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Finance Minister AHM Mustafa Kamal unveiled a Tk523,190 crore proposed budget for FY2019-20 in the parliament on Thursday. Although there are various challenges to implementing VAT and revenue collection, the proposed budget for the 2019-20 fiscal year is business-friendly, business people have said.

‘Widespread imbalances in revenue, financial and external sectors, and disproportionate burden on the income and welfare of the common people are creating challenges and sloppy conditions for the economy with an impending crisis which is looming large’

Posts and Telecom gets Tk3,456 crore. Allocation for the Information and Communication Technology (ICT) Division rose by 11.11% from previous year’s budget to Tk1,930 crore while Posts and Telecommunications Division received Tk3,456 crore in the proposed budget for 2019-2020 fiscal, placed by Finance Minister AHM Mustafa Kamal at Jatiya Sangsad …

In the draft budget, GDP growth for the next fiscal year has been estimated at 8.2%Prime Minister Sheikh Hasina on Friday said the draft budget is a public welfare oriented budget, and the proposed fiscal measures and allocations would propel the economy to benefit people in all walks of life.

Growth rate of the agriculture sector and its contribution to the country’s economy have dropped amid lack of government support and initiative for modernising the sector.

Tax on the value of stock dividend at the rate of 15 per cent will be collected from the listed company within sixty days of such declaration, according to the National Board of Revenue.

Association of Mobile Telecom Operators of Bangladesh on Friday termed the hike in taxes on the mobile phone companies and telecommunication services as unjust and ruinous for the sector and sought a reversal of the move.

The Foreign Investors’ Chamber of Commerce & Industry on Friday said that the proposed budget of Tk 5,23,190 crore for the next fiscal year was challenging considering the budget growth in the previous year.

“We are implementing Padma Bridge, tunnel under the Karnaphuli riverbed, the Dhaka Elevated Expressway from Hazrat Shahjalal International Airport to Kutubkhali on Dhaka-Chattogram Highway and many other mega projects to establish an integrated and uninterrupted communication network in Bangladesh,” he said while placing the budget.

Power and Energy sector has got an allocation of TK 19 thousand and 100 core as subsidy and cash loan in the proposed budget of FY-2019-20.