Leaders of the country's trade bodies, industrialists and business personalities have expressed their mixed reactions over the proposed budget for the FY-2023-24, which has just been placed before the national parliament on Thursday.
Some of them have hailed the government saying that the budget will help control inflation while some others have demanded to reconsider some tax measures aiming to promote industrialization and private sector growth.
President of the country's apex trade body, the Federation of Bangladesh Chamber of Commerce and Industries (FBCCI), Md. Jashim Uddin said that the budget has suggested ways how to soothe the miseries of the lower-income segment of people in society.
"We from the FBCCI express our gratitude to the government for announcing a smart budget for building a smart Bangladesh", said Jashim Uddin.
Dhaka Chamber President Barrister Sameer Sattar while giving his instant reaction said that the budget has been designed mainly targeting to curb inflation, increase revenue earning and reduce import dependence.
He said the budget has measures for private sector recovery from the ongoing global crisis.
Sattar suggested that the implementation of a budget is not only
the responsibility of the government, but it also requires partnership with the private sector.
President of Bangladesh Real Estate and Housing Association of Bangladesh (REHAB) Md. AlamgirShamsulAlamin has demanded to reconsider the budget proposals in terms of the housing and real estate sector.
"The budget has proposed to increase source tax for registration of land so this will certainly cause to increase in prices of land and flats if the government do not reconsider the proposal", he added.
He also said that none of their recommendations or demands was entertained in the proposed budget, especially including investment of undisclosed money, reducing registration costs of old flats and developing a special fund.
Bangladesh Women Chamber of Commerce and Industries (BWWCCI) has praised the government for increasing the personal tax limit for women to Taka 4, 00,000 instead of Taka 3, 50,000, and also for increasing the female quota from 10% to 20% for admission in technical education.
"Proposal for limiting income tax return form for 12 sections with respect to tax deduction at the source instead of presently exists 29 sections will help ease promote the business and investment in the country," the chamber leader said.
BWCCI, however, has strongly recommended allocating Tk. 200 crores for the development of women entrepreneurs, exemption of Tax and VAT for new women entrepreneurs for the first 3 years of starting a business and reducing the new Trade License fees and renewal fees up to 50%.