The Bangladesh Economic Association (BEA) has placed a Tk 20.50 trillion (20,50,036-crore) budget proposal for the next fiscal year (FY23).
BEA President Dr Abul Barkat placed the proposals at a press conference held at its office in the capital on Sunday.
Dr Barkat said that they have placed such a huge budget proposal considering the global economic situation, COVID-19 pandemic, and the impact of the ongoing Russia-Ukraine war.
The proposed budget of the BEA is around 3.40 times higher than the original national budget size of the current fiscal year which is Tk 6.03 trillion (6,03,681 crore) or 17.5 per cent of GDP.
The proposed budget of BEA is pro-people and pro-democracy, Dr Barkat said, adding that the main aim of their budget is to include 70 to 80 per cent of country's people into sustainable middle class over the next 10 years, reports BSS.
Besides, it also aims to address inequality and lowering down the poverty rate at the lowest level which would ensure establishing a civilized social system in light of the spirit of the War of Liberation.
The alternate budget proposal of BEA consists of some 38 recommendations where Tk 18.70 trillion (91.2 per cent) will come from the government revenue while the rest Tk 1.80 trillion (8.7 per cent) will remain as budget deficit.
In the press conference, BEA members and people from different class remained connected through video conferencing.