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Economy

Money supply in January rises

Broad money supply in January rose nearly 13 percent to 7,385.26 billion taka ($94.93 billion) from a year earlier, but was down 27.22 billion Taka from the previous call moneymonth, the central bank said on Sunday.         Below is the table of broad money supply: Jan. 2015     Dec. 2014   Jan. 2014 (bl taka)        (bl taka)      (bl taka)                        Broad supply   7,385.26    7,412.48     6,537.65                                                 ($1 = 77.80 taka)  

Courtesy: Reuters

 

Pvt sector’s credit appetite dips in Jan

The country’s private sector credit growth decreased in January from that of December as the businesspeople maintained a go-slow investment policy due to the ongoing political violence. According to Bangladesh Bank data released on Wednesday, the year-on-year credit growth rate in the private sector decreased to 13.33 per cent in January compared with that of 13.50 per cent in December 2014, reports the New Age. Workers on the floor of a garment factory in BangladeshCredit flow to the private sector stood at Tk 5,41,881.90 crore as of January 201...

Inflation soars amid political instability

Country’s inflation leaped to 6. 14 percent in February due to soaring food costs amid political instability the country has suffered since January, official figures showed Wednesday. According to data released by Bangladesh Bureau of Statistics (BBS), the inflation rate went up from January’s 6.04 percent to 6. 14 percent in February. inflationThe data showed that the country’s food prices grew 6.11 percent in February from 6.07 percent in January. A senior BBS official said food inflation soared last month due to “political instabil...

Single VAT rate from July: Muhith

Finance minister Abul Mal Abdul MuhithThe government is finally going to introduce a single rate of value added tax (VAT) from July 2016 replacing the existing multiple rates. Finance minister AMA Muhith said at a meeting to motivate the taxpayers at Diploma Engineers Institute in Dhaka on Wednesday. MuhithMultilateral agencies, particularly International Monetary Fund (IMF), have been pressing the government to keep a uniformed VAT rate – at 15 percent – despite the opposition from the businessmen who are demanding multiple rates. “Though b...

IMF Bangladesh forecast low

The Bangladesh economy will grow by about 6 percent, less than previously forecast, in the year to end-June if political violence persists, the International Monetary Fund said on Tuesday. IMFMore than 120 people have died since protests surged on Jan. 5, the first anniversary of contested national elections. Transport blockades and strikes, led by the main opposition party, the Bangladesh Nationalist Party, and aimed at toppling the government, have disrupted business in the impoverished South Asian nation of 160 million people. “The economy may gro...

NBR requests fin min to consider education cess

The National Board of Revenue has recommended that the finance ministry should consider imposition of three per cent special tax (cess) on income tax for spending in education sector in the upcoming budget for next fiscal year in line with the recently announced budget of India. The revenue board also recommended for increasing the tax-free limit of individual income and making mandatory transaction for buying and selling assets through banking channel, said finance ministry officials. nbr 222The NBR on Tuesday sent an observation report on n...
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