BUS203 One Page Write Ups

Submitted by
Neehal Islam Dastagir
Student ID - 18204069

Business Environment (BUS203)

Section: 3
Fall 2020

BRAC Business School

Date of Submission – 20th December 2020
 Assignment 1
Industrial Revolution
Industrial Revolution, in modern history, the process of change from an agrarian and handicraft
economy to one dominated by industry and machine manufacturing. The Editors of Encyclopedia
Britannica (2018) it started in Britain first then spread to the world from there in the 18th century.
Industrial Revolution was commonly used to describe Britain’s economic development in the
past. The main features involved in the Industrial Revolution were technological, socioeconomic,
and cultural. The technological changes included the use of new basic materials, chiefly iron and
steel, the use of new energy sources, including both fuels and motive power, such as coal, the
steam engine, electricity, petroleum, and the internal-combustion engine, the invention of new
machines, such as the spinning jenny and the power loom that permitted increased production
with a smaller human effort, a new organization of work known as the factory system, which
entailed increased division of labour and specialization of function, important developments in
transportation and communication, including the steam locomotive, steamship, automobile,
airplane, telegraph, and radio, and the increasing application of science to industry. These
technological changes made possible a tremendously increased use of natural resources and the
mass production of manufactured goods. The Editors of Encyclopedia Britannica (2018)
However there were other changes too, such as in agriculture, which were needed to meet
demand for food for a larger population, there were economic changes which redistributed
wealth, there was international trade and political changes. The growth of cities was a result of
the industrial revolution among other social changes. Workers acquired new skills and
knowledge required in the new age also. Specifically, if we talk about the first industrial
revolution - In the period 1760 to 1830 the Industrial Revolution was largely confined to Britain.
Aware of their head start, the British forbade the export of machinery, skilled workers, and
manufacturing techniques. The British monopoly did not last forever as eventually those
developments were transferred outside Britain. The Editors of Encyclopedia Britannica (2018)
There was proof of a new Industrial Revolution in the late 19th and 20th centuries. In terms of
basic materials, modern industry began to exploit many natural and synthetic resources. Lighter
metals, new alloys, and synthetic products such as plastics, as well as new energy sources.
Combined with these were developments in machines, tools, and computers that gave rise to the
automatic factory. This revolution developed the world even further. The Editors of
Encyclopedia Britannica (2018) These soon led to the assembly line being invented. Soon these
lead to the purchase to stock, the creation of big companies etc.
Reference:
The Editors of Encyclopedia Britannica (2018). Industrial Revolution | Definition, Facts, &
Summary. In: Encyclopædia Britannica. [online] Available at:
https://www.britannica.com/event/Industrial-Revolution.
 Assignment 2
Differences between Business analytics and Data Analytics
Both Business Analytics and Data analytics have purposes in an organization. Business Analytics
is the process by which businesses use statistical methods and technologies for analyzing
historical data in order to gain new insight and improve strategic decision-making.
www.omnisci.com. (n.d.). Business analytics help businesses make logical commercial
decisions, helping them increase their profitability, boost market share and revenue, and gain a
better return on investments. Quantzig. (2018). It enhances the operational efficiency of several
departments in a business by helping decision makers understand available primary and
secondary data more comprehensively. It also helps businesses to make data-driven, informed
decisions, and learn from their past mistakes which gives them a competitive edge over other
rivals. It helps businesses convert data into useable information for decision making. Quantzig.
(2018).
On the other hand, Data analytics is the science of analyzing raw data in order to make
conclusions about that information. Many of the techniques and processes of data analytics have
been automated into mechanical processes and algorithms that work over raw data for human
consumption. Frankenfield, J. (n.d.). Businesses also use it to inform their decisions. Data
analysis can help companies better understand their customers, evaluate their ad campaigns,
personalize content, create content strategies and develop products. Ultimately, businesses can
use data analytics to boost business performance and improve their bottom line. Lotame. (2019).
