Fiscal Year 2024-25
PM asks all concerned to prepare to face probable flood
Prime Minister Sheikh Hasina today asked all concerned, including civil administration, to take necessary preparations in advance to face probable floods in the country.
JS passes Tk7,97,000cr budget for FY25
The Jatiya Sangsad (JS) today (June 30) passed the Tk 7,97,000 crore national budget for FY 2024-25 setting the goal of economic growth at 6.75 percent and keeping annual inflation at around 6.50 per cent.
Anti-corruption drive will spare no one: PM
Prime Minister Sheikh Hasina on Saturday announced that implementing the proposed budget for the 2024-25 fiscal year will propel the country forward. During her budget speech in parliament, she warned that the government has launched a stringent anti-corruption campaign, and those involved in corruption, regardless of who they are, will face severe consequences.
Timely decision on imports
In memory of the world-renowned Spanish poet Federico García Lorca, Sunil Gangopadhyay wrote a stirring poem titled ‘Kobir Mrittu’ ("The Death of the Poet."). In one line of that poem, he wrote, "A ginger trader, lighting a ship-branded bidi, said, 'Even green chili peppers don't have that much spice these days!' In Sunil Gangopadhyay's poem, there is a lament about the spiciness of green chili peppers, but currently, the spiciness of green chili peppers is beyond tolerance across the country. According to information published in the media, green chili peppers that used to sell for 100 Taka per kilogram are now being sold for 300 to 400 Taka, depending on the region. This has become a severe additional burden for ordinary people in a high-inflation market.
Govt reduces ration subsidy of 10 entities including army, police
The government has decided to raise the prices of rice and wheat for employees of 10 government institutions, who get the food items as part of their rations, effective from the next fiscal year.
Bangladesh sees highest LC openings in almost 2 years in May
Bangladesh witnessed its highest Letter of Credit (LC) openings in 23 months, amounting to US $6.83 billion in May 2024, amid an ongoing foreign exchange crisis, according to Bangladesh Bank.
Integrate fiscal policy harmoniously with upcoming monetary policy
Bangladesh Bank is set to announce contractionary new monetary policies for the first six months of the fiscal year 2024-25, signaling significant changes in monetary policy. This includes adjustments in lending rates, addressing reserve constraints, and refining currency supply policies. These steps come at a time when the country is experiencing severe inflationary pressures.
ISPR requests not to get misled by rumours over security of St. Martin’s
Inter Services Public Relation Directorate (ISPR) has urged all not to be misguided by rumours spreading through social media over the security of St. Martin’s island centering Myanmar's ongoing internal conflict near the island.
Opportunity to convert black money into white money, for whose benefit?
Finance Minister Abul Hasan Mahmud Ali has presented a budget proposal for the upcoming fiscal year (2024-2025) with a total size of 7 lakh 97 thousand crore taka. Of this, revenue is 5 lakh 41 thousand crore taka, and the expenditure is 2 lakh 56 thousand crore taka. This means there will be a deficit of 2 lakh 56 thousand crore taka in the budget. To cover the budget deficit, loans totaling 2 lakh 51 thousand 6oo crore Taka will be obtained from various domestic and foreign sources. Of this, 90 thousand 700 crore Taka will come from foreign loans. Additionally, it is expected that 4 thousand 400 crore Taka will be received as grants to help cover the budget deficit. Due to the failure to collect the desired level of revenue from domestic sources, Bangladesh is increasingly becoming dependent on foreign loans. Currently, Bangladesh's tax-to-GDP ratio is 7.6%, which is the lowest among South Asian countries.
Budget lacks vision to recovery for economy: Citizens' Platform
The Citizens' Platform on Sustainable Development Goals (SDGs) on Monday said that the proposed budget did not show a pathway to restoring economic stability.
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