Budget 2011-2012


Budget 2011-2012



Government is expecting to achieve a 7 percent economic growth in the next FY 2011-12. An additional 2,157 megawatt of electricity will be added to the national grid roadmap for power and energy sector, by December 2012. Government is expecting utilisation of most of the committed foreign assistance of US$ 340 million with US$ 1,725 million remaining in the pipe line. Revenue growth will reach to 13.2 percent from 12.1 percent GDP in the coming year. In FY 2011-12, aggregate revenue mobilization has been estimated at Tk. 1,18,385 crore which is 13.2 percent of GDP #It includes NBR Tax revenue of Tk. 91,870 crore (10.2 percent of GDP) ?? Non-NBR Tax revenue of Tk. 3,915 crore (0.4 percent of GDP) # Non-Tax revenue of Tk. 22,600 crore (2.5 percent of GDP). Total expenditure in the budget has been estimated at Tk. 1,63,589 crore #In FY2011-12 budget, there is a total allocation of Tk. 1,17,589 crore (13.1 percent of GDP) for the non-development and other expenditure #Tk. 46000 crore for the Annual Development Programme (5.1 percent of GDP) Overall budget deficit will reach to Tk. 45,204 crore, which is 5.0 percent of GDP Budget #The deficit of Tk. 17,996 crore (2.0 percent of GDP) will be financed from external resources #Tk. 27,208 crore (3.0 percent of GDP) from internal sources #Of domestic financing, Tk. 18,957 crore (2.1 percent of GDP) will come from the banking sector #Tk. 8,251 crore (0.9 percent of GDP) from the non-banking sources In FY2011-12, the non-development and development expenditure have increased by 25.3 and 30.9 percent respectively compared to the revised budget of FY2010-11. The total development expenditure will stand at 7.1 percent of GDP taking together ADP and development expenditures under non-development budget. FY 2011-12 ADP Allocation for the human resource sector (education, health and science and technology) is 22.4 percent. FY 2011-12 ADP Allocation for the overall agriculture sector (agriculture, rural development and rural institutions, and water resources) is 18.5 percent. FY 2011-12 ADP Allocation for the power and energy sector is 18.0 percent. FY 2011-12 ADP Allocation for the communication sector (roads and highways, railways, bridges, shipping, aviation and telecommunication) is 17.5 percent. Priority Areas and Sector-wise Distribution of Budget # 30.4 percent allocation is for the social infrastructure sector # For physical sector 29.2 percent of total allocation # overall agriculture and rural development sector will get 15.2 percent # Broad communication sector 6.5 percent and # Power and energy sector 5.1 percent General service sector 17.1 percent Public Private Partnership (PPP) 5.0 percent Interest payment 11 percent Net lending and other expenditures 7.8 percent Raising Tax-GDP ratio to 13 percent by 2016 Initiating exemplary modern web-based services for e-registration, e-filing, tax-return, declaration submission, tax payment and rebate within 2016; Reducing the number of tax related suits to 80 percent by the year 2016. Government proposes to increase threshold of income for individual taxpayers from Tk.1,65,000/- to Tk. 1,80,000/-. 1. Individuals above 65 years and women from Tk. 1,80,000/- to Tk. 2,00,000/- 2. That of retarded people from Tk. 2,00,000/- to Tk. 2,50,000/-. Online facility will hopefully be available for the whole country within 2013. Information and Service Centres are to be established in Dhaka and Chittagong from July 1, 2011 to provide taxpayers all tax related services. Company taxpayers will be eligible to get 10 percent tax rebate for CSR donation up to Tk. 8 crores subject to a limit of 20 per cent of their income. For individual investment for tax rebate to Tk.1 crore to encourage individual investment. Propose to continue the same facilities as 5 percent of regulatory duty on the commodities having highest customs duty (25%) except the commodities enjoying concessionary rate facilities with a view to protecting local industry and ensuring revenue growth for FY 2011-2012. Tax on SIM card is reduced from Tk. 800 to Tk. 600.
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Newspaper headlines on Budget 2011-2012

::Budget should reflect Digital Bangladesh vision- (The Daily Star, May 27, 2011 )

::Tk 46,000cr ADP approved - (The Daily Star, May 29, 2011 )

::Estimate raises eyebrows - (The Daily Star, June 5,2011 )

::Muhith sees political motivation in CPD doubt - (The Daily Star, June 5, 2011)

::Priority for poor - (The Daily Star, May 31, 2011 )

::27 budget pledges unfulfilled - (The Daily Star ,May 31, 2011)

:: Budget boost sought for challenged people - (The Daily Star ,May 22, 2011 )

::Need for a green budget - (The Daily Star ,June 4, 2011 )

::Power, gas crisis delays investment - (The Daily Star, May 24, 2011 )

::More subsidy for food, power sector on cards- (The Daily Star, May 18, 2011 )

::2011-12 budget: Implement women's advancement policy- (The Daily Star, May 26,2011)

::Govt urged to raise budgetary allocation for agri sector - (The Financial Express, May 18, 2011)

::CPD budget proposals highlight capital gain tax, inflation, VAT- (The Financial Express, April 27,2011)

::Budget and the challenge of accelerating growth-(The Financial Express, May 10, 2011 )

::Expanding govt's SSN programme in ensuing budget ruled out -(The Financial Express, April 29,2011)

:: Media alliance calls for higher tobacco tax- ( Bdnews24, May 31, 2011)

::Wholesale money whitening in capital market could cost in the long run - ( New Age, June 5, 2011 )

::Tough challenges for economy in FY 2011-2012: CPD - (New Age, June 4, 2011 )

::কী চাই বাজেটে, দৈনিক সমকাল - (৬ জুন, ২০১১)

::উন্নয়নবান্ধব বাজেটের প্রত্যাশায় - (দৈনিক প্রথম আলো, ৮ জুন ,২০১১)

::প্রথম আলো গোলটেবিল বৈঠকঃ কেমন বাজেট চাই - (দৈনিক প্রথম আলো, ৩১ মে ,২০১১)

:আবারও পিপিপির ঘোষণা ! - (দৈনিক প্রথম আলো, ৫ জুন, ২০১১ )

::বাড়ছে ভর্তুকির হার, বাড়ছে দুশ্চিন্তা (দৈনিক প্রথম আলো, ৭ জুন, ২০১১ )

::নির্বাচনী অঙ্গীকার পুরনে অর্থমন্ত্রীকে বেগ পেতে হবেঃ ড. আকবর আলি খান(দৈনিক কালের কণ্ঠ, ৩ জুন, ২০১১ )

::বাজেট ২০১১-১২: নতুন করে মোকাবিলা পুরনো চ্যালেঙ্গের (সাপ্তাহিক বুধবার , ২ জুন, ২০১১ )