This can result in improved marketing as businesses understand their customers better, also this
can improve customer service. Data analytics include Artificial Intelligence, Machine learning,
predictive analysis, data mining and management which can be used in scientific fields for
research. Both business analytics and data analytics involve working with and manipulating data,
extracting insights from data, and using that information to enhance business performance.
Business analytics focuses on the larger business implications of data and the actions that should
result from them, such as whether a company should develop a new product line or prioritize one
project over another. The term business analytics refers to a combination of skills, tools, and
applications that allows businesses to measure and improve the effectiveness of core business
functions such as marketing, customer service, sales, or IT.
For their purpose - Data analytics involves combing through massive datasets to reveal patterns
and trends, draw conclusions about hypotheses, and support business decisions with data-based
insights. Data analysis attempts to answer questions such as, “What is the influence of location
factors on customer preferences for a restaurant?” or “What is the likelihood a customer will
choose competitors over us?”. Talend Real-Time Open Source Data Integration Software. (n.d.).
For business analytics, their purpose is interesting. We can say that Business Analytics helps
businesses increase their productivity and efficiency while Data analytics helps businesses work
with data, and make sense of the data to draw conclusions and make decisions. The main
difference lies in what they do with the data. Business analysts use data to help organizations be
more effective. In contrast, data analysts are more interested in gathering and analyzing data for
the business to evaluate and use to make decisions on their own. Northeastern University
Graduate Programs. (2020)
As a future manager, these two will increase my efficiency in my work, I will have the power to
make businesses processes internally more efficient, accurate and fast with Business analytics for
example simplifying accounting and business communications while with Data Analytics I will
be able to make sound decisions on things like Marketing Research, Customer Data, Competitor
data, product improvements and finding out market conditions and what customers actually like.
My work will only improve and become more accurate and efficient with Business and Data
Analytics as I will be able to deliver more relevant products and advertising, I could easily
analyze and mitigate risks and I could personalize the service according to customer or improve
customer service in general. Other than that I will be able to generate more revenue arising from
lower costs, operational efficiency and more informed decision making. So these will affect my
work in a great and beneficial way in the future.
Reference:
www.omnisci.com. (n.d.). What is Business Analytics? Definition and FAQs | OmniSci. [online]
Available at: https://www.omnisci.com/technical-glossary/business-analytics#:~:text=Business
%20Analytics%20is%20the%20process.
Quantzig. (2018). Importance of Business Analytics, Advantages of Business Analytics | What is
Business Analytics. [online] Available at: https://www.quantzig.com/blog/importance-business-
analytics#:~:text=of%20business%20analytics.-.
Frankenfield, J. (n.d.). How Data Analytics Work. [online] Investopedia. Available at:
https://www.investopedia.com/terms/d/data-analytics.asp#:~:text=Data%20analytics%20is
%20the%20science.
Lotame. (2019). What Is Data Analytics? - 4 Ways to Use Data Analytics. [online] Available at:
https://www.lotame.com/what-is-data-analytics/#:~:text=Data%20Scientists%20and
%20Analysts%20use.
Talend Real-Time Open Source Data Integration Software. (n.d.). Business Analytics vs. Data
Analytics: Which is Better? | Talend. [online] Available at:
https://www.talend.com/resources/business-analytics-vs-data-analytics/.
Northeastern University Graduate Programs. (2020). Data Analyst vs. Business Analyst: What’s
the Difference? [online] Available at: https://www.northeastern.edu/graduate/blog/data-analyst-
vs-business-analyst/#:~:text=Data%20analytics%20involves%20analyzing%20datasets.
 Assignment 3
Big Data
Big Data is a collection of data that is huge in volume, yet growing exponentially with time. It is
a data with so large size and complexity that none of traditional data management tools can store
it or process it efficiently. Big data is also data but with huge size. Guru99 (2019). Big Data can
be structured, unstructured and semi-structured. Data overall is growing over the years, set to
reach 78 yottabytes by 2030. Volume, Variety, Velocity & Variability can be used to describe
Big Data. There will be many benefits organizations will be able to take advantage of using Big
Data. Big Data will change the way organizations use information, and powerful supercomputers
and complex algorithms might be required to run and process such data. SAS (2018).
