Describing the Tk 5.23 trillion proposed national budget for FY20 a tool to serve the interest of rich and businesspeople, BNP says that the will of general people is being neglected in parliament.
“The government has defended the interest of rich and business communities in the proposed budget for 2019-20 fiscal whereas they are breaking the backbone of small and real traders,” Secretary General Mirza Fakhrul Islam Alamgir told a media call on Friday (Jun 14), a day after the budget was presented in parliament.
Citing Bangladesh ranks tops in creating the ultra rich people, Mirza Fakhrul said, “These ultra rich people enjoy the privilege from government.”
The senior BNP leader termed the proposed budget as over ambitious as the government struggles to raise the revenue to finance it.
“It’s an over ambitious budget and the people is least interested about as it will be revised down at the end of fiscal year,” he said.
In the proposed budget, the GDP growth is projected at 8.2 percent for FY20 with target of inflation rate below 5.5 percent.
Of the Tk 5.23 trillion, the proposed budget sets out a revenue target of over Tk 3.77 trillion. More than Tk 3.25 trillion is expected to come through the National Board of Revenue.
The budget deficit stands at Tk 1.45 trillion, which is 5 percent of the GDP.
Mirza Fakhrul, however, said the deficit would rise further.
Claiming people question the budget plan, implementation and sector-wise allocation, the BNP leader said, “Non-manufacturing sectors account more expenditure.
“There is a huge deficit in budget every year causing a rise in debt where implementation rate sees downtrend,” he said.
Mirza Fakhrul alleged a few people control the country’s economy and they too formulate the budget and run the government.
“The macro economy has been destroyed that results in debt-ridden budget,” he said.
Referring to the tagline ‘Time is Ours, Time for Bangladesh’ of Finance Minister AHM Mustafa Kamal’s maiden budget, the senior BNP leader said, “It’s actually only their [the Awami League’s] time.”
He, however, said unlike the previous times, BNP would organise no post-budget demonstration this year. “We have given up such tradition,” he said.
BNP policymaking forum member Moudud Ahmed said that the budget proposed nothing to ensure fair prices of crops for the farmers.
“The government has kept all doors open for corruption,” alleged Ahmed, a member of BNP’s National Standing Committee.
Another standing committee member, Amir Khasru Mahmud Chowdhury said when there is no democracy and vested quarter takes over the office then the government has to bend to their will.
“No matter how big a decision is taken for the economy their interested must be served,” said Chowdhury, who served as the commerce minister in the BNP-led four party-government from 2001 to 2004.