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Budget Speech 2021-2022 Bangladesh Towards a Resilient Future Protecting Lives And Livelihoods National Budget Speech 2021-2022 A H M Mustafa Kamal FCA, MP Minister Ministry of Finance Government of the People’s Republic of Bangladesh 20 Jaisthya 1428 03 June 2021 ii Table of Content Topic Page Chapter I Tribute Profound Respect and Gratitude to the Father of the Nation 1-2 Bangabandhu Sheikh Mujibur Rahman and all the martyrs in the independence war Chapter II Birth Centenary of Sheikh Mujib and the Golden Jubilee of Independence Celebration of the Birth Centenary of Bangabandhu Sheikh 3-14 Mujib and the Golden Jubilee of Independence; the position of Bangladesh in the field of economy Chapter III Graduating to the status of a developing country and the journey onward Bangladesh becomes eligibile for graduation into a 15-20 developing country; Post-graduation challenges as a developing country; Strategies to deal with the post- graduation situation Chapter IV COVID-19 Pandemic and Economic Recovery The impact of COVID-19 pandemic in Bangladesh; 21-25 implementation of fiscal packages for economic recovery from COVID-19 impact; Assistance from Development Partners to combat COVID-19 impact. Chapter V Perspective and Background: Global Economy and Bangladesh Global economic forecasts amid the COVID-19 pandemic; 26-28 Current economic position and the image of Bangladesh i Topic Page Chapter VI The Supplementary Budget The Supplementary Budget for the current FY 2020-2021; 29-30 Revised Revenue Income and Revised Expenditure; Revised Budget Deficit and its Financing Chapter VII Proposed Budget Structure of FY 2021-2022 Proposed Budget Structure of FY2021-2022; Reveune 31-33 Colleciton; Overall Expenditure Structure Chapter VIII Sectoral Strategies, Action Plans and Resource Mobilization Medium-Term Policy Strategy: implementation of 8th Five 34-98 Year Plan and priority of Bangladesh; Health and tackling the pandemic; Education: Primary and Mass Education, Secondary Education, Madrasha and Technical Education; Agriculture Sector: Fisheries and Livestock, Food Security; Employment Generation; Poverty Reduction and Social Safety Net Programmes; Local Government and Rural Development; Industrialization and Trade; Physical Infrastructure: Power and Energy; Communication infrastructure; Digital Bangladesh; Women Empowerment and Children Welfare; Climate change and Environment protection; Sports, Culture and Religion; Planned Urbanization and Housing Chapter IX Reform and Good Governance Accelerating Structural Transformation of the Economy; 99-108 Improving Investment Climate; Automation of Land Management; Implementation of E-Judiciary; Fighting Corruption; Reforms in Financial Sector; Public Financial Management; Improved public service ii Topic Page Chapter X Revenue Collection Activities Achievement in Revenue Collection; Digitisations of 109- Revenue Management; Modernazations of Customs; 112 Application of Information Technology Chapter XI Income Tax, Value Added Tax and Import-Export Duty Direct Tax: Income Tax, Tax rate and Tax free income ceiling; 113- Value Added Tax (VAT); Import-Export Duty-Taxes: 139 Agriculture Sector, Health Sector, Industry Sector, ICT Sector, Automobile Sector; Amendment of Customs Act, Amendment in First Schedule of Customs Act Chapter XII Progress in Implementation of Commitments Made in the Budget Progress in implementation of the commitments made to the 140- nation in the Budget FY 2020-2021 143 Conclusion Conclusion 144- 145 Annexure-A Table 1: Number of Beneficiaries under 23 Stimulus Packages Announced by the Government to Address the COVID-19 149 Fallout Table 2: State of Socio-economic Progress 151 Table 3: Progress in the Past Decade 151 Table 4: Supplementary Budget for FY2020-21 152 Table 5: Proposed Budget Structure for FY 2021-22 153 Table 6: Annual Development Programme (Sectoral 154 Allocation) for FY 2021-2022 Table 7: Sectoral Allocation in Budget 155 Table 8: Ministry/Division-wise Budget Allocations 157 iii Topic Page Annexure-B (List of table of import-export duty) Table 1: Agriculture Sector 161 Table 2: Health Sector 163 Table 3: Industry Sector 165 Table 4: Tariff Rationalization 172 i. Increase/decrease in duty and taxes 172 a) Reduction in CD 172 b) Increase in CD 173 c) Reduction in specific duty 173 d) Increase/decrease in regulatory duty 174 e) Increase/decrease/imposition/withdrawal of 174 Supplementary duty ii. Split/merge/creation of H.S. Codes and changes 175 made in description against some H.S. code a) H.S. Codes against which description has 175 been changed b) H.S. Codes that have been split 176 c) H.S. Codes which has been created 177 d) List of H.S. Code that has been Merged 179 e) List of H.S. Codes that has been created 180 f) Correction of Heading 87.04 180 g) Correction of Heading 87.11 181 h) List of H.S. Codes that has been abolished 182 iv National Budget of Bangladesh 