United News of Bangladesh

Finance Adviser Salehuddin Ahmed on Monday called the proposed Tk 790,000 crore national budget for 2025–26 somewhat ‘unusual’, as it is the first time in the country's history that a new budget is smaller than the previous one. “This year's budget is somewhat exceptional. For the first time in the country's history, we are proposing a smaller budget for the next fiscal year than the budget of FY2024-25,” he said while presenting the budget in a televised speech. Moving away from a growth-centric concept, Salehuddin said they have tried to emphasise the concept of holistic development. Finance Adviser starts unveiling national budget “Therefore, instead of highlighting the traditional physical infrastructure development, we have given priority to the people in this year's budget,” he said. The adviser said without ensuring the essential elements of guarantee of fundamental rights, necessary measures for good living, security of livelihood and environment free from discrimination any state becomes ineffective, and the foundation of a society is weakened. Considering this, he said in this year's budget, special emphasis has been laid on education, health, good governance, civic facilities, employment etc. Besides, Salehuddin said realising the benefits of the Fourth Industrial Revolution, preparing for the post-LDC graduation period, mitigating the risks of climate change and ensuring sustainable development have been given appropriate priorities. The Finance Adviser commenced the presentation of the Tk 790,000 crore national budget for the 2025–26 fiscal year, which begins in July. This is the first time Salehuddin, a former central bank governor, has presented the national budget, as well as the first budget presented by the interim government led by Prof Muhammad Yunus.  

ARTICLE 19 (A19) Bangladesh and South Asia, a UK-based human rights organization, has appreciated the government’s initiative of special tax exemptions for the third gender citizens in the proposed budget for FY2021-22.  Such initiative will help mainstream third gender people by increasing their employment opportunity, living standard with dignity and socioeconomic security, A19 said in a media release on Monday. Read Include digital literacy programmes in the school curriculum: ARTICLE 19 The organisation said this initiative will enable them to play a progressive role in the country's economy and development.  A19 welcomed the intention of increasing the tax-free income limit for third gender people and said such additions will remove the stereotype mind-set gradually from society.  The organisation said the society will consider them, as well as sex-binary people as part of the gross development of the country without considering their gender identity. Also read: G-7 back steps to deter tax dodging by multinational firms Faruq Faisel, Regional Director of ARTICLE 19 Bangladesh and South Asia, said the budget has proposed special incentives to the private sector if they increase employment opportunity for the third gender population. “This initiative will increase employment opportunity for third gender persons in the private sector and change the social attitude towards them. Besides, these marginalized people will contribute to the productivity growth in the country and improve their living standard simultaneously," said Faisel. Read Irene Khan greeted as she resumes her new role from Aug 1

The finance minister’s proposed budget fell short of focusing on health and hygiene as a key priority in the post-Pandemic situation, even though the multi-sectoral damage inflicted by the virus has vividly embodied the necessity to meet the challenges in health and WASH sector, said speakers in a press conference on Sunday.

The Chittagong Chamber of Commerce and Industry (CCCI) has welcomed the proposed budget for the fiscal year 2020-21, terming it as a business- and people-friendly budget.