My work as a manager or business owner will be impacted by Big Data. The importance of big
data doesn’t revolve around how much data an organization has, but what the organization does
with it. As a business owner I can take data from any source and analyze it to find answers that
enable cost reductions, time reductions, new product development and optimized offerings, and
smart decision making. I will combine big data with high-powered analytics to accomplish
business-related tasks such as determining root causes of failures, issues and defects in near-real
time. I will be generating coupons at the point of sale based on the customer’s buying habits. Big
Data will help me recalculate my entire risk portfolios in minutes. It will also help me in
detecting fraudulent behavior before it affects my organization. SAS (2018). There will be more
benefits, businesses can utilize outside intelligence while taking decisions, improved customer
service, also access to social data from search engines and sites like Facebook, twitter are
enabling organizations to fine tune their business strategies this will occur on a larger scale in the
future. I must note that traditional customer feedback systems are getting replaced by new
systems designed with Big Data technologies. In these new systems, Big Data and natural
language processing technologies are being used to read and evaluate consumer responses.
Utilizing Big Data technology will be a key element in maintaining efficiency of operations for
me as a business owner. I will have to learn and figure out how best to apply these technologies
in my business for maximum benefits and profitability. Guru99 (2019).
Reference:
Guru99 (2019). Introduction to BIG DATA: What is, Types, Characteristics & Example. [online]
Guru99.com. Available at: https://www.guru99.com/what-is-big-data.html.
SAS (2018). What is Big Data and why it matters. [online] Sas.com. Available at:
https://www.sas.com/en_us/insights/big-data/what-is-big-data.html.
 Assignment 4
Machine Learning vs. Deep Learning

Machine learning is an application of artificial intelligence (AI) that provides systems the ability
to automatically learn and improve from experience without being explicitly programmed.
Machine learning focuses on the development of computer programs that can access data and use
it learn for themselves. Expert.ai. (2020).
Deep Learning, on the other hand, is just a type of Machine Learning, inspired by the structure of
a human brain. Deep learning algorithms attempt to draw similar conclusions as humans would
by continually analyzing data with a given logical structure. To achieve this, deep learning uses a
multi-layered structure of algorithms called neural networks. Oppermann, A. (2020).
The differences between them are that with Machine learning, we manually have to select inputs
like pictures to train the machine learning model. The model references those pictures to classify
new pictures. We also need to follow a specific workflow, extract relevant images to create a
model which describes the object we are training the machine to identify. If I don’t have a high
performance GPU or a lot of data, machine learning is more preferred. There is more choice in
machine learning as I identify and choose models and specific features to extract and can also
choose a combination of approaches like different classifiers to see which arrangement works
best. It also takes lesser time than deep learning. On the other hand, with Deep learning we skip
the manual work, we basically feed images directly into the deep learning algorithm, which then
predicts the object. It is more direct and complex. If I have a high performance GPU and a lot of
data, deep learning is preferred. Deep learning needs more data input to get accurate relevant
results or output. Deep learning is highly accurate, a lot of things are already learned but the
model might take a lot of time to train and is hard to debug. Many parameters will be chosen by
humans also so they will be responsible for it.
In the future, there will be many applications. For machines the applications will be in - Image
Recognition, Voice Recognition, Predictions, Videos Surveillance, Social Media Platform, Spam
and Malware, Customer Support, Search Engine etc. Most of the organizations are using
applications of machine learning and investing in it a lot of money to make the process faster and
smoother. It is one of the widely used and adopted language or technology in today’s world. One
example could be autonomous drone delivery system could also develop which may benefit
companies like Amazon. EDUCBA. (2018).
