The parliament today passed a Tk 1,13,819 crore budget for fiscal 2009-10 in absence of the main opposition BNP. After discussing the cut motions on allocation demands by different ministries, MPs passed it by voice vote.
The premier, Sheikh Hasina, on Monday asked the elected representatives and members of the administrations to work hard to implement the proposed budget for 2009-10 fiscal year, which she termed a ‘pro-people’ budget.
A parliamentary body yesterday recommended that the government reduce the proposed import tax on different commodities including second-hand cars of up to 2,000cc, cellphone sets and raw materials for furniture.
Minister AMA Muhith today came down hard on those who were critical of the provision for whitening black money saying many of them had whitened their money in the past.
The government treasury had to see a loss of nearly 400 crore due to the import of about 2000 cars before the budget.
Treasury bench members yesterday praised the budget proposed for next fiscal year saying the new fiscal document has created a new vision for further development in the overall national economy. However, most of them opposed the proposal for 10 percent tax for whitening black money and suggested at least 30 per cent tax to legalise the illegally earned money.
Four fiscal years ago in (2005-2006) budget when for the first time tax was imposed on mobile sets then there were 31 lakh 68 thousand 783 legal sets in the country. In the following year import of sets almost doubled.
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I learnt when I was young, ‘Lekhpora korey je garighora chorey shey’. (Those who study get to ride cars). While growing up I came to learn that it is not only through studying that I can get to ride a car, studying is the blessing of debi Saraswati.
Importers of reconditioned cars dodged around Tk 500 million as duty on motorised vehicles in the first eleven days of the current month. They did so capitalising on the leakage of information relating to rise in taxes in the proposed budget for the fiscal 2009-10.
The government is set to cut its money-whitening offer period only for the share markets, bowing to a massive outcry the proposed 'out-of-the-box' fiscal measure has generated since last week's budget speech.
