Implementation of budget to become challenging: CPD

The Centre for Policy Dialogue (CPD) today said that the government would face challenges for implementing the national budget for the next fiscal year (FY24).

The civil society think tank also opined that attaining the target of containing inflation within around 6 percent would be tough as the inflation rate has already crossed 9 percent.

The CPD came up with such observations at the “CPD Budget Dialogue” held at a city hotel. It said that the government should focus on protecting the commoners from the pressure of inflation and also to maintain the macroeconomic stability instead of focusing only on boosting the GDP growth.

Planning Minister MA Mannan spoke on the occasion as the chief guest moderated by CPD distinguished fellow Dr Debapriya Bhattacharya.

Parliamentary standing committee chairman on Ministry of Expatriates’ Welfare and Overseas Employment Barrister Anisul Islam Mahmud, BNP leader Amir Khosru Mahmud Chowdhury, PRI executive director Dr Ahsan H Mansur, the Financial Express Editor Shamsul Haque Zahid, DCCI president Barrister Sameer Sattar, Consumers Association of Bangladesh (CAB) energy adviser Dr Shamsul Alam, among others, spoke on the occasion.

Executive director of CPD Dr Fahmida Khatun presented a review on the proposed budget for FY24.

The CPD in its presentation said that there are many pressures in the macro economy of the country while it also criticized the government’s decision for imposing tax on the NGOs and educational institutions by considering them as companies.

Speaking on the occasion, the Planning Minister said that everyone would not have to pay Taka 2,000 as mandatory income tax as it is only applicable for those who are buying plots, flats and cars and are engaged in high-level transactions.

Turning to inflation, Mannan said that inflation has increased across the globe over the last few years while the government is trying its best to keep it under control.

He said that the government has been pursuing all possible means to keep the low-income group people in the comfort zone as they are being provided various types of allowances. Besides, some one crore families are being provided essential items at affordable costs by the TCB.

Referring to the introduction of universal pension scheme in the proposed budget, the Planning Minister termed it as a courageous and innovative initiative. The government will be able to materialize this initiative although it would be challenging, he added. (BSS)