Muhith places amended budget in JS today
Tuesday, 16 March 2010
Finance Minister AMA Muhith places an amended version of the national budget along with progress report on its implementation uptil now in parliament today (Tuesday), reports UNB.
The Cabinet in its meeting Monday approved the framework of the revised budget and the advancement report on the first and the second phases of the national budget for the 2009-2010 fiscal year.
The cabinet meeting, held at Bangladesh Secretariat with Prime Minister Sheikh Hasina in the chair, also approved proposed amendment to the Stamp Act 1899 following which the stamp duty on transfer of land and property in rural areas increased by one per cent to bring parity between urban and rural rates.
From now on, during the handover of land or property both in urban and rural areas, 3.0 per cent stamp duty will have to be paid. Previously, in rural areas the rate of stamp duty was 2.0 per cent while it was 3.0 per cent in urban areas.
Briefing journalists after the meeting, Press Secretary to the Prime Minister Abul Kalam Azad said the Stamp Act had been amended to increase revenue collection.
Azad said, "During discussion on the advancement report and the probable amended budget, it was observed that country's present economic situation was better than ever before."
Since the budget was declared, investment has increased in the country while the government also has not taken much loan from the banks compared with previous years, the cabinet noted in the latest review of the economic health of the country.
The cabinet also approved The Jute (Amendment) Act 2010.
The council of ministers was apprised of the joint communiqué on Prime Minister Sheikh Hasina's recent India visit, Bangladesh Development Forum 2010 and Ministerial Conference of the least developed countries (LDCs) in Vienna under the auspices of UNIDO.
Several other agenda like giving awards to politicians, philosophers, intellectuals and artists of various countries for their historic role during the 1971 liberation war, ratification of the Rome Statute of International Criminal Court, Amendment of the Income Tax Ordinance 1984 were sent back. These agenda will be placed before the cabinet later.
The Cabinet in its meeting Monday approved the framework of the revised budget and the advancement report on the first and the second phases of the national budget for the 2009-2010 fiscal year.
The cabinet meeting, held at Bangladesh Secretariat with Prime Minister Sheikh Hasina in the chair, also approved proposed amendment to the Stamp Act 1899 following which the stamp duty on transfer of land and property in rural areas increased by one per cent to bring parity between urban and rural rates.
From now on, during the handover of land or property both in urban and rural areas, 3.0 per cent stamp duty will have to be paid. Previously, in rural areas the rate of stamp duty was 2.0 per cent while it was 3.0 per cent in urban areas.
Briefing journalists after the meeting, Press Secretary to the Prime Minister Abul Kalam Azad said the Stamp Act had been amended to increase revenue collection.
Azad said, "During discussion on the advancement report and the probable amended budget, it was observed that country's present economic situation was better than ever before."
Since the budget was declared, investment has increased in the country while the government also has not taken much loan from the banks compared with previous years, the cabinet noted in the latest review of the economic health of the country.
The cabinet also approved The Jute (Amendment) Act 2010.
The council of ministers was apprised of the joint communiqué on Prime Minister Sheikh Hasina's recent India visit, Bangladesh Development Forum 2010 and Ministerial Conference of the least developed countries (LDCs) in Vienna under the auspices of UNIDO.
Several other agenda like giving awards to politicians, philosophers, intellectuals and artists of various countries for their historic role during the 1971 liberation war, ratification of the Rome Statute of International Criminal Court, Amendment of the Income Tax Ordinance 1984 were sent back. These agenda will be placed before the cabinet later.