The applications of Deep Learning include Self Driving Cars which could benefit companies like
Uber. News Aggregation and Fraud News Detection, Natural Language Processing, Virtual
Assistants, Entertainment, Visual Recognition, Fraud Detection, Healthcare, Adding sounds to
silent movies, Automatic Machine Translation, Automatic Handwriting Generation, Language
Translations, Pixel Restoration, Photo Descriptions – Companies like Instagram might start
suggesting you captions for photos and more. Chatterjee, M. (2019).
Some expertise and knowledge, skills will be required to deal and work with technologies like
these. Skills in computer science and programming, mathematics and statistics, data science,
deep learning, and problem solving are required. October 4, A.D.R. in A.I. on, 2018 and Pst,
7:54 Am (n.d.).

Reference:
Expert.ai. (2020). What is Machine Learning? A definition - Expert System. [online] Available
at: https://www.expert.ai/blog/machine-learning-definition/.
Oppermann, A. (2020). What is Deep Learning and How does it work? [online] Medium.
Available at: https://towardsdatascience.com/what-is-deep-learning-and-how-does-it-work-
2ce44bb692ac.
EDUCBA. (2018). Uses Of Machine Learning | List of Top 10 Uses Of Machine Learning.
[online] Available at: https://www.educba.com/uses-of-machine-learning/ [Accessed 20 Dec.
2020].
Chatterjee, M. (2019). 20 Deep Learning Applications in 2021 Across Industries. [online]
GreatLearning. Available at: https://www.mygreatlearning.com/blog/deep-learning-applications/
[Accessed 20 Dec. 2020].
October 4, A.D.R. in A.I. on, 2018 and Pst, 7:54 Am (n.d.). How to become a machine learning
engineer: A cheat sheet. [online] TechRepublic. Available at:
https://www.techrepublic.com/article/how-to-become-a-machine-learning-engineer-a-cheat-
sheet/#:~:text=Generally%2C%20machine%20learning%20engineers%20must [Accessed 20
Dec. 2020].

Assignment 5
Trade Blocs – Bangladesh
Trading blocs are usually groups of countries in specific regions that manage and promote trade
activities. Trading blocs lead to trade liberalization (the freeing of trade from protectionist
measures) and trade creation between members, since they are treated favorably in comparison to
non-members. tutor2u. (2013). Bangladesh is a member of many trade blocs, some significant
ones are SAARC(Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and
Sri Lanka), SAFTA(Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri
Lanka), BCIM(Bangladesh, China, India and Myanmar) and BIMSTEC(Bangladesh, Bhutan,
India, Myanmar, Nepal, Sri Lanka, and Thailand). tutor2u. (2013).
There are many benefits to joining a trade agreement. For SAAFTA, among its aims are:
promoting and enhancing mutual trade and economic cooperation by eliminating barriers in
trade, promoting conditions of fair competition in the free trade area, ensuring equitable benefits
to all and establishing a framework for further regional cooperation to expand the mutual
benefits of the agreement. Bangladesh being a member will enjoy some if not all of these
benefits. There will be reduction of tariffs for intra-regional trade among SAARC countries,
however services and investment are not part of the agreement which is a disadvantage to note.
The Financial Express. (2005).
We can see SAAFTA plays a role in the exports and imports of Bangladesh however problems
like road connectivity, transit exist, if these problems can be tackled, Bangladesh could have
more trade. The more export will mean more foreign currency, and let us have a good balance of
trade. Also the imports make consumers in Bangladesh have more choice and improve our
standard of living. Trade will generally encourage more spending and rising GDP.
SAARC provides a platform for the peoples of South Asia to work together in a spirit of
friendship, trust and understanding as claimed in their website. It aims to promote the welfare of
the people of South Asia and to improve their quality of life by accelerating economic growth,
social progress and cultural development. www.internationaldemocracywatch.org. (n.d.).
Being a SAARC member Bangladesh is allowed to participate in trade fairs & exhibitions,
develop business through new buyers, and be a part of business delegation at international
forums. These mean Bangladesh has an opportunity to explore new trade deals, expand trade,
and form networks - to interact with other members, institutions, state & central governments
and will also get Visa Facilitation from SAARC, to grow business further.
www.saarcchamber.org. (n.d.).
