This website uses cookies to ensure you have the best experience. Learn more

Bangladesh Budget Fiscal Year 2016 17 Essay

1556 words - 7 pages

Finance Minister AMA Muhith is set to place the national budget for the next fiscal year (FY17) in parliament this afternoon with a outlay of Tk 340,605 crore.
 
Muhith will place his 8th consecutive budget as finance minister of the AL-led coalition that has been in power since 2009. Muhith is expected to start his presentation using Powerpoint at 3pm.
 
 
The new budget eyes a GDP growth target of 7.2 percent, up from the outgoing fiscal's target of 7 percent, said officials at the Ministry of Finance.
 
 
 
However, as per the provisional estimation of the BBS, the GDP growth is poised to reach 7.05 percent in the outgoing fiscal.
 
The inflation target next year is likely to ...view middle of the document...

Apart from the NBR revenue system, the non-NBR revenue collection target is likely to be Tk 7,250 crore while around Tk 32,350 crore is likely to be collected from various service fees and non-tax sources.
 
Besides, the government has set a target of getting Tk 5,516 crore as foreign grant.
 
To meet the budget deficit, the government is likely to take Tk 38,947 crore credit from the foreign sources of which Tk 8,158 crore would be spent for repaying the interest for foreign credit. As a result, the net government credit from foreign sources is likely to be around Tk 30,789 crore.
 
Besides, the government is set to take Tk 61,548 crore loan from the local sources of which Tk 38,938 crore would come from the banking sector, Tk 19,610 crore from the savings certificates and Tk 3,000 crore credit from the other sources.
 
Around Tk 117,027 crore would be spent for development activities including the Annual Development Programme (ADP) outlay of Tk 110,700 crore. Some Tk 4,147 crore would be spent as non-ADP project expenditure alongside Tk 1,826 crore under the Food for Work Programme and Tk 354 crore for the development programme to be financed from revenue budget.
 
Besides, Tk, 22,700 crore is likely to be kept as subsidy in the new budget which will be lower than the outgoing fiscal year.
 
If the proposed expenditure of Tk 9,645.80 crore for the autonomous bodies and corporations is added to the original ADP, then the overall development expenditure for the next fiscal year would stand at Tk 1,23,345.80 crore.

The outgoing fiscal year is defined by growing confidence and optimism in the country's ability to achieve higher economic growth.
The government's increasing investment in giant infrastructure projects has helped Bangladesh achieve 7.05 percent growth.
Yet, there are many concerns in the economy, with the slowdown in private investment being the paramount of all, brought on by inadequate gas, electricity and land.
Declining remittances could hurt the economy further.
The inflow of foreign direct investment is also a matter of worry. Even though the country offers the most liberal investment opportunities in South Asia, the FDI in Bangladesh is less than in India, Myanmar and Pakistan.
The government's capacity to implement the budget and public-private partnership (PPP) projects also raises questions as no significant progress was seen on this front.
Reforms or privatisation of state-owned enterprises, including troubled banks, is another big challenge for the government.
In this backdrop, Finance Minister AMA Muhith is set to place the budget for fiscal 2016-17 in parliament today.
He has already disclosed many of the budget figures including the total outlay, which would be about Tk 340,000 crore, up about 30 percent year-on-year. The figure is also 17.4 percent of the gross domestic product.
Inadequate gas, electricity and land are big impediments to private investment, said Wahiduddin Mahmud, a renowned...

Other Papers Like Bangladesh Budget Fiscal Year 2016-17

Eskeyef Term Paper

4558 words - 19 pages advertising and promotional material and information portals. And the tagline “Excellence through quality” symbolizes the overall vision of this brand. While the end consumers are not fully aware of the Eskayef brand they are aware of its products in therapeutic drugs, bulk pellets and animal health and nutrition products 17 April 25, 2015 ESKAYEF BANGLADESH LIMITED segments. This has been due the fact that Eskayef has traditionally

Levitating IQ Essay

2045 words - 9 pages Executive Summary The budget strategy of the government for the next 5 years is provided in this document. It features a multi-year perspective of the government’s prioritizing, budgeting, and allocating of resources over the medium term. It is th consistent with the 6 Five Year Plan, which is presented concurrently with this budget strategy. This Medium-Term Budget Strategy and Framework (FY 2011-12 to FY 2015-16) is set against the

Fiscal Polcy in Aus 2013-14

1405 words - 6 pages contractionary fiscal stance). Planned fiscal tightening from 2013-14 to 2016-17 estimates that net public debt will peak at 11.4% of GDP in 2014-15, before expecting to return to surplus by 2016-17. The government has planned $43 billion dollars in savings over the next four years in order to return the budget to surplus. They will do this in the form of discretionary spending and increases in taxation. It is also said that GDP growth is forecast to

Balance of Payment

2705 words - 11 pages years and the gap is increasing every year. Bangladesh imports mostly petroleum product and oil, machinery and parts, soya bean and palm oil, raw cotton, iron and steel and wheat. Bangladesh main imports partners are China (17% of total), India, Indonesia, Singapore and Japan. Bus 510: International Business Table 1: Cost of export, import and trade balance (In million USD) Fiscal Year Total Export Total Import 11870 13301 15511

