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Proposed budget lacks stability guidelines, security assurances and reform promises: Debapriya

Proposed budget lacks stability guidelines, security assurances and reform promises: Debapriya

Dr Debapriya Bhattacharya. Photo: Collected

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“The proposed budget has no direction of stability, assurance of security and no promise of reforms to ensure the welfare of the people who are lagging behind,” the eminent economist said

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Publisted at 5:09 PM, Mon Jun 10th, 2024

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The proposed national budget for the upcoming fiscal year lacks stability guidelines, security assurances and reform promises, said Citizens' Platform for SDG Implementation Convener and Distinguished Fellow at the Centre for Policy Dialogue Dr Debapriya Bhattacharya.

“Everything including revenue proposals, reforms were said to be in favour of common people, but due to issues of power and politics, everything went in favour of special individuals and groups,” he said speaking at a media briefing titled “National Budget 2024-25 and Prevailing Situation: Achievement of Disadvantaged People” organised jointly by CPD and Citizens' Platform for SDG Implementation on Monday (10 June).

“The proposed budget has no direction of stability, assurance of security and no promise of reforms to ensure the welfare of the people who are lagging behind,” he added.

The eminent economist said the proposed budget and the promises of the government are at odds with each other.

“Even the policies and strategies mentioned in the budget are not consistent with the allocation,” he said.

Presenting the main article in the programme, CPD Senior Research Fellow Toufiqul Islam Khan said the concessions have been reduced in the proposed budget indirectly. 

“Just as the facility to legalise undeclared money with 15% cash tax has been kept, the facility for buying flats in the Gulshan area has also been kept with 2.38% tax. The scope to legitimise illegal money cannot be accepted without question,” he added.

He also commented that there was no discussion in the budget about the banking sector, good governance, irregularities in the market, money laundering and debt problems.

Speaking at the event, Transparency International Bangladesh (TIB) Executive Director Dr Iftekharuzzaman said, “All democratic institutions have become ineffective due to political influence.”

“Apart from that, the agency is not able to utilise its operational capacity to its full extent due to being controlled from outside,” he said.

Stating the Anti-Corruption Commission alone can't fight corruption, he said, “Parliament, judicial process and law enforcement agencies are also expected to play a role in fighting corruption.”

East West University Business and Economics School Dean AK Enamul Haque, Jahangirnagar University Economics Professor Sharmind Nilormi, Policy Exchange Bangladesh Chairman and CEO Dr M Mashroor Riaz participated in the discussion.

 

 

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