BEA places Tk20.94 lakh crore alternate budget for FY24

Staff Reporter  :
The Bangladesh Economic Association (BEA) on Thursday placed a Tk 20,94,112 crore alternate budget for FY2023-24, which is 3.09 times higher than FY2022-23.
During its alternate budget proposals, the BEA leaders said that there are 144 thousands crore taka black money in 50 years most of which were laundered abroad.
The BEA also termed its proposed budget as expansionary and pro-people one.

BEA President Dr Abul Barkat placed this alternate budget at a press conference at its office in Eskaton in the capital. BEA General Secretary Dr Md Ainul Islam gave the introductory speech before media.

The BEA leaders said that the alternate budget has been proposed to gain six goals over the next 10 years.
“These goals are alleviating 70 to 80 per cent of people into the middle class, reducing disparity at the lowest level, distributing resources of the rich community among the poor and low-income group people,” Dr Barkat said.

He said also that giving highest priority to the domestic economy in development, creating opportunity for making people science-minded and enlightened and thus creating employment for people.

Dr Barkat said that it is possible to realise Tk 2.12 lakh crore through imposing resource tax.
adding that resource tax should be imposed to reduce disparity.
The BEA President recommended that if the tax on the country’s 90 per cent low-income group people is lowered, then more employment would be created while their income would increase.

He also opined that Tk 20.94 lakh crore budget is very much necessary considering the global economic recession, recovery from the Covid-19 pandemic and the onslaught of the Ukraine war.

Economists of the BEA were present on the event.