For BIMSTEC, the benefits include interconnectivity between the BIMSTEC member states
through rail network, road and coastline can help by generating employment, communication and
economic activity. Shorter and cheaper trade routes among the countries can allow free
movement of goods and with a huge population total, the impact of trade can be extraordinary
and mutually beneficial. Express, T.F. (n.d.). Prime Minister Sheikh Hasina in her speech at the
inaugural session stressed cooperation in free trade, investment and energy to meet people's
demands in the region. She has already started to pursue, so this should benefit Bangladesh in
term of trade if developments are made further. Express, T.F. (n.d.).
Moving on to The BCIM, it envisages greater market access for goods, services and energy,
elimination of non-tariff barriers, better trade facilitation, investment in infrastructure
development, and joint exploration and development of mineral, water, and other natural
resources. Wikipedia. (2020). BCIM Economic Corridor.
So to conclude, trading blocs will lead to imports and exports for Bangladesh which is highly
beneficial for Bangladesh. There were opportunities for road connectivity, rail links these could
all benefit trade and transport. Visa processes and complications could disappear. Domestic
companies in Bangladesh could export to other members in the trading bloc also they could
import raw materials not available in Bangladesh for cheaper which could reduce costs. These all
jointly will mean a better livelihood, standard of living for Bangladeshis and a rising GDP which
will help Bangladesh grow and develop so yes Bangladesh does enjoy benefits from these
trading blocs and without them Bangladesh wouldn’t have reached the point it is at now but I
believe there is potential to trade more with member countries to reach higher gains.
Reference:
tutor2u. (2013). tutor2u. [online] Available at: https://www.tutor2u.net/business/reference/what-
is-a-trading-bloc.
The Financial Express. (2005). What is Safta What are its benefits. [online] Available at:
https://www.financialexpress.com/archive/what-is-safta-what-are-its-benefits/159142/
#:~:text=Among%20its%20aims%20are%3A%20promoting [Accessed 20 Dec. 2020].
www.internationaldemocracywatch.org. (n.d.). South Asian Association for Regional
Cooperation. [online] Available at:
http://www.internationaldemocracywatch.org/index.php/south-asian-association-for-regional-
cooperation-.
www.saarcchamber.org. (n.d.). Benefits & Incentives for Members. [online] Available at:
https://www.saarcchamber.org/index.php?
option=com_content&view=article&id=365&Itemid=450.
Express, T.F. (n.d.). Reaping benefits from BIMSTEC initiatives. [online] The Financial
Express. Available at: https://www.thefinancialexpress.com.bd/views/reaping-benefits-from-
bimstec-initiatives-1535990570#:~:text=Interconnectivity%20between%20the%20BIMSTEC
%20member [Accessed 20 Dec. 2020].
Wikipedia. (2020). BCIM Economic Corridor. [online] Available at:
https://en.wikipedia.org/wiki/BCIM_Economic_Corridor#:~:text=The%20BCIM%20envisages
%20greater%20market [Accessed 20 Dec. 2020].

Assignment 6
Fast Track Projects
For Bangladesh, there are some projects that are being fast tracked. The 2400 MW Rooppur
Nuclear Power Plant, the 1320 MW Rampal Power project and metro rail are progressing fast.
The Daily Star. (2020).
Work of the much-anticipated Padma Bridge was going on in full swing after issues over some
of the piers has been addressed, as of December 2020, the bridge has been completed. Floating
LNG Terminal in Maheshkhali, one of the ten fast-track projects, has also been completed.
While work of the 1200 MW coal-fired power plant in Matarbari of Maheshkhali has had
significant progress. The country’s first-ever metro rail will be able to start operation on
December 16, 2021, when the nation celebrates its golden jubilee of independence. The Daily
Star. (2020). Originally, the project’s implementation period was 2012-2024 but the government
fast tracked it. Now, the entire part (the 20km) will be operational within 2021. There is a fast
track committee task force and our PM might add more projects to this list in the future. Express,
T.F. (n.d.). Other fast rack projects include Payra Deep Sea port and Chittagong-Cox’s Bazar
Rail line. The Daily Star. (2020).
