The Bangladesh Economic Association (BEA) floated the proposal of keeping a provision in the upcoming budget for forming a commission over black money.
While presenting its alternative budget on Saturday, the BEA President Abul Barakat said that the amount of black money used in the country’s economy stands between Tk 5 trillion and Tk 7 trillion.
"We propose a recovery of Tk 250 billion of the black money in the coming budget,” he told a media briefing at National Press Club in Dhaka.
The BEA said Tk 700 to 800 billion are siphoned off abroad every year and suggested recovery of Tk 300 billion by initiating measures against money launderers and people sending funds abroad illicitly.
It has recommended a Tk 12 trillion budget for the coming 2018-19 fiscal, almost three times this year’s budget of Tk 4 trillion.
Finance Minister AMA Muhith has said the budget he is set to propose next month will be larger than Tk 4.6 trillion.
According to the BEA’s alternative plan, 81 percent of the budget — Tk 9.9 trillion will be covered by revenue collection.