Centre for Policy Dialogue on Sunday said the upcoming budget should come up with a set of reform agenda which would require high policy attention.
The think-tank emphasised reform in the financial sector, agriculture price regulation and public expenditure review.
CPD recommended three sector-wise commissions to implement the reform agenda in the FY2017-18 budget. They were named as Independent Financial Sector Reform Commission (IFRC), Agriculture Price Commission (APC) and Public Expenditure Review Commission (PERC).
IFRC will work for the reform of financial sector, while APC will regulate price of agricultural products protecting farmers' rights. And, PERC will provide medium-term policy guidelines and formulate a concrete set of strategies to improve efficiency in budget delivery.
The recommendations of formulating the commissions came at the unveiling of the CPD's analysis on “State of the Bangladesh Economy in 2016-17 (second reading)” at a press conference at the Brac Centre Inn in Dhaka.
The CPD also shared its recommendations for the upcoming fiscal year budget.
CPD Executive Director Fahmida Khatun presided over the function while CPD Research Fellow Towfiqul Islam Khan presented the key-note paper.
Distinguished fellows of CPD Debapriya Bhattacharya and Prof Mustafizur Rahman, and CPD Research Director Khondaker Golam Moazzem also spoke at the event.
Towfiqul Islam Khan said: “Planned size of the total budget (as % of GDP) increased over time, but actual implementation did not improve by any discernible margin.”
“Budget implementation capacity needs to be enhanced, particularly in delivering ADP in a time-efficient and cost-effective manner,” he added in the key-note speech.