Growth Policies of Bangladesh

1340 words - 6 pages debacle of the 1972–75 periods, Bangladesh was able to maintain a broad degree of stability of macroeconomic policies, as reflected in relatively low inflation and a stable real exchange rate. Fiscal, monetary and exchange rate management was broadly on track for most of the period until around the end of the 1990s. This long-term good macroeconomic management served Bangladesh well, contributing to incentives for private investment and exports

Backup Of Bangladesh On Its Way To Become A Middle-Income Country By 2021

4115 words - 17 pages challenges, including poor infrastructure, limited foreign direct investment (FDI), and poor economic governance and rising costs of rapid unplanned urbanisation, to meet for becoming a middle income country by next three years. Bangladesh is already in the club of the lower middle-income country as its per capita income rose to $1,314 this fiscal year. The rise in per capita income makes Bangladesh the 58th largest economy in the world in

Joint Director

2706 words - 11 pages reported accounts will be required, including a comprehensive explanation of how a bank calculates its regulatory capital ratios. Bangladesh Bank  17. Contrast Between Basel II and Basel III- Capital Structure 1/25/2016 17 Basel II Basel III Three (3) Tiers of Capital i.e. Tier 1, Tier 2 and Tier 3. Two (2) Tiers of Capital i.e. Tier 1 and Tier 2. Minimum CAR @10% of RWA and Minimum Tier 1 @50% of CAR. Minimum CAR(including capital

Fiscal Policy

1630 words - 7 pages most recent taxes that were due in April 2016, the income tax rate ranged from 10%- 39.6% (Efile, 2016). The United States has a progressive tax system, so it is primarily based off income. The United States also has a pay as you go system, so individuals have taxes deducted from their payroll checks and are then given directly to the government (Colander, 2013). Income tax is calculated after each fiscal year to determine the total. If an

Remittances

5987 words - 24 pages developed countries[1]. If we critically analyze the socioeconomic status of families of short-term or temporary migrants, we will find that most of them come from the moderate poor section of rural areas of Bangladesh. According to Bangladesh Bank, in 2005-2006 fiscal year (July to June next year) total remittance flow was US$ 4.80 billion, in 2006-2007 fiscal year total remittance inflow was approximately US$ 6 billion. Remittances totaled

Value Chain

4992 words - 20 pages from exports by 2015 as the global market favors more shipment from Bangladesh. The Export Promotion Bureau (EPB) and Bangladesh Bank statistics shown in Figure 4.2 (in appendix) , put the total value of export earnings from ceramic ware at $38.33 million in the FY 2007-08, up by 28% from the previous year and in the last fiscal year, the earnings stood at $31.70 million. After a consistent growth in last 15 years, this sector is now in a good

Performance Evaluation

744 words - 3 pages 1st Batch of Business Graduate CENTER FOR BUSINESS STUDIES Faculty of Business Administration University of Chittagong (2013-2014)  Bangladesh gets biggest budget in history of 2.22 trillion taka with estimated expenditure at 18.7% of GDP for 2013-2014 fiscal year. Planning to fetch 1.41 trillion taka as tax revenue and 262.40 billion taka as non-tax revenue. The overall budget deficit was estimated at

Related Essays

Performance Of Fiscal Policy Of Bangladesh

2824 words - 12 pages objectives of the fiscal policy of Bangladesh are to ensure macroeconomic stability of the country, promote economic growth, and develop a mechanism for equitable distribution of income. The main tools to achieve these objectives are variation in public revenue, variation in public expenditure, and management of public debt. These are reflected in the budgetary operations of the government, prepared and implemented on year-on-year basis. While

Mps By Bangladesh Bank 2015 Essay

4677 words - 19 pages private credit into account.  Domestic credit is projected to grow at 15.5 percent at the end of the fiscal year 2016 from 10.9 percent in December 2015. Private sector credit is projected to grow at 14.8 percent in June 2016 from 13.8 percent in December 2015. Public sector credit is expected to grow at 18.7 percent from a negative number of 1.7 percent in December 2015.  Inflation is expected to land in 6.07 percent in June 2016 from

Ghazi Essay

712 words - 3 pages entitled. Secondly, Budget 2016 is aiming to improve the living conditions of Indigenous peoples and their communities and bring about transformational change. The Government has committed to lift the 2-per-cent funding cap for First Nations programs and work to establish a new fiscal relationship that gives First Nations communities sufficient, predictable and sustained funding. Not to forget , By 2020–21, total funding for Indigenous programs

Bangladesh Ict Driven Nation Essay

1578 words - 7 pages 30% in the year 2002-03. Conducive policies announced by the government for industrial development led to revival of the economy. Figure 1.1 shows the GDP growth from 1997-2003. To overcome the slowdown in international trade, Bangladesh Government has taken several critical measures. The private sector has also put its best endeavours to face the situation. To face the severe global competition the local economy had to do cost cutting, improve