The national parliament rolled out the national budget worth ($67.5-billion) for its next fiscal year ith a prime focus on maintaining economic stability and augmenting steps to materialise the government's "Smart Bangladesh" vision, an electoral pledge by Bangladesh Awami League to transform the country into a developed one by 2041. The budget aims to boost the country's economy to its former strength, with the theme "pledge towards building a happy, prosperous, developed and smart Bangladesh. According to Honourbale Prime Minister Sheikh Hasina, this budget was designed with the current global situation in mind, aiming to progress conservatively while fulfilling people's fundamental rights. Since Awami League was voted to power in 2009, under the able leadership of Awami League president Sheikh Haisna, Bangladesh has seen a golden decade of development.
The latest budget has included enough measures to rein in inflation which has been persistently rising, says agricultural economists. The government has reduced its development budget and cut corporate taxes as well as the source tax on essential products. The government also plans to impose taxes on cars imported by members of parliament, install electronic fiscal devices (EFDs), and make proof of return submissions compulsory for businesses while taking or renewing licences.
In light of substantial progress in poverty alleviation and employment due to the government's multi-pronged interventions, this current budget for new fiscal marked a rise in the social safety net schemes. As part of Awami League’s vision to make rid the country of poverty and hunger, Honorbale Party president Sheikh Hasina inaugurated the G2P system for electronic payment of allowances to beneficiaries within the social safety net on January 14, 2021. Now allowances are being distributed to a total of 11,531,567 beneficiaries through the G2P system, thanks to Honourbale Prime Minister (HPM) Sheikh Hasina. Moreover, the number of disability allowance recipients will be increased from the current 2.9 million to 3.2 million. Besides, stipends for students with disabilities will be raised also. Of 115 social safety net programs, 34 are cash-based, and 19 of these programs are currently disbursing funds directly to beneficiaries' bank accounts or mobile banking accounts via the G2P system.
Thanks to the latest budget, farmers will get fertilizer, seed and other inputs and irrigation facilities at affordable prices to increase crop production and productivity. The government is providing subsidies to the farmers for the supply of required fertilizers at affordable prices. A total of 20% rebate on electricity bills is provided for the electricity use for irrigation pumps. An increase has been marked in the cultivation of high-yielding varieties of crops. As Awami League prioritizes agriculture sector for last fifteen year , Bangladesh ranks 3rd in fish production in inland open reservoirs and 5th in closed reservoirs. Besides, Bangladesh ranked 8th and 11th in the production of speciality marine and coastal crustaceans and finfish respectively.
As education has been a key priority for the party, the education sector of the country has marked a rise with more steps to be taken to make the system for the better and accessible to the children. Since voted to power, this Awami League led government has introduced a raft of measures that yielded real and measuerable gains with significant reduction in droop out rate and a remarkable rise in intake rate. Free making education free for girls to introducing meal system for the students are some notable achievements overseen by Awami League lauded by the international community.
According to the Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI), the 53rd National Budget for 2024-2025 amidst global economic challenges and regional conflicts, aims to support the Smart Bangladesh framework and the nation's development goals by 2026. MCCI supported the extension of tax exemptions for IT-enabled services until 2027, reducing tariffs on electric vehicles, and proper disposal of used batteries. The business platform endorsed initiatives for a "Cashless Bangladesh," digital banking, and land management to promote a Smart Bangladesh, a vision pledged by Awami League to make Bangladesh a developed nation by 2041.
A process in underway to appoint 10,000 more midwives gradually to ensure better healthcare for mothers and newborn babies. “In 2010 at a programme in the United Nations headquarters, I pledged to recruit 30,000 midwives. In continuation of that the government has been able to appoint 20,000 midwives. The remaining will be appointed gradually,” announced HPM Sheikh Hasina. With 14000 community clinics operational across the country, the country adopted the National Population Policy 2012, incorporating 15 core principles of the ICPD Program of Action (PoA) into practical implementation following Awami League’s return to power. Extensive programmes were launched to reduce maternal and neonatal mortality rates, provide healthcare services to mothers and newborns, and offer reproductive health services to adolescents. The latest budget also witnesses a rise in the allocation.
A recent visit by HPM sheikh Hasina has ushered in fresh impetus in the already growing India Bangladesh ties. During her visit, both countries signed 10 memorandum of understanding (MoUs) including the renewal of three previous deals following the meeting of honourable prime ministers of both countries. The seven new MoUs include MoU on the Field of Blue Economy and Maritime Cooperation in the Bay of Bengal and India Ocean Region; MoU between Bangladesh Oceanographic Research Institute (BORI) and Council of Scientific and Industrial Research (CSIR) of India for Joint Research on Oceanography of the Indian Ocean and Capacity Building; MoU on Rail Connectivity; and two separate shared vision of India Bangladesh Digital Partnership and shared vision of India Bangladesh Green Partnership for a Sustainable Futur.


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