The budget proposal for FY2019-20 was placed before parliament on Thursday
The newly proposed national budget for 2019 does not entirely reflect the reality of the current situation in Bangladesh, veteran economist Dr Debapriya Bhattacharya said Thursday evening.
In response to the massive budget – amounting to Tk523,190 crore – at the CPD office in Dhaka, the distinguished fellow of the independent think tank, Centre for Policy Dialogue (CPD), said: “The finance minister made it seem realistic, but the proposed budget does not properly address what is going on in the country right now.”
He further said the proposed budget did not address all the electoral pledges that the Awami League-led 14-party alliance made during the campaign for the 11th parliamentary elections.
“He talked about high ambitions and expectations, but the specific plan to realize those expectations and ambition is not shown in this budget,” he added.
“We looked for the initiatives planned to meet the budget pledges made today [Thursday], but unfortunately did not find them in the proposal,” Dr Debapriya said.
“For example, the government said 30 million new jobs would be created by 2030, but we did not notice any specific guidelines as to how these jobs will be created, will they be private sector or public sector jobs, urban-based or rural-based,” he further added.
“In case of many other pledges, the time frame within which they will be met are not specified,” he said.
The CPD will state its detailed analysis on the proposed budget on Friday morning, he added.
Read the full budget speech for FY20 here.