ZCZC
BSS-46
ICAB-BUDGET-REACTION
Proposed budget focuses on employment generation: ICAB
DHAKA, June 03, 2021 (BSS) – The Institute of Chartered Accountants of Bangladesh (ICAB) in its initial reaction to the national budget said that the proposed budget has focused on employment generation through skill development, exemption in light engineering, exemption of agro-based industry and bringing the new concept ‘Made in Bangladesh’.
Finance Minister AHM Mustafa Kamal today placed the national budget for the Fiscal Year (FY) 2021-2022.
The budget for FY2021-22 has been announced with a GDP target of 7.2 percent and inflation of
5.3 percent.
In his reaction, ICAB President Mahmudul Hasan Khusru said, “We believe that the joint initiative of NBR and ICAB in implementing Document Verification System (DVS) will facilitate to achieve the targeted revenue.”
“We also believe that this initiative will bring about transparency and accountability in financial arena. We thank the Finance Minister to insert this significant issue in his budget speech”, he added.
He further said, more budgetary allocation is expected in Education, Research and Development and Automation in tax administration.
Budget allocation for social safety net seems to be inadequate considering the substantial number of people falling below the poverty level due to ongoing COVID-19, he added.
He thanked the government for the Budget 2021-22, which is business friendly and will help overcome the current pandemic situation putting the economy on track to achieve the targeted GDP growth.
BSS/PR/TIT/KU/2153 HRS