BEA recommends Tk 12 trillion budget for FY20

Bangla Tribune Report
Published : 20:25, May 25, 2019 | Updated : 20:28, May 25, 2019

Bangladesh Economic Association (BEA) has placed a Tk 12.4 trillion alternative budget for the fiscal 2019-20 (FY20) on the occasion of birth centenary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman.
BEA’s alternative budget is 2.67 times higher than the government’s current budget of Tk 4.65 trillion for FY19.
President of BEA Prof Dr Abul Barakat unveiled the budget at a media briefing in Dhaka on Saturday (May 25).
Barakat said, “This budget has a historical importance as Bangabandhu’s birth centenary will be celebrated next year. It is going to be placed prior to the country’s golden jubilee. So, Bangabandhu’s political and economic philosophy should be reflected in the budget.”
Barakat read out the budget proposal styled “Building Bangladesh with the Spirit of Liberation in the Birth Centenary of Bangabandhu”, reports BSS.
Out of total Tk 12.4 trillion proposed budget, 81 percent worth of Tk 10.02 trillion will come from the government — 69 percent from National Board of Revenue (NBR), 31 percent from non-NBR areas and the remaining will be financed by public-private sector.
BEA said new 20 sources have been identified in its proposed budget while the government can collect Tk 950 billon from three sources –preventing money laundering, recovering black money and tax on properties.
It recommended for imposing 200 percent duty on rice import to ensure fair price of paddy.