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Bangladesh: President Signs Fiscal Year 2008-09 Budget

(July 2, 2008) The National Budget of Bangladesh for fiscal year 2008-09 has been signed by the President of Bangladesh. The Bangladesh Government expressed hope that the new budget will increase production and reduce inflation and the deficit. In the approved budget, the tax exemption limit for individual taxpayers has been raised, with special consideration for women, persons with disabilities, and older taxpayers. The allowance for insolvent war veterans has been increased by fifty percent. The budget increases government grants for the salaries of non-government teachers and employees of schools and colleges by twenty percent. The budget also adjusts duties on imports to help domestic industries. (Ministry of Finance, Bangladesh Government, Bangladesh National Budget 2008-2009, available at