Finance Minister AMA Muhith is scheduled to place the budget proposal at parliament tomorrow, at a time when the economy is suffering with high interest rates on bank loans, depreciation of taka against foreign currencies, rising inflation and poor business climate.
Over the past few months, stakeholders from trade bodies in different sectors as well as economists have put forth several proposals and recommendations for the Ministry of Finance to accommodate in the new budget to make the budget people-and investment-friendly.
During the pre-budget discussions, economists expressed their concern about the country’s struggling banking sector, rising inflation rate, and high prices of essentials compared to international prices. Business bodies also sought special attention to the banking sector, focusing on lowering the existing credit interest rates.
Economists have taken a proactive approach to ensure people’s demands, increase investment and generate more jobs, aiming to create a smooth path for the country towards becoming a developing nation.
The demands from the business community, on the other hand, are mostly focused on protecting the local industries by revising corporate tax, customs duty and value-added tax (VAT) rates in order to encourage more investment.
The Dhaka Tribune presents a comprehensive list of the recommendations made by the economists as well trade bodies that they expect to see in the proposed national budget of 2018-19 fiscal year.