Country's top business leaders termed the proposed national budget for the FY 2021-22 rational and practical on the perspective of people's expectations and the implementation of the commitments of the government.
President of the country's apex trade body, Federation of Bangladesh Chamber of Commerce and Industries (FBCCI), Md Jashim Uddin in his instant reaction said the budget is not impractical as per the demand of people and in implementing the commitment of the government to people.
The main challenges of implementing the budget are good governance, proper monitoring, ensuring revenue management through development of investment and production, ensuring skill, accountability and transparency, he said.
He also said the budget has been prepared with the sequence of development of the 8th Five-Year Plan, challenges of LDC Graduation and targets of SDG.
DCCI, the largest chamber of the country in its initial reaction on the proposed national budget on Thursday said that the budget is a big one with an aim to economic recovery and effort to balance between life and livelihood.
President of the Dhaka Chamber of Commerce & Industry, Rizwan Rahman in an instant statement said budget is by and large inclusive and pro-people.
He thanked the government for reducing corporate tax both for listed and non-listed companies. It will help boost investment. But he suggested to reduce it at a progressive rate of 2.5% in FY2022-23 and FY2023-24.
In some cases the budget slashes tax rate which may fuel investment, he said. He also urged to ensure easier stimulus for all CMSMEs but the size of stimulus can be bigger to safeguard all CMSMEs.
Bangladesh Women Chamber of Commerce & Industry (BWCCI) hailed the proposed budget terming it as rational and extensive for the fiscal year 2021-22 in view of the prevailing Covid-19 pandemic.
BWCCI expresses its gratitude to the government for placing highest importance on health sector especially for protecting the covid-19 pandemic, social safety net, SME sector, industrial sectors and especially for e-commerce as priority sectors.
The Chamber also praises the government for undertaking the special incentive for the development of the women entrepreneurs working in the SME sector and increasing the amount Taka 70 lac of business turnover of the women entrepreneurs outside the purview of taxation. As a result the women entrepreneurs and the SME sector will be benefitted from this tax exemption.