When these projects are completed, it is highly likely that there will be an economic boost.
Reliable infrastructure plays a key role in economic growth and this will be achieved with the
MRT line in Dhaka, the Padma Bridge and Chittagong-Cox’s Bazar Rail line. Studies have found
positive relationship between infrastructure and economic output in many countries. There are
many business opportunities like gross domestic capital formation, employment, trade and
human capital. Good infrastructure enhances productivity and improves competitiveness of a
nation. There is enough evidence that infrastructure and output are mutually beneficial. The
Padma Bridge is estimated to increase the GDP of the country by more than one percent as the
bridge will be used as economic corridor. This will create opportunities for employment and
income. Supply chains will have better interconnectivity. People of the south-western parts of
Bangladesh are also expected to have better access to education, healthcare and other services.
The toll for the bridge will also generate income and help cover the costs, so this might be a new
business opportunity, similar things can be said about the revenue generated from sale of tickets
for the Metro Rail and new rail link in Chittagong. The Daily Star. (2020).
For all the power plants in construction, this will ensure there is ample electricity for
Bangladesh, so power cuts will become a thing of the past. The nuclear power plant will also
provide clean energy. There might be enough electricity to export also depending on production
levels, this will be a new business opportunity. The floating LNG terminal might have another
business opportunity in selling natural gas both domestically and internationally. Expanding
access to diverse and abundant sources of natural gas supply will allow locals to flourish and
provide a net economic benefit for the Bangladesh many years from now. Excelerate Energy.
(n.d.). All in all, there will be many new business opportunities, some will be linked directly like
the toll/ticket revenue, or the reduced costs and time for businesses using these new
infrastructure or the tourism industry who will now have new routes or indirectly like the
growing trade, finding new markets and increasing GDP from using these infrastructure.
Reference:
The Daily Star. (2020). Padma Bridge and the pursuit of inclusive growth. [online] Available at:
https://www.thedailystar.net/opinion/macro-mirror/news/padma-bridge-and-the-pursuit-
inclusive-growth-2010893 [Accessed 20 Dec. 2020].
Express, T.F. (n.d.). PM to assess 10 “fast-track” projects Sunday. [online] The Financial
Express. Available at: https://www.thefinancialexpress.com.bd/trade/pm-to-assess-10-fast-track-
projects-sunday-1579147674 [Accessed 20 Dec. 2020].
Excelerate Energy. (n.d.). Moheshkhali Floating LNG Terminal. [online] Available at:
https://excelerateenergy.com/project/moheshkhali-floating-lng/ [Accessed 20 Dec. 2020].

Assignment 7
Made in the World
Since ideas flow throughout the world and are exchanged many times around the world, we can
say that some inventions were only possible because of cumulative efforts of some if not many
nations and people. For example Samsung is a Korean company, but many of their parts for
smartphones, specifically the Samsung Galaxy A50, are manufactured in Vietnam, then the parts
are shipped to Bangladesh and the phone is assembled there. If we consider every raw material
used to make the parts initially, there might be more countries involved so therefore it is made in
many nations and we can say it was made in the World.
With the current context of COVID-19, I believe the free flow of ideas will prevail. Although
people are not meeting physically, many expos, conferences, and other networking events are
happening online. There is already a huge library of ideas, knowledge and information which are
just a Google Search away so I do not thing COVID-19 will stop the flow of ideas. In a work
environment, many operations are still going on, employees are communicating using Whatsapp,
Messenger and other apps, therefore ideas are not being on hold. Schools and universities,
classes are being conducted online so ideas are flowing just online and not in physical spaces so
the free flow of ideas will still prevail even in the COVID-19 context.
