Budget of Bangladesh
EXECUTIVE SUMMARY
Forecast of governmental expenditures and revenues for the ensuing fiscal year. In modern industrial economies, the budget is the key instrument for the execution of government economic policies. Because government budgets may promote or retard economic growth in certain areas of the economy and because views about priorities in government spending differ widely, government budgets are the focus of competing political interests. The budget has been announced with eight major objectives including creating employments, maintaining prices of essentials at a tolerable level, ensuring food security and extending social safety net.
INTRODUCTION
Forecast of governmental expenditures and revenues for the ensuing fiscal year. In modern industrial economies, the budget is the key instrument for the execution of government economic policies. Because government budgets may promote or retard economic growth in certain areas of the economy and because views about priorities in government spending differ widely, government budgets are the focus of competing political interests. A government budget is a legal document that is often passed by the legislature, and approved by the chief executive. For example, only certain types of revenue may be imposed and collected. Property tax is frequently the basis for local revenues, while sales tax may be the basis for state revenues, and income tax and corporate tax are the basis for national revenues. On 9 June 2008, the Finance Adviser to the Caretaker Government presented the national budget for the financial year (FY) 2008-09 in a live broadcast over the national radio and TV. The marathon address touched upon almost all aspects of the nation’s economic life – the difficulties surmounted and the successes achieved. While highlighting the budget performance last year, he also laid before the nation the socio-economic targets for the coming year and how the government planned to achieve those. He covered a wide
Forecast of governmental expenditures and revenues for the ensuing fiscal year. In modern industrial economies, the budget is the key instrument for the execution of government economic policies. Because government budgets may promote or retard economic growth in certain areas of the economy and because views about priorities in government spending differ widely, government budgets are the focus of competing political interests. The budget has been announced with eight major objectives including creating employments, maintaining prices of essentials at a tolerable level, ensuring food security and extending social safety net.
INTRODUCTION
Forecast of governmental expenditures and revenues for the ensuing fiscal year. In modern industrial economies, the budget is the key instrument for the execution of government economic policies. Because government budgets may promote or retard economic growth in certain areas of the economy and because views about priorities in government spending differ widely, government budgets are the focus of competing political interests. A government budget is a legal document that is often passed by the legislature, and approved by the chief executive. For example, only certain types of revenue may be imposed and collected. Property tax is frequently the basis for local revenues, while sales tax may be the basis for state revenues, and income tax and corporate tax are the basis for national revenues. On 9 June 2008, the Finance Adviser to the Caretaker Government presented the national budget for the financial year (FY) 2008-09 in a live broadcast over the national radio and TV. The marathon address touched upon almost all aspects of the nation’s economic life – the difficulties surmounted and the successes achieved. While highlighting the budget performance last year, he also laid before the nation the socio-economic targets for the coming year and how the government planned to achieve those. He covered a wide