2021-2022 Chapter One Tribute [In the name of Allah, The Most Gracious and The Most Merciful] [Blessed is He in whose hand is dominion, and He is over all things competent] Madam Speaker 01. I, A H M Mustafa Kamal, Finance Minister, seek your kind permission to place before this august House the Supplementary Budget for the fiscal year 2020-2021 and the proposed budget for the fiscal year 2021-2022. Madam Speaker 02. I begin my speech with profound respect and gratitude to the Father of the Nation Bangabandhu Sheikh Mujibur Rahman, the greatest son of the Bengalis, the dreamer of Golden Bengal, the greatest Bengali of all times, who instilled the desire of freedom in the minds of the Bengalis. We remember him as an immortal hero of the soil, who has been at eternal rest, under the shade of Hijal-Tamal trees at Tungipara, Gopalganj, whose name is emblemed in the flag of our victory; every letter of whose name represents our freedom, who broke thousand shackles, stood tall against all odds and resolutely prsued his ideals. 03. I remember with deep respect all the martyrs, including Shaheed Bangamata who sacrificed their lives in the fateful night of August 15, 1975. I am also remembering Bangabandhu's most trusted comrades, four national leaders who embraced martyrdom in the central jail. With 1 profound love and respect, I remember all those valiant heroes who dedicated their lives for the country during the movements starting from our self-determination to the independence war, for whose supreme sacrifice we are free today. I also remember those thirty lakh martyred freedom fighters and two lakh women who were brutally persecuted during the liberation war. I am remembering those whom we have lost prematurely during the COVID-19 pandemic. I pray to the Almighty for the salvation of all the departed souls. 2 Chapter Two Bangladesh's Position in the Field of Economy during the Birth Centenary of Sheikh Mujib and the Golden Jubilee of Independence Madam Speaker 04. It was 8.00 pm on March 17, 1920, Wednesday. The sound of Azan, the waves of Madhumati river, the chirping of birds and the song of spring could be heard all around. It is at this auspicious moment, Sheikh Mujibur Rahman, was born in the village of Tungipara in Gopalganj with his parents Sheikh Lutfur Rahman and Sheikh Sayera Begum. It is this man who materialised our thousand years of pursuit and emerged as the savior of liberation of humanity. He came to be known to as ‘Khoka’ (dear boy). His courage inspired millions of people of the Bengali nation, who in response to his clarion call came forward and won the war for liberation and created a history. The people of Bengal, therefore, conferred on him the title of Bangabandhu on 23 February 1969. Defying all odds he was at the forefront of the student movement, movement for fundamental rights of the people, the language movement, the six-point movement, the mass upsurge, and spent 4,682 days in jail. He had to endure inhuman torture and oppression, and gifted the long-subdued, oppressed and deprived nation an address, wrapped in red-green flag, an independent and sovereign Bangladesh, the name of a country which he himself had given. Thus he became the Father of the Nation, from Bangabandhu Sheikh Mujib. Madam Speaker 05. In the centenary of his birth, we as a nation are moving forward, following his footprint and the roadmap he laid down for our economic emancipation. The nation is celebrating his birth centenary, the Mujib Borsho. Bangabandhu and Bangladesh are inseparable. This year also marks the fiftieth anniversary of Bangladesh's independence - the golden 3 jubilee of our glorious independence being celebrated at home and abroad. The year is like the confluence of two great streams - an estuary of time. In this great estuary, another feather is added: we are graduating from the status of a Least Development Country to a Developing Country, a major achievement in the nation’s life. This year, in which we have earned three important milestones, will be considered, in the coming days, as the golden year in our nation’s history. Madam Speaker 06. Bangabandhu is not just a name, Bangabandhu is an ever-vigilant history. He represents an immeasurable pride - the most illumined treasure of our nationhood, - an immortal name embedded in our existence. A liberal, noble-hearted man as he was, he had always been vocal in upholding the just cause, truth, people’s welfare and self-determination. Not even a iota of narrowness, orthodoxy and communalism could touch him ever. At every stages of life, he dreamt of total liberation of the Bengalis. He had an immeasurable love for Bengalis and Bangladesh which he dreamt of and for which he spent much of his youthful times in jails, and sang the triumph of the Bengalis at the gallows. It is possible to measure the depth of sea or ocean, but his love for Bangladesh and Bengalis was immeasurable.
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