Revenue target for 2015-2016 is high, but achievable – Muhith | Greenwatch Dhaka | The leading online daily of Bangladesh

Revenue target for 2015-2016 is high, but achievable – Muhith


“The National Board of Revenue (NBR) has been prepared a work plan to achieve  the revenue target,” he said while addressing in the post budget press conference at Osmani Smriti Auditorium in the city.

Industries minister Amir Hossen Amu, agriculture minister Begum Matia Chowdhury, information minister Hasanul Haque Inu, planning minister AHM Mustafa Kamal, Bangladesh Bank Governor Dr Atiur Rahman, Senior Secretary, Finance Division Mahbub Ahmed, senior secretary of Economic Relations Division (ERD) Mohammad Mejbahuddin, and chairman of NBR Md. Nojibur Rahman.Muhith proposed to set a target for the NBR to collect Tk 176,370 crore revenue in the next fiscal.

Replying questions from reporters Muhith said that the high target to achieve 7 per cent GDP target.

Supplementing the reply of finance minister, chairman of National Board of Revenue (NBR) Md. Nojibur Rahman said they have enough capacity to collect Tk 200,000 crore revenue in fiscal 2015-2016.

Nojibor said the target is achievable as the efficiency improve the officials of NBR and increased the usages of information technology.

Besides, the acts of regarding NBR are favourable to achieve the revenue target as well as NBR is working closely with judiciary.

Responding another question Muith said the growth of taxpayers was slow, but the capability of NBR improved.

He further said during last six year the tax payers increased to 11 lakhs from 7 lakhs in 2008.

Finance minister defended the budget outlay for the proposed budget of FY 2015-16, saying that he drew a clear implementation strategy in his budget speech to achieve the fiscal target.

“I have given clear direction about the implementation strategy on various occasions in my budget speech. But, I don’t know why some people are skeptical about the matter,” he said.

Commenting on black money issue finance minister clarified that there is provision in the act regarding undisclosed money. So, there is no need to address the issue in the budget, he added.

About the budget implementation he also acknowledged that there slightly problem to implement the budget.

But we could implement at least 95 to 96 per cent of budgets  for last six years.

“We have achieved good progress in budget implementation.”

Amir Hossen Amu said the government has set an ambitious target of setting up 100 economic zones in the next 15 years.

Bangladesh cannot avail big investments from countries like Japan, China, South Korea and India for want of land.

To change this scenario, the government has recently approved establishment of 30 public and private economic zones across the country, he added.

Two economic zones have already been earmarked for Japanese and Chinese investors, he added.

India also has keen interest to establish such type of special economic zone, Amu said.

About the minimum tax the finance minister said the figure proposed in the budget for the tax payers in the city dwellers will remain unchanged but the other tax payers are under consideration to change.

Commenting on oil price adjustment with international market he said the government has a good number of credit regarding the oil import.

So they have to adjust with the loan and subsidy, he said.

About 5 per cent supplementary duty over all kind of mobile phone usages Muhith said the users have ability.

He however said they reduce the tax on SIM card to Tk 100 from Tk 300.

Mustafa Kamal hoped that the development outlay of Tk 97,000 crore is implementable with an equal expenditure in every quarter.

It has become a tradition of spending around half of the development budget in the first three quarters, but the pace accelerates in the fourth quarter and 40 to 45 per cent of the development outlay implemented in the last quarter, he said.

“But we are trying to get out of the practice and spend the total development outlay equally in every quarter, and if we can do it the annual development programme can be implemented,” he said – Staff Reporter


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