Budget for FY '11 passed
Thursday, 1 July 2010
The Appropriation Bill- 2010 was unanimously passed in the House Wednesday giving the authority of spending Tk 1998.73 billion from consolidated fund during 2009-2010 financial year for making necessary development and non-development expenditure of the government, reports BSS.
Finance Minister Abul Maal Abdul Muhith placed a proposal for enactment of the bill.
Ministers of concerned ministries placed justification of the expenditure through 53 demand for grants, which were passed on voice vote.
A total of 1,131 cut motions were proposed by opposition members but only an independent lawmaker spoke on four proposals. Later, the cut motions were rejected by voice vote.
Since other members of the opposition were absent at the House, their cut motions were not placed at the House.
With the adoption of the Finance Bill-2010 and the Appropriation Bill-2010 by the House, the process of passage of the national budget for the fiscal 2010-11 was completed on Wednesday.
Speaker Abdul Hamid then adjourned the parliament session until July 11.
He also called the opposition to join the session.
The parliament sat at around 11am and the budget session started on June 2. The BNP joined the first day of the budget session, but stayed away from the house since.
A total of 204 MPs took part in the discussion, which kicked off on June 15.
According to parliament secretariat sources, MPs discussed the budget for 38 hours and 44 minutes.
The parliament unanimously passed the Finance Bill-2010, which legalises all tax proposals made in the budget, on Tuesday.
The finance minister amended his proposed tax measures almost entirely in line with the recommendations of the prime minister.
He waived the 10 percent tax he had proposed earlier on government's saving certificates.
The bill included the implementation of government's financial proposals and amendments of some laws.
Finance Minister Abul Maal Abdul Muhith placed a proposal for enactment of the bill.
Ministers of concerned ministries placed justification of the expenditure through 53 demand for grants, which were passed on voice vote.
A total of 1,131 cut motions were proposed by opposition members but only an independent lawmaker spoke on four proposals. Later, the cut motions were rejected by voice vote.
Since other members of the opposition were absent at the House, their cut motions were not placed at the House.
With the adoption of the Finance Bill-2010 and the Appropriation Bill-2010 by the House, the process of passage of the national budget for the fiscal 2010-11 was completed on Wednesday.
Speaker Abdul Hamid then adjourned the parliament session until July 11.
He also called the opposition to join the session.
The parliament sat at around 11am and the budget session started on June 2. The BNP joined the first day of the budget session, but stayed away from the house since.
A total of 204 MPs took part in the discussion, which kicked off on June 15.
According to parliament secretariat sources, MPs discussed the budget for 38 hours and 44 minutes.
The parliament unanimously passed the Finance Bill-2010, which legalises all tax proposals made in the budget, on Tuesday.
The finance minister amended his proposed tax measures almost entirely in line with the recommendations of the prime minister.
He waived the 10 percent tax he had proposed earlier on government's saving certificates.
The bill included the implementation of government's financial proposals and amendments of some laws.