The proposed budget for the upcoming 2019-20 fiscal year has been set in such a way that it will not cause a price spiral for essential commodities, Finance Minister AHM Mustafa Kamal has said.
In his budget speech at parliament on Thursday (Jun 13), he said the basic principle of tax revenue collection—by the present government—is boosting revenue mobilization; this is not only by increasing the tax rate but also by widening the tax net and coverage.
He told the House that it has not “included any component in the budget of FY2019-20 that may cause a price spiral for essential commodities.”
Rather, the focus will be on establishing revenue offices in every upazila and growth centers across the country that will have necessary manpower and other logistics to facilitate revenue collection.