Tough times ahead for stock market

The proposed national budget for fiscal year 2024-25 may bring bad news for the country's stock market, as there are rumours that the government may place a tax on capital gain. 

According to a source at the National Board of Revenue, the budget to be placed in the parliament on Thursday (6 June) will propose placing 15 per cent tax on capital gain above Tk 50 lakh on a fiscal year. 

Finance Minister Abul Hassan Mahmood Ali is set to unveil a proposed Tk 7,96,900 crore national budget for fiscal year 2024-25 at Jatiya Sangsad (JS) on Thursday. It will be his maiden budget. 

This will be the country's 53rd budget and the 25th of the Awami League (AL) government in six terms.

The theme of the budget for the next fiscal year would be "Pledge towards building a happy, prosperous, developed and smart Bangladesh" in pursuit of turning the country's economy into its previous sound state.

Amid the global volatile condition and adversities, the finance minister is eying a 6.75 per cent GDP growth while containing the inflation at 6.50 per cent although the general point-to-point inflation is still hovering slightly below the double-digit mark albeit various efforts from the government to tame inflation.

Finance ministry officials said the possible budget size of Tk 7,96,900 crore would be 4.60 per cent or likely around Tk 35,115 crore higher than the budget of the outgoing fiscal year (FY24).