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Trade begins at fourth ‘haat’ on Indo-Bangladesh border

Braving heavy rain, thousands of people - including women and children - on Thursday gathered on both sides of the India-Bangladesh border to witness the inauguration of the fourth border ‘haat’ (market) in Kamalasagar-Tarapur area on Thursday. Indian and Bangladeshi singers were in attendance to regale the public with patriotic and popular bd-india bordersongs from both the countries, reports IANS. While Kamalasagar is situated 30 km south-west of Agartala in Sipahijala district of western Tripura, Tarapur is in Brahmanbaria ...

World Bank FSSP to improve financial market infrastructure

The World Bank approved a total of $476 million for two projects in Bangladesh to develop a strong financial sector and to improve agricultural productivity for one million poor farmers. The projects approved by the Bank’s Board of Executive Directors are $300 million for the Financial Sector Support Project (FSSP) and $176.06 million for the Second National Agricultural Technology Program. “These two projects will support Bangladesh to reach middle-income status by strengthening the financial sector and ensuring greater food security. These, in turn will create more and wb

RMG unhappy over budget

Businessmen in the country’s apparel sector are not happy with the proposed tax at source in the national budget for 2015-16 fiscal. At a press conference at the office of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) at Karwan Bazar in the city on Friday, they feared increasing tax at source would hinder the natural growth of the country’s readymade sector. They also alleged that the proposed budget has not been garment-sector-friendly and demanded withdrawal of the proposed tax at source. In his budget proposal on Thursday, finance minister AMA Muhith proposed an increase of tax at source from 0.3 to 1 per cent in the sector. BGMEA president Atiqul Islam read out a written statement at the press conference organised jointly by the BGMEA, Bangladesh Kni...

CPD doubts revenue target achievement

Centre for Policy Dialogue (CPD) doubted that the lion part of the target of the revenue earnings projected in the proposed national budget for 2015-16 fiscal may not be achieved. The think-tank voiced its doubt on Friday at a media briefing organized at capital’s BRAC Centre Inn to give its formal reaction to the national budget placed in parliament on Thursday for the 20105-16 fiscal. At the briefing, economist and CPD’s distinguished fellow Debapriya Bhattachariya made their presentation on the budget. CPD executive director Mostafizur Rahman placed the welcome speech. The CPD also thinks that turning the dream the finance minister dreamt in the proposed budget of breaking free of 6 per cent GDP growth trajectory into reality would be difficult if the proposed revenue target...

Tk 2.95 trillion budget

Finance minister Abul Maal Abdul Muhith Thursday proposed Tk 2.95 trillion (Tk 2,95,100 crore) national budget with a deficit of Tk 86,657 crore in parliament. He sets the target of attaining economic growth at 7 per cent at the end of the 2015-16 fiscal. muhith-1“Our main objective in this fiscal year’s budget will be to break free of the 6 per cent growth trap, and climb up to higher growth trajectory,” the finance minister hoped while unveiling the budget in parliament. The budget of the outgoing fiscal 2014-15 was proposed at Tk 2.5...

Govt joins Better Than Cash Alliance for digital financial service

Aligned with the nation’s Digital Bangladesh Vision 2021, the Government today announced it will accelerate its transition from cash to digital payments, marked by a new partnership with the Better Than Cash Alliance. With mounting evidence that digital financial services are a sustainable strategy to deliver effective govtaccess to financial services for all citizens, the move also supports the Government’s efforts to advance financial inclusion. The Government plans to digitize all forms of social safety payments to citizens, and all forms of fees ...
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