Proposed budget traditional, challenging, says Brac University on post budget dialogue
The proposed budget is so far traditional and implementing the budget will be a challenging task for government, according to a discussion titled "Post Budget Dialogue FY 20-21" organised by Brac University on Friday.
The webinar discussion session event brought many eminent economists, financial analysts, keynote speakers on one platform for discussing the aspects of the upcoming national budget in June, says a press release.
"I think that an assumption of four/five per cent GDP growth rate would have been more acceptable" Said Dr Mirza Azizul Islam, ex-advisor to the Caretaker Government.
He also said that borrowing of government's loan from banking system which would cause decrease in private credit growth resulting a deficit in both investment and employment opportunity. The country is depended in imports as well as a decrease in remittance and less profit for all type of business would hamper the growth rate.
Mirza Azizul also expressed the challenge due to the unskilled administration and the accountability of the responsible authority involved regarding the utilization and implementation of the allocated resources where a section of people would still continue with lavish lifestyle.
"I think our expectations can be fulfilled to some extent if the investments are done in an effective way" Said Dr Salehuddin Ahmed, ex-governor, Bangladesh Bank.
He also marked the necessity of skilled resources in the economy with vocational training and creation of more employment in both urban and rural sector. It is also vital to consider the social security net where most of the people are deprived of aids from the government.
He said that instead of investing more in power plant projects and starting new ones, the existing should be completed with proper investment in projects where employment can be created. Also instead of an increase in tax, ensuring tax payment by all would have been more beneficial.
Dr ATM Nurul Amin, chairperson and professor of Economics, Department of Economics and Social Sciences, BRAC University and Momiul Islam, chief executive officer of IPDC Finance Limited also attended the webinar.
