Budget to continue to protect and develop the interests of the poor even in crisis


The government has presented the budget proposal for the new financial year in the face of various crises including inflation, dollar crisis, instability in the banking and financial sectors. In this first budget of the fourth consecutive term of the ruling Awami League government, several strategies have been taken, including increasing the tax rate and increasing the scope of the social security circle. Although the opposition in the Parliament and outside the Parliament are negative about this, the leaders of the ruling party say that this budget will play an effective role in overcoming the crisis.

New Finance Minister Abul Hasan Mahmud Ali presented the country’s 54th budget proposal on Thursday (June 6). Known as a bureaucrat by caste, this politician has not been ambitious or flamboyant in his first budget, but has simply adopted a strategy of controlling the situation. Curbage, scope for laundering of black money and coverage of social security have been increased. To make a developed, prosperous and smart country by 2041, priority has been given in the budget of Rs. Improving and expanding health care, ensuring youth training and self-employment.

In response to the question whether this budget will play an effective role in overcoming the ongoing economic crisis, Advocate Kamrul Islam, a member of the presidium of Awami League, told Jago News, ‘This budget has been good in the crisis situation of the economy. Social security has been extended to ease people’s suffering. This budget has been proposed keeping in mind the poor, lower class and middle class. Hopefully, it will play an effective role in overcoming the current economic crisis.’

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Advocate Jahangir Kabir Nanak, a member of the Awami League presidium, claimed that the proposed budget would help build ‘Smart Bangladesh’ and said, ‘The government has given a timely budget. This budget will help to develop smart Bangladesh, smart urbanization and smart people. The budget has been announced to advance the backward lower class people on an equal footing.

This budget is good in the crisis of the economy. To alleviate the suffering of people, the scope of social security has been increased. This budget has been proposed considering the poor, lower class and middle class.- Advocate Kamrul Islam

It is also part of the implementation of the election manifesto of Awami League. The government has presented this budget to the nation with the aim of making the country smart for future generations to live in. The rich, poor and middle class of the country will benefit from this budget.

Awami League’s organizing secretary and National Assembly Whip Abu Saeed Al Mahmud told Swapan Jago News, “The budget presented in the National Assembly titled ‘Dream of Smart Bangladesh in the context of sustainable development’ is the introduction of the direction of the journey to implement the far-reaching goals of the 2024-25 fiscal year budget.” Dealing with the shock of the current volatile global economic recession is now the biggest challenge for a middle-income country like ours.’

“Controlling the inflation of food, nutrition and essential commodities has emerged as a difficult challenge, especially in a small overpopulated country. In the light of this reality, the balance of the proposed budget has been carefully maintained in preserving the interests of the poor and continuing the journey of sustainable development. The proposed budget will play a special role in protecting the interests of all classes of citizens. As a public representative I welcome the proposed budget.’

Awami League executive member Mohammad Ali Arafat said, ‘Budget has been given keeping in mind the impact of global reality. Remittance flow will increase. There is an effort to reduce inflation and ease people’s suffering. Hopefully, within the next one year, everything will come to a tolerable level.’

Awami League general secretary Obaidul Quader said in an immediate response, ‘The proposed budget is a realistic budget for the masses. The budget has been given taking into consideration the promises and priority sectors given in the party’s election manifesto. There will also be focus on price control. This budget is realistic. The budget is not formulated according to anyone’s prescription. Sheikh Hasina’s government does not follow anyone’s prescription.

The budget has been given keeping in mind the impact of global realities. Remittance flow will increase. There is an effort to reduce inflation and ease people’s suffering. Hopefully, within the next one year, everything will come to a bearable level. – Muhammad Ali Arafat

However, opposition leader of the parliament and chairman of the Jatiya Party GM Quader said that this is a traditional budget, nothing special. Unemployment problem, commodity price control, devaluation of dollar – there is no action in these transitions in the budget. There will be a deficit of a lot of money. Expenditure will be more than income. Domestic and foreign debt will increase. The government is walking on the path of new debt to repay the debt. It cannot be a people-friendly budget. The common man has no cause for relief. After the budget, the country is going to face a big economic crisis.

Rajpath opposition party BNP secretary general Mirza Fakhrul Islam Alamgir said in his response that this budget is to loot. In the so-called budget, expenditure is more than income. All the burden will fall on the common man. Loans to banks and foreigners will increase further. The price of everything will go up again with the budget. People can’t do it anymore. There is no opportunity for new employment. The entire budget is anti-Bangladesh budget. Nothing for the people. This budget is for mega corruption in the name of mega project.

Similarly, various organizations including CPD, TIB have highlighted negative aspects in the budget response.

SUJ/ASA/MS