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More money needs to be spent on education to raise the standard of our education

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Budget 2022-23

Finance Minister AHM Mustafa Kamal has unveiled a Tk678,000 crore national budget for the 2022-2023 fiscal year. Young generation factory owners shared their opinion on proposed budget.

Faiaz Rahman, Director, Urmi Group

This year’s budget has been business friendly. Corporate tax has been lowered to 12%. Exporters of nontraditional items has been at par with RMG sector. This will encourage people to Invest more and create employment opportunity. Equal corporate tax of 12% for all exporters will attract FDIs.

Most challenging part of this budget is revenue, subsidy and fiscal deficit. Borrowing from banks will mop up liquidity from the banking sector which may restrict credit flow in the market. This may result slowing down our economy. Education has received only 1.83% of the budget. To my view more money needs to be spent on education to raise the standard of our education.

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