Take Criticisms into account on the proposed budget

Economists, business leaders, political parties and people from different professions are expressing their opinions since the highest ever of Tk 9.38 crore proposed budget for the FY27 was presented in the national parliament on June 11.

In the light of all these discussions, it can be said that although there are some promising aspects, the fear of the budget remaining a mere gibberish cannot be dismissed.

Currently, the people are under multifaceted pressure due to various adversities, including prolonged high inflation, lack of employment expansion, increasing unemployment, and slowdown in business and investment.

The government’s plan to strengthen social security through various programmes such as family card, farmer card, e-health card and expatriate card has been clarified in the proposed budget.

If these programmes are implemented, there is hope that some relief will return to public life.

It is to be noted that various social security programmes have been in existence in the country for a long time.

The poor and vulnerable population has been provided with assistance through various programmes, including old age allowance, widow allowance, disability allowance, VGF, VGD.

However, at various times, there have been allegations of irregularities in the selection of beneficiaries, political influence, lack of transparency, and exclusion of the truly poor in these programmes.

If the government fails to address the challenges, the social security programme will remain just an allocation; it will not have any positive impact.

Although the Finance Minister, Amir Khusru Mahmud Chowdhury, calls it a budget for economic recovery, the question of how much the immediate expectations of the common people regarding the increase in income and earnings, along with the emancipation from the sword of high inflation, will be fulfilled has become more and more pressing.

The target of 6.5 percent growth has also raised questions. Development or growth has never increased by leaps and bounds, it has always increased gradually.

We do not know how innovative this is compared to the one-stop service that was widely used in the past; but how can the complex process for which the so-called one-stop service has not been effective be simplified in such a short time? Will the bureaucracy not twist its own natural curves?

The businessmen had demanded the right to do business without any hindrance by reducing the burden of various taxes. In particular, the demand for reducing corporate taxes has been ignored.

We call for strong necessity of coordination of employment, skill development, healthcare and education programmes with social security measures.

Equal importance should be given not only to cash assistance, but also to increasing people’s productivity.