The National Budget
Will high inflation come under control anytime soon?
The current national budget has given special importance to controlling high inflation. Despite efforts over the past one and a half years, inflation remains unmanageable. The budget has set a target to bring down the inflation rate to 6.5% within the current fiscal year. However, most economists in the country believe this target is unattainable given the current state of the economy. They predict that even if inflation does not rise further, it is unlikely to fall below 9% anytime soon. Finance Minister Abul Hassan Mahmud Ali mentioned in a post-budget press conference that inflation would decrease within the next six months, but did not specify how this target would be achieved. A new monetary policy for the first six months of the current fiscal year is expected to be announced soon, and it is certain that controlling high inflation will be a priority. However, it is unlikely that inflation can be brought to a tolerable level through monetary policy alone.
BB to announce monetary policy online on July 18
The Bangladesh Bank (BB) tries to protect the economic development and stability of the country by announcing the monetary policy twice a year.
Big push needed for raising cigarette prices in budget: Atiur Rahman
For the first time in recent years, prices of all-tier cigarettes and supplementary duty on all those cigarettes have been raised simultaneously in the budget for FY2024-25. While this is commendable, it is also important to give a ‘big push’ for raising cigarette prices in budget, instead of raising those prices slightly every year.
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.
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.
Government allocation for education should be increased
Education is considered as a cornerstone for the development of civilization and the enhancement of human resources. Therefore, in order to establish a consensus-based education system in advanced countries, their governments are compelled to increase expenditure in this sector. In our country, the government is also striving to bring about qualitative changes, including increasing expenditure in this sector, with the aim of ensuring a consensus-based education system. However, due to various problems and crises, including insufficient allocation in the government budget for education, the desired goals in the country's education system have not yet been achieved.
Austerity Budget 2024-25
With a commitment to building a happy, prosperous, advanced, and Smart Bangladesh, Finance Minister Abul Hasan Mahmood Ali has presented the new budget for the fiscal year 2024-25 in the parliament. This is his first budget, the 25th budget of the Awami League government, and the 54th budget of Bangladesh. It is also the 21st budget under Prime Minister Sheikh Hasina. The size of the budget has increased rapidly during this government's tenure. In the fiscal year 2009-10, the total budget was BDT 1,10,523 crore. After 15 years, in the fiscal year 2024-25, it has increased by 621.12% to BDT 7,97,000 crore. The proposed new budget is 4.62% higher than the original budget of the current fiscal year and 11.56% higher than the revised budget. The size of this budget is 14.20% of GDP. The original budget size for the current fiscal year was BDT 7,61,785 crore, which was 15.21% of GDP. The size of the first budget after independence was BDT 786 crore. The proposed new budget is 1,014 times higher than that budget.
This budget is to prevent high profile looters: Quader
Quader said, "Saifur Rahman and Begum Khaleda Zia also made black money white. Are they also criminals? Looters were not prosecuted during BNP's tenure.
Budget 2024-25 to increase the tyranny of Black Money Holders
The national budget is not merely an annual account of income and expenditure but, in the current context, it serves as a tool to earn the trust and confidence of the people. The government's vision and goals are not confined within the boundaries of budgetary directives alone. Instead, it reflects the initiatives or measures the government is taking or will take to achieve or address issues related to the country's tendencies, resource acquisition, or problem-solving in various aspects. It provides direction on how the government intends to fulfill or will fulfill the expectations of the citizens.
Land development tax collection period set from July 1 to June 30
Land Minister Narayon Chandra Chanda announced that the land development tax collection period will be set from July 1 to June 30, matching the fiscal year.
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