...Government Budgeting in Bangladesh”. The underlying objectives of this assignment can be classified in the following two types, Broad Objective: • To analysis the overall government budget for last two years. Specific Objectives: • To identify the problem of government budget in Bangladesh. • To describe the present of social accounting. • To depict the objective of social accounting. • To elucidate the companies of social accounting in Bangladesh. • To depict the solutions of budgeting problem in Bangladesh. 1.3 Scope This assignment focuses on the government budgeting in Bangladesh. So, to identify the problems and give the solutions of it is the main concern of the assignment. A government budget is a legal document that is often passed by the legislature, and approved by the chief executive-or president. The study mainly deals with the problems & solutions of government budgeting in Bangladesh. 2.1 Government Budget A government budget is a legal document that is often passed by the legislature, and approved by the chief executive-or president. Every year Bangladesh government proposed their yearly budget on the month July. For example, only certain types of revenue may be imposed and collected. Property tax is frequently the basis for municipal and county revenues, while sales tax and/or income tax are the basis for state revenues, and income tax and corporate tax are the basis for national revenues. The two basic elements of any budget are the revenues...
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...A Chronicle of Last Three Years: Building the Future Budget Speech 2012-13 Abul Maal Abdul Muhith Minister Ministry of Finance Government of People’s Republic of Bangladesh Dhaka 24 Jaisthya 1419 7 June 2012 Contents Issues Permission Page 1 Chapter I: Introduction and Background Tribute, Acknowledgement, The Vision, Budget: A 1-4 Tool for Realising the Vision Chapter II: Macroeconomy and Global Perspective Global Perspective, Growth, External Sector, Remittance and Manpower Export, Current Account, 5-7 Foreign Exchange Reserve and Exchange Rate, Inflation, Monetary Policy Chapter III: Budget for FY 2011-12: Problems and Corrections Revised Revenue Targets, Revised Expenditure Targets, Budget Deficit, Revised ADP, Recent Economic Scenario, Economic Strategies Chapter IV: FY2011-12 Budget Structure Assumptions: Global Economy, Monetary and Fiscal Space, Sustained Growth in Agriculture, Private Sector Investment, Revenue Mobilisation, Inflation Structure: Estimates of Revenue Income, Estimates of Expenditure, Budget Deficit and Financing, Annual Development Programme, Overall Expenditure Structure Chapter V: Reform Programmes Public Financial Management: Medium Term Budget Framework, Multi-module Database (iBAS), Reforms in Expenditure Management, ADP Implementation, New Budget Classification Structure and District Budget, Information Technology in the Public Financial Management, Strengthening Audit Ensuring Private Participation in the Infrastructure Sector: Public-Private...
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...Introduction: Budget might be regarded as public intentions with price tags attached. Budgets include itemized estimates of anticipated income and expenses, including a plan of operation based on such estimates. Government budget, forecast by a government of its expenditures and revenues for a specific period of time. In national finance, the period covered by a budget is usually a year, known as a financial or fiscal year, which may or may not correspond with the calendar year. The word budget is derived from the Old French bougette (“little bag”). Budgets have an economic, political and technical basis. Unlike a pure economic budget, they are not entirely designed to allocate scarce resources for the best economic use. They also have a political basis wherein different interests push and pull in an attempt to obtain benefits and avoid burdens. The technical element is the forecast of the likely levels of revenues and expenses. Rational Of The Study: The Paper is assigned by our course teacher Ast. Prof. Md. Shariful Alam Khandakar as a part of our“Taxation” course. The topic of our Assignment paper is “Budget Analyse of FY 2012-13’ impacts”. By conducting this Assignment we can enhance our knowledge and skill to apply various research methods in professional life on higher educational life. The assigned task has given us a chance to raise our quality in developing research instrument and its applications. By doing so, we can boost our acceptability in economy and develop our...
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...billion proposed budget for the forthcoming fiscal, 2012-13, is sized at 18.1 per cent of the country's gross domestic product (GDP) that is projected to do grow at 7.2 per cent during the year. There are challenges and risks, both domestic and external, that do provide some strong reasons for being not much optimistic at this stage about achieving this growth performance. That does not mean that the growth target itself is overambitious. The actual performance of the Bangladesh economy has otherwise been impressive over the past several years in a row, given the comparative picture of other low-income developing countries and the odds and difficulties, both exogenous and endogenous. But even this performance has been considered below the potential of Bangladesh. This is what the economists, analysts, development practitioners and all others, within and outside, have been stating about Bangladesh over the years. The growth rate, however, is not the sole indicator of 'socio-economic development' in its broad sense. But it unquestionably remains to be one of the important criteria for assessing the overall performance of an economy. The quality of growth -- its nature and dimension of inclusiveness, impact on social development indices concerning the state of education, health, nutrition and, thus, human resource development, income-distribution and employment-generation effects, poverty alleviation efforts etc. -- is also a pertinent point for consideration. The budget through its...
