Loans proposed for livestock business at a mere 5% interest rate
Staff Correspondent, bdnews24.com
Published: 2015-06-04 19:48:20.0 BdST Updated: 2015-06-05 00:10:14.0 BdST
The proposed budget for the 2015-16 fiscal has suggested loans at a mere five percent interest for business in livestock.
Finance Minister AMA Muhith presented his Tk 2.95 trillion national budget in Parliament on Thursday.
He proposed to allocate Tk 409.75 billion for the agriculture and rural development Sector.
“Bangladesh Bank will soon start a credit programme for development of livestock under which loan will be provided at 5 percent interest rate for purchasing and raising livestock," said Muhith.
“In order to achieve self-sufficiency in this sector, an initiative will be taken to implement a 3-year integrated programme,” he said.
“The kind of development witnessed in fisheries is not taking place in livestock sector. Although good progress has been made in the field of poultry, progress in livestock is lacklustre.”
He proposed that the government should take up projects on a pilot basis for this sector’s development considering the nutritional demand of the people.
Initiatives proposed for the sector also included production of vaccines for animals and birds, provision of medical treatment, species development through artificial insemination and provision of training for farmers.
The finance minister in his speech also announced that the overall agricultural research initiatives will continue.
Taxes on poultry, dairy and hatchery
Muhith proposed to reduce tax rate to three percent on income from poultry, poultry feed, dairy, shrimp, fish hatchery, mulberry, horticulture, pisciculture and apiculture.
Three percent tax rate has been proposed on the first Tk 1 million income, 10 percent on the next Tk 2 million and 15 percent on the balance.
Any unauthorised use or reproduction of bdnews24.com content for commercial purposes is strictly prohibited and constitutes copyright infringement liable to legal action.
- Commerce Minister Tofail hints at 'conspiracy' behind Dollar gaining against Taka
- Flash floods will not drive up rice prices, says food minister
- Banks asked not to take loan instalments from farmers in Haor areas
- IFC eager to invest in agriculture
- World Bank Group, China-led AIIB agree to deepen cooperation
- Akbar Ali Khan sees no sign of good governance in near future
- India 'relaxes' loan conditions for Bangladesh, Finance Minister Muhith says
- Muhith expects 7.5 percent growth in 2016-17 fiscal
- Bangladesh relies on BIMSTEC as SAARC fails: Gowher Rizvi
- Remittances to developing countries decline for second straight year: World Bank report
- Pakistan journalist Hamid Mir 'will return' his father's 1971 award to Bangladesh
- Oxford Union invites President Hamid but gets no response
- Australia will tour Bangladesh in late August, says BCB chief
- Police probe finds detectives acted 'unethically' in Kafrul club raid
- Tofail says foreign buyers single out Bangladesh’s labour safety issues
- Bangladesh Islamist groups plan new alliances for next election
- Chapainawabganj terror den: 3 bodies 'too mangled' for identification
- Five-year-old Sumaiya found after 24 days
- Indian SC’s ‘no’ to ration card will exclude 8m Bangladeshis from Assam’s NRC, says NGO
- Blame game between judiciary, executive will weaken state, warns Hasina