Annual Bangladesh National Budget 2014-2015 www.mof.gov.bd
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| Annual Bangladesh National Budget 2014-2015 www.mof.gov.bd |
Annual Bangladesh National Budget 2014-2015 www.mof.gov.bd. BEIRUT: Finance Minister Ali Hasan Khalil has finalized the
2014 draft budget without additional taxes, with the deficit soaring nearly 35
percent from last year. Annual Bangladesh National Budget 2014-2015 www.mof.gov.bd.
Annual Bangladesh National Budget 2014-2015 www.mof.gov.bd. Sources told The Daily Star Thursday that Khalil had
submitted his blueprint to the Cabinet Secretariat, which in turn, will put it
on the Cabinet agenda for discussion and approval. Lebanon's government has
failed since 2005 to pass a single budget.
Annual Bangladesh National Budget 2014-2015 www.mof.gov.bd
Local daily As-Safir said Khalil’s 2014 draft law budget did
not include the controversial pay hike or mention sources of funding for the
salary scale.
Parliament has struggled to pass the salary scale draft law
over concerns about its effect on the growing public deficit. Civil servants
and public school teachers have held numerous protests and strikes over the
last two years in an effort to press lawmakers to approve the wage hike without
any increase in taxes on the working class. Speaker Nabih Berri has scheduled a
Parliament session for June 10 to debate the bill, after the last session failed
to convene for lack of quorum.
“The draft budget comes primarily due to the urgent need to
control spending,” Khalil told As-Safir.
The Finance Ministry has suspended advanced funding in a bid
to cut spending in the absence of approved budgets as well as to control public
expenditures.
Khalil said the 2014 budget was similar to last year’s, with
salary increases as a result of the high cost of living and essential
appointments in some ministries.
The 2014 draft law budget contains no new or increased taxes.
“Most of the funding sources come from profits and rent
revenues and proceeds from real estate taxes on bank interest and finance
charges,” Khalil noted.
Expenditures total about LL21.92 trillion in the 2014 budget
compared with about LL21.3 trillion last year, an increase of more than LL600
billion.
Overall revenues were estimated at about LL14.25 trillion
compared with about LL14.1 trillion in 2013.
The 2014 budget deficit was estimated at LL7.67 trillion, an
increase of 34.9 percent from last year's LL6.15 trillion.
The cost of the public debt service was estimated at LL 5.89
trillion, compared with about LL5.7 trillion in 2013, an increase of about
LL190 billion.
The cost of public employees’ salaries totaled about LL8.12
trillion, nearly 27 percent of the total budget expenditure without taking into
consideration any increase if the new salary scale is passed source http://www.dailystar.com.
Finance Minister AMA Muhith has rewritten the country's
history books when he started to propose the 43rd national annual budget in the
Jatiya Sangsad (JS) around 3pm today. Muhith has created history as he has been
presenting his 6th budget in a row – a record in independent Bangladesh.
Muhith, an Awami League MP elected from Sylhet-1 constituency in the January 5
polls, has become the 1st finance minister of post-independence Bangladesh who
has already presented 5 budgets in the House and is now presenting a 6th.
Muhith, who was at the helms of the same ministry in the previous (2009-2013)
govt led by Sheikh Hasina and the regime in early ’80s under HM Ershad, is
presenting the budget for the FY 2014-15 through a power-point presentation or
digital method with an ambitious economic growth target of 7.3% through a
substantial rise in government spending. The proposed budget will have an
allocation of Tk 2.5 trillion (250,506 crore), the biggest national annual
spending outlay. It will be the 15th budget of the Awami League governments and
the 8th for Muhith as the head of the important ministry in the two successive
AL-led governments and the Ershad regime. Muhith’s 1st budget of the present
term would have an outline for the next 5 years of the development activities
with a plan to make the country as a middle income one. Priority would be given
from this budget to implement few mega projects like Padma Bridge,
Dhaka-Chittagong 4-lane project and nine power plants, including Rooppur
nuclear power plant. The will be passed on June 29, according to a news agency.
Annual Bangladesh National Budget 2014-2015 www.mof.gov.bd
