Dhaka, (Barta24.com): Finance Minister AHM Mostofa Kamal will present the budget of 2019-20 fiscal this afternoon on Thursday (June 13) with the object of ‘Bangladesh is on the highway of future prosperity, time is ours now’ lead. Containing some surprising features for peoples’ satisfaction AHM Mostofa Kamal is going place in the Jatiyo Sangsad the biggest ever budget of Taka 5 lakh 23 thousand 190 crore inscribed in 100 pages which is 5.04 percent of GDP.
Coming out from the continuity and conventional ideas AHM Mostofa Kamal will present his first budget for the first time. Though the size of the budget has increased but the budget speech will be shorter this time. However an extended copy of this budget speech will be opened to all which will be easy reading for the people of all classes. The budget of last fiscal was of 166 pages but this time it will be of 135 pages. However the main budget book will be of 100 pages while the rest 35 pages will contain various graphs and statistics.
The ensuing budget has been prepared with long term object targeting the year 2041.
The revenue earning target has been increased this time but not enhancing the rate of tax rather widening the tax net. Besides, for easy revenue earnings now there will be new directives for NBR. To execute VAT law there will be directives in the new budget. There will several tiers in executing VAT law. Bringing necessary amendments in customs law and income tax law it will be made easier and business friendly. All goods of import and export will be scanned hundred percent.
In the new budget there will be directions for reforms proposal in education sector, economic sector, good governance for share market and incentives to the market. These will be both attractive and acceptable to all. For the first time the new budget will be placed in the Jatiyo Sangsad in digital method. The extended part of the budget speech, main budget speech and other related documents will be uploaded in the web site and will also be supplied from the Jatiyo Sangsad.
To make the budget more participatory any individual or organization will be able to down load all information and important documents of the budget from the website of the Finance Ministry https:// mof.gov.bd/. Besides, the feed back forms containing suggestions and recommendations on the budget can be uploaded from within the country and also from abroad.
All the suggestions and recommendations will be considered at the time of passing the budget by the Jatiyo Sangsad.