There is no doubt that Bangladesh, much like most of the world, is going through a rough period. With the ongoing war between Russia and Ukraine and the global energy and food crisis that have certainly been exacerbated as a result of the war, Bangladesh too is struggling on many fronts.
However, this is where Bangladesh's policy decisions will be most tested, and it is imperative that when making significant decisions, particularly in the wake of the budget, the authorities concerned do not forget about low-income people.
However, it is disappointing to note that, as per analysis of one of the nation's premier research institutes, the majority of the social safety net allocation proposed in the budget will not benefit the poor. In fact, as per the analysis, over half of the allocations will go to components such as subsidies and saving certificate interest -- depriving those who arguably need this financial assistance much more.
In the current climate in Bangladesh, it is the poor who are suffering most, and the authorities concerned must not forget about them. While it must continue to focus on tackling the ongoing inflation crisis, it cannot do so at the expense of the poor and the vulnerable.
Bangladesh will face significant transitions in the next few years. For any nation making a significant transition, it is imperative that, while focusing on growth and development, it does not forget those who are under-privileged or marginalized; it is an equitable nation where citizens from all walks of life most feel at home.