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...ativeBudget Analysis: The present Budget of Bangladesh for the year FY14-15 has been presented at a time when the Bangladeshi economy is heading towards a high growth trajectory, albeit certain challenges such as elevated inflation, high Current Account Deficit (CAD), and moderating growth of industrial production, lack of capital investment, poor level of power & energy, low level of liquidity, etc. At the current juncture, what was required from the Budget was to address the issue of inflation and support growth momentum, while maintaining the focus on fiscal consolidation and continuing ahead on the reform agenda. Increased allocation of planned resources towards infrastructure projects along with the proposals to direct foreign funds and private saving towards infrastructure sector will unlock much of the growth potential of the sector. Although the continued force on infrastructure along with power & energy, agriculture and education sectors is expected to provide significant impetus to economic growth in the medium-term, measures to control inflation in the immediate future were missing in the budget announcements. On the fiscal deficit front, the budgeted fiscal deficit is 5% of GDP for FY14-15. This indicates government will face lot of trouble in near future. This can be reduced through increasing Tax revenue, reduce debt service liability and etc. Budgeted Expenditure for FY14-15 For FY14-15, total expenditure is budgeted to increase by 15.9% to 250,506...
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...Term Paper on Taxation A tax holiday is a temporary reduction or elimination of a tax. Governments usually create tax holidays as incentives for business investment. The taxes that are most commonly reduced by national and local governments are sales taxes. In developing countries, governments sometimes reduce or eliminate corporate taxes for the purpose of attracting Foreign Direct Investment or stimulating growth in selected industries. Tax holiday is given in respect of particular activities, and sometimes also only in particular areas with a view to develop that area of business. A government incentive program that offers a tax reduction or elimination to businesses. Tax holidays are often used to reduce sales taxes by local governments, but they are also commonly used by governments in developing countries to help stimulate foreign investment. If, in the midst of sorting receipts and studying the latest changes in the US income tax laws, you suddenly wonder "What is the origin of this annual ritual in the weeks leading up to April 15th?" here are some places you can go for answers. The origin of the income tax on individuals is generally cited as the passage of the 16th Amendment, passed by Congress on July 2, 1909, and ratified February 3, 1913; however, its history actually goes back even further. During the Civil War Congress passed the Revenue Act of 1861 which included a tax on personal incomes to help pay war expenses. The tax was repealed ten years later. However...
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...Monetary Policy Statement (July‐December 2012: H1FY13) Executive Summary This issue of the Bangladesh Bank (BB) half yearly Monetary Policy Statement (MPS) outlines the monetary policy stance that BB will pursue in H1 FY13 (July‐December 2012), based on an assessment of global and domestic macro‐economic conditions and outlook. BB’s monetary policy has two major objectives: (i) maintaining inflation at moderate levels and (ii) supporting inclusive growth objectives of the Government. This MPS was preceded by productive consultations with a range of key stakeholders and web‐based comments were also received. In FY10 and FY11 the global economy continued languishing in the aftermath of the 2009 global financial crisis and BB eased monetary policy in order to limit the impact on the Bangladesh economy. Due to this and other pro‐active measures, the Bangladesh economy emerged largely unscathed from this global crisis, averaging over 6% growth between FY09 and FY11. In FY12 the economy faced a different set of challenges related to rising inflation and balance of payments pressures. In order to address these challenges BB’s monetary stance was more restrained than earlier years and yet able to accommodate a private sector credit growth rate which was more than sufficient to meet the initial GDP growth target. The monetary growth targets set in January 2012 were met and the key outcomes – falling inflation and con...
