• Friday, Feb 03, 2023
  • Last Update : 10:24 am

ED: Aiming to please

  • Published at 01:53 am June 4th, 2021
Budget FY 22
Photo: Bigstock

The government would do well to balance the budget out

The 2021-2022 budget unveiled by the government is one that definitely gets several things right, and will, without a doubt, benefit a significant chunk of the population, especially in these troubled times.

The budget, valued at Tk603,681 crore, is about 17.4% of GDP and has been designed in accordance with the recent hit the economy has taken due to the global pandemic.

Businesses small and large will see great incentives in terms of tax cuts -- significant corporate tax cuts will see companies unlisted in the stock exchange paying a tax rate of 30% (as opposed to 32.5%) whereas listed organizations will see a drop from 25% to 22.5%.

Furthermore, and what is especially pleasing to see, is the government’s decision to give tax breaks to organizations whose employees comprise 10% or 100 people belonging to the transgender community, which will undoubtedly create a far more inclusive economy than before, and pave the way towards the employment of thousands of transgender people across the nation. In general, we have seen the government increase the size of the social safety net which has kept so many people buoyant during the pandemic.

We are also seeing an education sector rise from Tk66,401cr last year to Tk71,951cr this year, showing the government’s willingness to invest in the education system, one that has for the longest time required revision. 

However, this is still not up to the mark -- our neighbouring countries, some of which are poorer, invest a far larger a percentage of their annual budget to the education sector, but the increase in funds is better than nothing.  

While a budget remains a complex entity, and there are definitely things the budget gets wrong, the government has tried to please the people by providing breaks. In this regard, the government would do well to balance the budget out through aid, grants, or foreign investment, which is another highly complex matter.

Facebook 64
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail