Stock index and turnover rebound today as the investors hope the proposed national budget for 2022-23 to be announced tomorrow will have something positive for the market.

The government is preparing the budget in a cautious way, refraining from increasing expenditure by too much of an extent, keeping in mind the ongoing global economic crisis stemming from the pandemic and Russia-Ukraine war, State Minister for Planning Shamsul Alam said.

The government is likely to hike value-added tax (VAT) on broadband internet and impose a 5 per cent VAT on handsets manufacturing in the upcoming budget, which will increase handset and internet prices from next fiscal year. 

The upcoming budget should increase allocation in the education sector to make up for the losses during the Covid-19 pandemic, demanded Campaign For Popular Education (CAMPE), an education advocacy and campaign network, yesterday.

Bangladesh government presents the national budget every June. The national budget for the fiscal year 2022-2023 is going to be announced soon. Last year, the government presented a budget of Tk 6 lakh crore. There are talks of the budget being seven and a half lakh crore this time.

The finance minister of Bangladesh is scheduled to place the national budget for 2022-23 fiscal year at parliament on June 9.

The budget session of the fiscal year 2022-23 began today (June 5, 2022) at the parliament.

Bank accounts with upwards of Tk 1 crore in balance are set to face a higher excise duty next fiscal year as the government looks to collect more taxes from the relatively well-off to get close to the lofty revenue collection target.

Lack of resources is often cited as the key reason behind this.

The government is committed to using the long-overdue National Household Database (NHD) from the next fiscal year to better target the social safety net programmes, in a development that can infuse dynamism in the flat scheme.

The budget of the upcoming fiscal year will be presented on the national parliament on June 9, Finance Minister AHM Mustafa Kamal said today.

The government should prioritise job creation and inflation control in the budget for the next fiscal year in a bid to help the marginalised people survive amid higher prices of essentials, said the Citizen’s Platform for SDGs, Bangladesh, yesterday.