Jatiya Party Chairman GM Quader on Thursday termed the proposed budget for the financial year 2023-24 impractical and election-oriented, saying that it lacks the vision to reduce the sufferings of the people caused by growing price spirals of daily commodities.
“An election-oriented budget has been formulated keeping the next polls in mind. We do not think this is a realistic budget. We also think this budget will not be workable,” he said.
Quader, also the deputy opposition leader in parliament, made the remarks in quick reaction to reporters about his party's position on the budget outside the parliament building.
He said when the entire world is hit by an economic recession and the people of Bangladesh have been going through serious ordeals, the government has increased the revenue target though it could not achieve the previous fiscal's target. “I do not think the government will be able to realise such a big size of revenue.”
The Jatiya Party chief said the budget is largely dependent on borrowing from local and foreign sources. “Under the current economic situation, it is unlikely that the government will get loans from local and external sources whenever it wants. So ultimately the budget will not be feasible.”
He said the government has imposed direct tax on some goods while indirect tax is imposed on all products that are used by common people and the middle class. “So the prices of commodities will rise further."
Quader said there is no visible people-friendly initiative in the budget considering the upward trend of commodity prices and the declining income of people. “There is also no provision in the budget to help poor and low-income people survive and ensure their welfare. “So we cannot call it a people-friendly budget. It is not a pro-people budget.”
He also opposed the increase in operating costs of the government as his party thinks it can be minimized by exercising austerity amid the economic crisis.
Quader feared the government can take advantage by increasing the operating cost in the election year. “I think it can be a policy to cross the election hurdle with public money.”
