Throne speech long on promises, short on specifics-Study Book BD. While resigning in parliament for publication of his first national budget yesterday, all hungry finance minister AHM Mustafa Kamal was kept in the forefront.
He will retire from the Middle East and resign from Prime Minister Sheikh Hasina, took additional material in the budget speech, which was not a shortage of suspension, it came at a time when Bangladesh was running a taxi to take the economy.
By 2030, a financial plan has been prepared for long term short term with the promise of the finance minister to make Bangladesh a high middle-income country.
It is as durable as monitoring surveillance of tax machinery, essential reforms, cleaning the banking sector and upgrading education system to tap the potentiality of the country, but without any concrete action plan or timeline.
At the end of what was a waterfall moment for the economy, most of the time was mostly empty rhetorical.
Even with the best intentions, a government can not do much with limited resources; It needs to raise its way to run its plans or otherwise it’s just an idea.
The Revenue Board’s Revenue Board’s Revenue Board, the budget for the fiscal year 2011-2012, increased the budget of 16.29 percent to Tk 325,600 crore.
It has been able to collect 153,477 crore in the first nine months of NBR 2011-19.88, that is, a high target, that is, in the last three months, 126,522 crore has been collected. There is no indication of past records if this is not possible.
This is a very important question: how much money will the government take in the coming fiscal year? Kamal’s game plan is so passionate about it.
He said that establishment of revenue office in every upazila and development centers of the country, facilitating law and process for income tax, value added taxation and customs and law enforcers and corrupt people and bring more people under the tax net.
here Publish all News Click Now
But there is no information about how he will do it.
For example, in order to set up the electronic financial devices of each business organization to automatically make VAT collection more transparent, the National Board of Revenue plans to automate the VAT system automatically. But what will happen in the fiscal year 2019? He does not say that.
The long-term VAT law will finally be effective in the new financial year.
Instead of the decade, 15 percent of the VAT rate is determined by the international currency fund, which has gone through popular changes.
Critical opinion of economists and tax experts is that it will be difficult to implement.
After a planned plan, Kamal had the opportunity to dismiss these threats but he returned. He said that all the logical support will be provided.
One area where he got more assurances, income tax, because the government is looking for ways to recover revenue.
In line with international best practices, a new income tax law is underway, and it will be established before the parliament next year.
Effective initiatives for expanding the income tax department have already been taken. The number of tax zones from existing 31 will be increased to 63.
Also, banking system fixing hours are required. The problem has been built for several years and the Awami League government has not taken corrective action plans till now.
Kamal’s predecessor AMA Muhith had said that he would form a banking commission headed by the budget for the year 2018-19-19, but the problem was absent in his budget speech.
In order to facilitate the exploitation of weaker banks of weak banks, Kamal said with the necessary amendments to the bank’s company’s laws to enforce the deliberate defaulters and enforce effective bankruptcies and effective bankruptcies. Again, he briefly gives a timeline to give off.
But to rebuild the cash-strapped banking system, it is necessary to pay the loan from 53 percent to 47,364 crore from the source of the government from this source.
The need to improve the quality of human resources has got some attention in the budget.
“Most of our future depends on our education system. Our government will take necessary steps from this year,” Kamal said.
He has allocated Tk 100 crore for training and job placement of young people. Youth unemployment due to the lack of necessary work skills is a growing headache for the government.
A three-year program has been taken to create more work in the industrial sector.
In the next two years the government will facilitate quality employment for the growing population, Kamal said.
In the new budget, Tk 100 crore has been allocated for the payment of seeds for the emerging entrepreneurs.
In the last decade, one of the general broadcasters directing the government to demand widespread economic growth is that a large part of the population can not see it without any benefit.
Kamal tried to address a few things through the expansion of the social security of Kamal: In the coming fiscal year, 15.45 lakh people will be taken for 1.13 crore taka.
74 thousand 367 crores have been allocated for the year 15.47 percent for this year. The amount of 2.58 percent of GDP, which is a share of very fate.
The agricultural sector, which is still the background of the economy, has been neglected compared to other sectors, especially to ensure fair prices of their produce.
However, the absence of special plans for mega infrastructure projects in biggest budget of Kamal’s budget, if Bangladesh wants to become a country of high middle income and then not exceed, then it is not a warrant.
The minister received Tk 202,721 crore in the fifteen mega projects, but the minister could not clearly know whether the special attention will be given to ensure their supplementation as soon as possible.
Every year, they are given only huge allotment of witness taking very little work.
The most important of all at the end of the day is the effective implementation of the budget – corruption, leakage and fraud. Unless it is confirmed, even the unlimited amount of the company will not need any help.
Bangladesh budget 2019-20 National budget 2019-20 Bangladesh National budget 2019-20
Stay with Daily Star Android and iOS News app. Click here to download it for your device.
Daily Star Breaking News alert on your phone