5.5pc inflation in FY20

-- 2019-06-13 17:35:37

In the fiscal 2019-20 (FY20), the government has targeted to achieve 8.2 per cent GDP growth containing the inflation rate below 5.5 per cent. The targets were fixed in the proposed budget placed in...

Foreign exchange reserve now $33b

-- 2019-06-13 17:35:22

Country’s foreign exchange reserve now stands at US$33 billion. Finance Minister AHM Mustafa Kamal came up with the statistics while placing the national budget for 2019-20 fiscal year in Parli...

Tax-free income limit unchanged

-- 2019-06-13 17:30:29