Monday, April 22, 2019 | ePaper


Big size budget doesn't mean big change in common people's lot

  • Print
THE upcoming national budget for the 2019-20 fiscal year is going to cross Tk 5 lakh crore although a comprehensive social, economic and infrastructural development with attaining zero poverty, quality health service and education with sustainable development for all is still elusive. Budget comes and goes every year round without putting any impact on the marginal people, except price hiking of essential that push them to the corner of extreme poverty. The quality change of living, livelihood and utility services of majority people are not attained despite the budgetary allocation got increased every year, what pops up a question for whom the budget announcement and who are the beneficiary. Acute unemployment and underemployment in the era of demographic dividend has enabled scarcity in almost every home.
The upcoming budget size will be about Tk 5.23 lakh crore, up 12.50 percent year-on-year. During the fiscal, the government's target is to complete the construction of Padma Multipurpose Bridge and Metro Rail Project in the revised timeframe. The construction of the bridge, which will cost Tk 30,000 crore, was supposed to be completed by December 30 last year. The government wants to make visual progress in construction of some important mega projects like Rooppur Nuclear Power Plant -- which will need big allocations in the next budget.
Past experience shows the large gap between the original size of the budget and its actual realization limits the former's relevance to no more than mere symbolism. For instance, in fiscal 2016-17, a Tk 3.41 lakh crore budget was announced but it was revised down to Tk 3.17 lakh crore. But in the end, Tk 2.69 lakh crore was used. Similarly, last fiscal year the budget was originally fixed at Tk 4 lakh crore only for it to be trimmed down to Tk 3.71 lakh crore.
The revenue collection target for the next fiscal year will likely be Tk 3.78 lakh crore, of which the National Board of Revenue will shoulder Tk 3.25 lakh crore. Meeting this target will depend on new VAT law implementation from next fiscal. We do urge the government not to put an excessive tax burden on citizens for ballooning the budget size.

More News For this Category

Readers’ Forum

Multimedia classroom for students :The use of multimedia in education helps in smartly managing teaching learning activities in the classroom. Multimedia use in the classroom is more effective for

Govt needs investment in skill developing education

LATEST statistics show female secondary students outnumber their male counterparts in 63 of the 64 districts. At this level, the female-male ratio is 54:46. According to UN and BANBEIS

CID man held with Yaba: Virus in the antidote

A CONSTABLE of Criminal Investigation Department and one of his associates were arrested with 990 Yaba pills from Savar on Thursday evening, some newspapers reported. The arrestees are Taijuddin,

CPEC and its impact

CPEC and its impact

Nawaz Ilyas :CPEC is a flagship project of Chinese leadership's overarching initiative of One Belt One Road and envisions connecting Kashgar City with Gwadar Deep Sea Port through

Ecological dangers of deforestation

ACCORDING to two recent studies, more than 2,000 hectares of forest have been lost in Cox's Bazar as a result of the expansion of refugee camps after the great exodus

One is punished for another's sin!

LOCAL media reported that a day labourer was allegedly sent to jail on Wednesday for not paying electricity bill of Tk 4007, even though his house at Mochagora village in

Peace in Palestine

Gershon Baskin :The results of the Israeli elections, as expected, have brought us more of the same. Prime Minister Benjamin Netanyahu is likely to establish a new government that will

Fascinating world of math

Muhammad Rakibul Islam :Numbers surround the world. We might not notice it spontaneously, but the patterns emerging every day in our lives are constantly telling us stories about the universe.

Readers’ Forum

Muslim countries must take a coordinated effortI'm surprised hearing that Israeli Prime Minister Benjamin Netanyahu has rejected a secret proposal from Saudi Arabia to broker an Israeli-Palestinian peace deal at

Power politics in Egypt

A HUGE majority of Egypt's MPs on April 16 approved constitutional amendments to allow President Abdel-Fattah al-Sisi in power until 2030. The amendments were initially introduced in February, however after