Bangladesh unveils Tk 5.23 trillion($62 billion) budget for FY2019-2020

[Khan_21]

Don't bring Pakistan India here we need to compare ourselves with Singapore Canada or south Korea .

There is no comparison with Canada or Korea. Probably behind by 100-150 years. India/Pakistan/BD are in the same bracket.

 

[fallstuff]

That's true. But don't you think we are long past the phase to be happy with "মন্দের ভালো"?

$1 billion is like a drop in the bucket. We need tens of billion to invest in real education & an effective healthcare system. This two should be atleast 15% of GDP each.

Universal pension, harvest insurance, machining the agri sector etc are mammoth task that will take big big money.

Universal pension will drain even a developed economy. This is not a time to get bogged down by big Liberal Plans. Big plans tend to have unintended consequences.

I believe harvest insurance exists in some capacity. There is a govt plan in the plans.

https://agroinsurance.com/en/bangladesh-giving-crop-insurance-a-chance/

 

[UKBengali]

Universal pension will drain even a developed economy. This is not a time to get bogged down by big Liberal Plans. Big plans tend to have unintended consequences.

I believe harvest insurance exists in some capacity. There is a govt plan in the plans.

https://agroinsurance.com/en/bangladesh-giving-crop-insurance-a-chance/

Yes but there is no harm in introducing an universal pension with the bulk of the revenue coming from the salaries of the private employees and the employers. Government already has a pension scheme for it's own employees.

This way most of the burden will be placed on employees and employers in the private sector. Government will then be in a position to provide stipends for those who somehow have nothing to fall back on in their retirement.

BD is totally different to most of Asia in that it believes in a socialist market economy, and by mid-century I can see a mixed economy like you have in places like Scandinavia now.

 

[Homo Sapiens]

Guys,

We need to be aware of the fact that the realised spending is likely to be around the 80% of the planned and so the amount spent next year is likely to be 50 billion US dollars. It will be interesting to see how much headway is made in tax receipts as the new VAT law finally comes into effect.

No, it would be more than 50 billion dollar. In the concluding fiscal year, proposed budget was 4.64 trillion Taka, which was revised at the end of year at 4.42 trillion Taka. Which is around 5 percent lower than initial proposed budget. With this trend, revised budget for this proposed 62 billion dollar will be around 58-59 billion dollar at the end.

 

[Zee-shaun]

Pakistan budget 46 billion and we have 62 billion...

Wow, Pakistan must be the center of the univers for you Bangladeshi's.
How come only 5 people thanked this post? Come on guys be patriotic and show your hatred and inferiority complex against Pakistan. Thank that post.

 

[Bilal9]

bangladesh take care of your civilians so that the bangals stop arriving illegally in North East India en masse .

Your off topic troll-bait post has been reported.

How can any lowly illegal aliens claim anything as their own ?The reason the aliens even enter is bc cow modi lets them ,atleast for the time being.

Why would you compare the state budget to the national budget of a country when a nation has many leeways for borrowing money while internally suffering massive budget deficit near the year end appraisal? BD's external debt has already increased to 33.11 billion usd last year.Actually NE india's population is 1/4th of bangladesh , where as after including all the gov schemes and investment project NE region's state budget combined is 2/5 of BD. One can draw the conclusion which in these are in a more dire situation.

In the end ,NE india is pristine,safe for woman,no scammer or beggars loitering on the streets ,no slums, cleaner , progressive in outlook .

Please stop posting off-topic troll posts. Your posts have been reported to the mods.

 

[fallstuff]

Yes but there is no harm in introducing an universal pension with the bulk of the revenue coming from the salaries of the private employees and the employers. Government already has a pension scheme for it's own employees.

This way most of the burden will be placed on employees and employers in the private sector. Government will then be in a position to provide stipends for those who somehow have nothing to fall back on in their retirement.

BD is totally different to most of Asia in that it believes in a socialist market economy, and by mid-century I can see a mixed economy like you have in places like Scandinavia now.

If you introduce universal pension now without a revenue stream to fund it with budget deficit, it will basically bankrupt the country with a present deficit of 5%.
You can introduce something similar to Social Security and Medicare in USA, where the Govt takes 7.65% of the pay from employee and and an additional 7.65% from employer to fund pension and healthcare at retirement. The problem will be with unreported income at small businesses. You have to assign employer identification number unless there is a system currently in place.

 

[TopCat]

If you introduce universal pension now without a revenue stream to fund it with budget deficit, it will basically bankrupt the country with a present deficit of 5%.
You can introduce something similar to Social Security and Medicare in USA, where the Govt takes 7.65% of the pay from employee and and an additional 7.65% from employer to fund pension and healthcare at retirement. The problem will be with unreported income at small businesses. You have to assign employee identification number unless there is a system currently in place.

It could be a voluntary program with participation from employees themselves. Govt may contribute to the fund. it will certainly not a universal pension scheme.

 

[UKBengali]

No, it would be more than 50 billion dollar. In the concluding fiscal year, proposed budget was 4.64 trillion Taka, which was revised at the end of year at 4.42 trillion Taka. Which is around 5 percent lower than initial proposed budget. With this trend, revised budget for this proposed 62 billion dollar will be around 58-59 billion dollar at the end.

That is good to hear.

 

[Arthur]

Universal pension will drain even a developed economy. This is not a time to get bogged down by big Liberal Plans. Big plans tend to have unintended consequences.

I believe harvest insurance exists in some capacity. There is a govt plan in the plans.

https://agroinsurance.com/en/bangladesh-giving-crop-insurance-a-chance/

I don't think gov. is keen on those ideas either. There plan most probably would be reforming provident funds, uniform & formalise it to all sectors.

I don't think gov. would contribute other than just managing the fund & make sure it's being invested wisely. If invested wisely, the return should be enough to provide people with a good retirement package.