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...MEDIA BRIEFING AN ANALYSIS OF THE NATIONAL BUDGET FOR FY2015 06 JUNE 2014 CPD IRBD 2014 TEAM Dr Debapriya Bhattacharya, Distinguished Fellow CPD and, Professor Mustafizur Rahman, Executive Director, CPD were in overall charge of preparing this report as the Team Leaders. Lead contributions were provided by Dr Fahmida Khatun, Research Director; Dr Khondaker Golam Moazzem, Additional Research Director and Mr Towfiqul Islam Khan, Research Fellow, CPD. Valuable research support was received from Mr M Shafiqul Islam, Additional Director, Administration & Finance; Ms Khaleda Akhter, Senior Research Associate; Mr Muhammad Al Amin, Senior Research Associate; Mr Kishore Kumer Basak, Senior Research Associate; Mr Md. Zafar Sadique, Senior Research Associate; Ms Mehruna Islam Chowdhury, Senior Research Associate; Mr Uttam Kumar Paul, Deputy Director, Accounts; Mr Mashfique Ibne Akbar, Research Associate; Ms Farzana Sehrin, Research Associate; Ms Saifa Raz, Research Associate; Ms Umme Salma, Research Associate; Ms Umme Shefa Rezbana, Research Associate; Ms Mahenaw Ummul Wara, Research Associate; Dialogue Associate; Mr Md. Naimul Gani Saif, Research Associate; Mr Mohammad Afshar Ali, Research Associate; Ms Shahida Pervin, Research Associate; Ms Afnan Ashfaque, Research Associate; Mr Mostafa Amir Sabbih, Research Associate; Ms Kashfi Rayan, Research Associate; Ms Shahzeen Hafiz, Programme Associate; Mr Ziad Quader, Research Intern; Ms Nadee Naboneeta Imran, Research Intern and Mr...
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...Monetary Policy Statement (July-December 2012: H1FY13) Executive Summary This issue of the Bangladesh Bank (BB) half yearly Monetary Policy Statement (MPS) outlines the monetary policy stance that BB will pursue in H1 FY13 (July-December 2012), based on an assessment of global and domestic macro-economic conditions and outlook. BB’s monetary policy has two major objectives: (i) maintaining inflation at moderate levels and (ii) supporting inclusive growth objectives of the Government. This MPS was preceded by productive consultations with a range of key stakeholders and web-based comments were also received. In FY10 and FY11 the global economy continued languishing in the aftermath of the 2009 global financial crisis and BB eased monetary policy in order to limit the impact on the Bangladesh economy. Due to this and other pro-active measures, the Bangladesh economy emerged largely unscathed from this global crisis, averaging over 6% growth between FY09 and FY11. In FY12 the economy faced a different set of challenges related to rising inflation and balance of payments pressures. In order to address these challenges BB’s monetary stance was more restrained than earlier years and yet able to accommodate a private sector credit growth rate which was more than sufficient to meet the initial GDP growth target. The monetary growth targets set in January 2012 were met and the key outcomes – falling inflation and containment of external sector pressures – were achieved...
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...SEMINAR ADMINISTRATION DEVELOPMENT 1 BUILDING SOCIAL BUSINES ‘D’ BY JULIUS KWAKU KATTAH STUDENT ID. NO. UD32228BEC40802 DOCTORATE IN INTERNATIONAL ECONOMICS ATLANTIC INTERNATIONAL UNIVERSITY, HONOLULU, USA 09/07/14 ABTRACT The business strategy perspective argues that achieving competitive advantage hinges on pursing a coherent competitive strategy. Family businesses are also said to manifest a strong desire to develop enduring and committed social relationships with external stakeholders. This study examines the effect of business strategy on performance of family businesses and how their managerial social networking relationships with external entities moderate the business strategy–performance link. Using data from 54 family firms from Ghana, the findings indicate that: (1) the pursuit of the business strategies of cost leadership and differentiation create competitive advantage for family businesses; (2) social networking relationships with government bureaucratic officials and community leaders are beneficial to family businesses, but social networking relationships with political leaders is detrimental to family businesses; and (3) the benefit of business strategy to...
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...Green Banking activities in EXIM Bank Compiled by: Sheikh Moyeen Uddin Executive Vice President IRMAD-II, EXIM Bank, Head Office, Dhaka. What is Green Banking i.e Environmental Risk Management & its purpose? It’s a Banking for saving the environment from different hazards and pollution. A risk due to environmental impacts caused by environmental conditions generating an element of uncertainty or possibility of loss in the context of a financing transaction. Purpose The overall purpose of Environmental Risk Management is to understand and manage risk that arises from environmental concerns. This brings a focus on planning and implementing policies and procedures to mitigate environmental risks. The specific purposes are to: Ø Examine the environmental issues and concerns associated with potential business activities proposed for financing Ø Identify, evaluate and manage the environmental risk and the associated financial implications arising from these issues and concerns Ø Enhance the credit/investment risk appraisal process Approach The following approaches have been used to enhance environmental risk management: Ø Banks should be able to ascertain risks arising out of environmental issues Ø The practice should be directed towards addressing the focused environmental problem that is causing the risks. It should not be used as a tool to solve problems in general Ø The practice needs to be value adding to the customer and should not be policing in nature...
