Staff Reporter :
The limit of tax-free income will remain unchanged in the proposed budget of fiscal 2017-2018. The tax-free income limit, which is now Tk 2.5 lakh, will remain the same for the next fiscal, Finance Minister Abul Mal Abdul Muhith says on Thursday at JS.
Muhith proposed the biggest-ever national budget for fiscal year 2017-18 of Tk 400266 crore saying he is placing this budget at a ‘historic juncture’ of economic development.
“Time is ours, time is for Bangladesh,” said the Finance Minister in his budget speech amid table thumping by his colleagues.
With the general election scheduled to be held in FY 2018-19, the next budget will have few initiatives or prospects for opening “new horizons”.
The Finance Minister in his 11th budget at the House, proposed a single and uniform VAT rate of 15 percent for next three years in the new budget.
He said the GDP growth rate will be 7.4 percent in FY 2017-18 and inflation will come down to 5.5 percent by the end of the fiscal year.
The limit of tax-free income will remain unchanged in the proposed budget of fiscal 2017-2018. The tax-free income limit, which is now Tk 2.5 lakh, will remain the same for the next fiscal, Finance Minister Abul Mal Abdul Muhith says on Thursday at JS.
Muhith proposed the biggest-ever national budget for fiscal year 2017-18 of Tk 400266 crore saying he is placing this budget at a ‘historic juncture’ of economic development.
“Time is ours, time is for Bangladesh,” said the Finance Minister in his budget speech amid table thumping by his colleagues.
With the general election scheduled to be held in FY 2018-19, the next budget will have few initiatives or prospects for opening “new horizons”.
The Finance Minister in his 11th budget at the House, proposed a single and uniform VAT rate of 15 percent for next three years in the new budget.
He said the GDP growth rate will be 7.4 percent in FY 2017-18 and inflation will come down to 5.5 percent by the end of the fiscal year.
