The budget aims to achieve a growth rate of 8.2%, banking heavily on the expected growth of the outgoing fiscal year (FY2018-19)
Finance Minister AHM Mustafa Kamal has proposed changes to duties on different products, which will result in increase or decrease in their prices.
Milk powder: Customs duty has been proposed to be raised at 10% from existing 5%.
Imported sugar: Specific duty has been raised to Tk3000/MT from Tk2000/MT for raw sugar while it will be Tk6000/MT from Tk4500/MT for refined sugar. Also regulatory duty will be increased to 30% from existing 20% for both refined and raw sugar import.
Mobile services: Supplementary duty hiked to 10% from existing 5% on services provided through mobile phone SIM/RIM cards.
Ice cream: 5% supplementary duty imposed.
Chartered aircrafts and helicopters: Supplementary duty hiked to 25% from existing 20%.
Smart phones: Duty hiked to 25% from existing 10%.
BRTA services: 10% supplementary duty imposed on fees of different services of BRTA.
Rice bran export: Export duty hiked to 25% from 10%.
Olive oil import: Import duty rose to 25% from 10%.
Cancer medicine: Duty on raw materials to become zero percent.
Lifesaving gases: Regulatory duty on import of lifesaving gases to be lowered to 10% from existing 20%.
Transport components: Duty on air filter, brakes, reduced to 15% from existing 25%.
Fire-fighting equipment: Duty on bond seal, and fire retardant paints reduced to 5% from the existing 25%, while duty on Fendolite MII (Mixture), and Lightning arresters will be 5% from 10%.
Gold: Specific duty has been proposed at Tk2000 from existing Tk3000 for each 11.664gm (Bhori) of gold.
Read the full budget speech for FY20 here.