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...and peaceful means .such peaceful means include the rights to freedom of expression ,association and movement and the right to take part in the conduct of public affairs. According to United Nations declaration of human rights defenders, state have the prime responsibility to take all the necessary steps to ensure the protection of those who defend human rights .although the declaration is not legally binding, it draws together provisions from other conventions and convents most relevant to human rights defenders that are legally binding. The right to freedom of speech and...
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...claim to have read the manuscript Of Changes and Transformations: Bangladesh Bank [July 2009-June 2013] highlighting changes the central bank has gone through in the past four years, but certainly had a cursory look at it. The publication of the book is of great significance at a time when the present government has just completed its four years in office. I welcome this initiative by Bangladesh Bank. I would like to thank Governor Dr. Atiur Rahman and others concerned with the project. The effort put in by the editors and their team of script writers to enrich the volume is certainly praiseworthy. I am extremely delighted to have the opportunity to write few words upon the book. Here I would like to touch upon the key aspects of the revolutionary changes that I have witnessed in Bangladesh Bank during the past four years. Firstly, digitization has taken place rapidly in the central bank and the whole banking sector was quick to follow suit. Secondly, mobile banking has been introduced and expanded significantly. This process will come its fruition with the introduction of PayPal payment system. Thirdly, revolutionary changes have taken place in CSR. Fourthly, Bangladesh Bank has achieved commendable success in financial inclusion program. Bangladesh Bank's role in involving the mass people into financial activities is undeniable. Finally, the establishment of Currency Museum is a great initiative of Bangladesh Bank. I would now like to say a few words on the economic condition...
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...Introduction In a country like Bangladesh, Small and Medium sized Enterprises (SME) plays a significant role in boosting up the overall health of the economy. Their contribution towards the economy includes generation of large scale employment, investment, improvement of indigenous skill and technology, promotion of exports and opportunities for entrepreneurship and innovativeness. Bangladesh has around 27,000 medium-sized enterprises and 150,000 small-sized enterprises (defined by the government of Bangladesh as registered enterprises). Different countries and organizations define SME’s in different way. The SMEs are defined on the basis of two criteria across the world: volume of turnover and number of person employed in a particular organization. Small firms cover a wide variety of firms ranging from the single proprietor business, independent business owners who employ a handful of workers. The central bank of Bangladesh defines any business having a “Net-Worth” of up-to Tk. 10 Million or number of employees between 10 to 50 persons as small and business having a “Net-Worth” between Tk. 10 to 100 Million, or employees between 50 to 100 persons as Medium enterprises (Ahmed at al, 2011) 1. The Government of Bangladesh has categorized SME into two broad classes: Manufacturing enterprise and Non Manufacturing activities. The International Consultancy Group (ICG) of the UK, in collaboration with the Micro Industries Development Assistance and Services (MIDAS), conducted in...
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...Transport Planning of Dhaka City: Some Contemporary Observations Adil Mohammed Khan; Assistant Professor; Department of Urban and Regional Planning; Jahangirnagar University; E-mail: adilmdkhan@yahoo.com Dr. Md Akter Mahmud; Professor; Department of Urban and Regional Planning; Jahangirnagar University; E-mail: aktermahmud@yahoo.com Abstract Traffic problem of Dhaka City is one of the major problems of the city that the city dwellers are facing in their everyday life. Despite all the planning programs and projects, designed by the successive governments, the situation is getting worse day by day. Hence, some underlying questions related to traffic and transport system of the Dhaka city are quite important here. Whether transport planning and management were given proper attention in the past years? What were the past planning efforts regarding transport and traffic in Dhaka city? Why these efforts have proved to be unsuccessful for better transport management of Dhaka city and what are the shortcomings of those plans? However, Strategic transport plan (STP) for Dhaka city has been approved in 2005 for an period of twenty years up to 2025. STP has proposed for installation of Bus Rapid Transit (BRT), Mass Rapid Transit (MRT) as a solution of transport problems of Dhaka City among ten alternative transportation strategies. This paper is an attempt to evaluate the existing plans and programs designed for efficient transport system of Dhaka city, to examine...
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