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Budget FY21: It’s unrealistic, says Nagorik Oikya

  • Published at 09:23 pm June 11th, 2020
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The revenue collection target has been set at Tk378,000 crore which is completely impossible, said the convenor of Nagorik Oikya

Nagorik Oikya criticized the national budget of 2020-21 fiscal year terming it as unrealistic.

Mahmudur Rahman Manna, the convenor of Nagorik Oikya told Dhaka Tribune that although the budget for the FY2020-21  has been tabled under the heading “Economic development and pathway to future,” there is no real directions for economic recovery and future instruction in the proposed budget.

This is a conventional budget that is completely unrealistic and ambitious, he claimed.

To exhibit economic development through GDP growth, a budget of Tk 568,000 crore has been ascertained, of which Tk 190,000 crore is a deficit budget, he added.

The revenue collection target has been set at Tk378,000 crore which is completely impossible. This means that if this budget is implemented, the deficit budget will be much larger. 

In this year's budget, interest payment expenditure has increased by Tk 64,000 crore. It can be assumed that this expenditure will exceed Tk100,000 crore in the next financial year, he added. 

He said the budget has given the opportunity of whitening black money unconditionally. 

No action has been taken to alleviate the instability in the garment sector. In the midst of the crisis, the allocation for Annual Development Programme (ADP) has been increased by 6.27% to create opportunities for mega-projects, it likens to mega loot, he also claimed.