Tidbits: Proposed budget for FY23

Finance Minister AHM Mustafa Kamal has placed a Tk6,78,064 crore national budget for 2022-2023 fiscal year (FY23) at Jatiya Sangsad on Thursday.

Here are some of the tidbits from the proposals:

Digital currency proposed as alternative to Crypto

The Bangladesh Bank will carry out a feasibility study on the possibility of introducing digital currency as an alternative to Crypto Currency in Bangladesh, according to the proposed national budget for FY23 placed in the parliament on Thursday. The main purpose of launching Central Bank Digital Currency (CDBC) is to facilitate currency in virtual transactions and to encourage startups and e-commerce businesses.

Examining possibility of establishing digital banks

The government will examine the possibility of establishing digital banks to expand and accelerate financial inclusion, Finance Minister AHM Mustafa Kamal said while placing the national budget on Thursday. 

"Once digital banks are established, huge employment opportunities will be generated for young IT workers," he said during the budget proposal.

Advance tax exempted for aircraft import 

Finance Minister AHM Mustafa Kamal has proposed to exempt advance tax on aircraft imports.

"I propose to give Advance Tax exemption to import of aircraft by registered organisations," said the minister.

Divorce to get costlier 

Divorce is set to get expensive as the finance minister proposed to increase the divorce instrument duty in the new budget today.

According to sources in NBR, divorce registration requires paying Tk500 stamp duty currently. But the new budget proposes to increase the amount to Tk2,000.

The number of divorces has seen a steep rise in the capital, with more women - double the men - serving notices for breaking up, says official statistics.

A total of 7,245 divorce notices were served in 2021 in Dhaka South City Corporation. Of those, 5,183 were served by wives and 2,062 were served by husbands.