I believe the concept of Made in the World and free flow of ideas will be useful to me in the
future. This will help me better understand globalization and that we are interconnected and need
other countries to create products and services. Not all raw materials and services are found in
our country so it will help me identify places where raw materials and services will be available
and help us bring them here. It will help me understand that not everything required to build
something or provide something will be available at home so it will guide me to look elsewhere.
The future will be more interconnected than ever, it will be hard to understand that world without
understanding Made in the World concept and Globalization. Also many things are complex in
our world, for example some food products which have items taken from different parts of the
world, to fully understand how those types of products are made, understanding Made in the
World concept is essential.
 Assignment 8
Budget 2020-2021
The most favored industries are the Ready Made Garments (RMG) sector, the Pharmaceutical
Sector and other sectors like tea manufacturing, leather factories, ship breaking, steel, cement,
cold storage, electronics, glass, aluminum, plastic, cycle, and ceramic also have gained some
importance. People are most likely to venture on Ready Made Garments (RMG) sector, the
Pharmaceutical Sector. Now we can see increasing interest in venturing on to sectors like tea,
leather, steel, ship breaking, and electronics. Reducing demand could be seen in the Agriculture
industry, handicrafts, commercial plantation, frozen food including some other cottage industries
and smaller industries. People are more than willing to venture on large and medium industries
because they are already well established. Rashid Sarkar, M. (n.d.)
There were proposals for increasing tax free income limit, there was a projection to keep
inflation at 5.4%, rebate on online tax return submission, protection for domestic industries,
continuation of corporate tax for RMG, rise in AIT for cars, jets, VAT exemption for PPE,
masks, COVID-19 testing kits, reducing vat for agro based industries and more. There were tax
exemptions also on foreign medicines or products that showed to improve COVID-19, like
Remdesivir, equipment for blood plasma therapy and life support equipment or oxygen tanks.
Economists did not find the budget to be very well planned and innovative. They called it
traditional. "The budget is a traditional one as we did not see the necessary innovations to
address issues such as health risk, poverty and inequality caused by the Covid-19 pandemic,"
said CPD Executive Director Fahmida Khatun. "A realistic estimate of our economic
performance is also necessary because Bangladesh needs to access Covid-19 related funds from
international organizations, particularly when the government is expecting to underwrite a large
part of the budget deficit from foreign borrowing," she added. CPD Distinguished Fellow Prof
Mustafizur Rahman said: "During a crisis like the Covid-19 pandemic, the main objective should
be supporting the poor and other affected people, instead of being too concerned about GDP
growth. Dhaka Tribune. (2020)
The key sources of revenue for different forms of direct and indirect tax include Income tax,
Property tax, Corporate tax, Estate tax while indirect tax includes VAT were key sources of
revenue. The government pardoned anything related to helping COVID-19 patients from tax and
continued to tax things that were normally taxed before the pandemic exceptions include
industries which were having huge losses and badly needed to survive like the airline industry.
The Health sector and any industry related to health and COVID-19 had major expenditures with
maximum allocation. Finance Minister AHM Mustafa Kamal has announced a total of Tk29, 247
crore for overhaul of the health sector, which has been battered by the Covid-19 pandemic, in the
budget for the 2020-21 fiscal year. Dhaka Tribune. (2020). Second highest allocation proposed
was for transport, communications including the operational cost – Tk10, 342 crore – the sector
has been tipped to be allocated Tk64, 580 crore. Dhaka Tribune. (2020)
Reference:
Rashid Sarkar, M. (n.d.). Prospects and Challenges of Industrialization in Bangladesh. [online]
Available at: https://bea-bd.org/site/images/pdf/078.pdf.
Dhaka Tribune. (2020). CPD: Proposed budget traditional, lacks innovation to fight Covid-19.
[online] Available at: https://www.dhakatribune.com/bangladesh/2020/06/12/cpd-proposed-
budget-lacks-innovation-to-fight-covid-19 [Accessed 20 Dec. 2020].
Dhaka Tribune. (2020). Budget FY21: All stories. [online] Available at:
https://www.dhakatribune.com/business/economy/2020/06/11/at-a-glance-fy2020-21-national-
budget.