Economic Reporter :
Bangladesh Chamber of Industries (BCI) on Friday welcomed the proposed budget for 2021-22 fiscal year saying that it “prioritises the people’s demands” even during the challenging time of the Covid-19 pandemic.
The optimistic budget will face tough challenges during implementation, BCI directors said in a statement.
Finance Minister AHM Mustafa Kamal unveiled a proposed budget of Tk 6,03,681 crore in parliament on Thursday. He set a growth target of 7.2 per cent and inflation at 5.3 per cent.
The government proposed an allocation of Tk 10,000 crore for the health sector and combating the pandemic.
The BCI welcomed 10-year tax exemption for home appliance and agro-processing industries and for producing machinery in light engineering sector.
It said that the proposed budget is industrial and private sector friendly.
The chamber welcomed a 2.5 per cent corporate tax reduction and suggested continuing the facility for the next three fiscal years. It also thanked the government for reducing the advance tax on import of raw materials from 4 per cent to 3 per cent.
“The size of the proposed budget is not unrealistic,” BCI’s Acting President Priti Chakraborty said.
