Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
The government is reviewing the economic situation of the country.
“With the preliminary symptoms, it seems that the country’s economic situation is moving towards improvement,” Finance Minister AH Mahmud Ali said while responding to a supplementary question from an independent lawmaker elected from Kishoreganj Sohrab Uddin in Parliament.
The minister hoped that in the next few days, the total scenario of the country’s economy would be clear.
In his question, Sohrab Uddin said that the country's economy is in turmoil due to the dollar crisis and money laundering.
“There is a need to allow undisclosed money to be legalised to face the money crisis due to money laundering,” he said.
He mentioned that this sort of opportunity was also provided in the past under special arrangements.
Sohrab Uddin wanted to know whether the government would give an opportunity to legalise undisclosed income through paying extra tax to prevent money laundering and eliminate the dollar crisis.
“However, it is not black money, but legal and undisclosed income,” said the independent MP.
In reply, the finance minister said that the government is reviewing the entire thing.
“Not only the black money, but the entire economic situation is under review. After seeing the initial symptoms, it seems that we are heading towards improvement. After a few more days, I will get a complete picture. Until then, please be patient,” he said.
In response to the written questions of the Independent Member elected from Kusthia-4, Abdur Rauf, Ali said that some 3.662 million people have submitted income tax returns in the country till January 2024.
In response to a question from another independent member of parliament, Hushamuddin Chowdhury, the finance minister said that the number of TIN holders across the country is 9.97 million.
“But some 3.662 million returns have been submitted and some Tk 59.01 billion was deposited in the national exchequer,” he said.
Ali, responding to a question from independent lawmaker Saiful Islam, said that some 56 projects are going on with the financial assistance of the World Bank.
In response to another question of his, the finance minister said that, as a result of the government's action, point-to-point inflation has started decreasing gradually since November 2023.
According to the latest data, point-to-point inflation stood at 9.41 per cent in December, while it was 9.74 per cent in June, he added.
Answering ruling party lawmaker Samil Uddin Ahmed Shimul's question, Ali said that 87.70 per cent of the target of revenue collection was achieved till December 2023 of the fiscal year 2023-24.
“During this time, the revenue collection was Tk 1.65 trillion. From the stamp duty, the collection was Tk 16.26 billion. The deficit is Tk 232.27 billion,” he said.
In response to a question from M Abdul Latif, an Awami League MP elected from Chattogram, the finance minister said that the Japanese government gave a financial assistance of $3.38 million in 2023 for the development of human resources in Bangladesh.
In response to a question from ruling party MP Mamunur Rashid Kiran, Ali said that a new return form and a one-page return form have been introduced to simplify the income tax return process.
He also mentioned that the TRP (Tax Return Preparer) programme will be introduced to simplify the return filing process.