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A set of key issues including curbing inflation to give some respite to the common people are missing in the proposed budget for the upcoming fiscal year (FY), said Dr Mirza Azizul Islam.
The budget for the FY 2023-24, placed in parliament on June 1, 2023, has not addressed the persisting problems of the banking sector, its non-performing loan (NPL), he said.
The former finance adviser to a caretaker government also said the target for GDP growth in the budget has been projected in an unrealistic way.
He said printing money would not help cool off economic problem; rather it will trigger inflation.
The finance minister's statement on non-existence of siphoned money was also ruled out by the former finance adviser.
"It's not true what the minister said in his post-budget discussion on off-shore money whitening scheme," Dr Islam said while speaking as the chief guest at a mock parliament, organised by Debate for Democracy (DfD).
"Effective discussion on budgetary measures is largely missing by the lawmakers in parliament due to unequal representation," he said.
Though common people are facing difficulties due to spiraling prices of commodities, the proposed budget has no specific guidelines to give them some relief, he added.
He also cautioned that growing income inequality might create social dissatisfaction.
Inflation is surging with the decline in reserve as taka is devaluating against US dollar.
On budgetary target to attract investment, Dr Islam said ensuring power, energy, good governance, ease of doing businesses are required to achieve the goal.
He said the NPL is fueling due to absence of good governance in the banking sector and also eroding confidence of the depositors.
The DfD organised the mock parliament, UCB Public Parliament, debate at FDC in the city on '"This budget would support sustainable development."
DfD chairman Hassan Admed Chowdhury Kiron chaired the programme.
Mr Kiron said this year's budget is a challenging one to rein in price hike of in the election year.
Common people are yet to see any positive impact of the government's effort to meet the budgetary challenges.
He placed a ten-point recommendation to the government including not imposing minimum Tk2,000 tax on people not having taxable income, withdrawing travel tax from domestic air routes, taking immediate measures to resolve gas and electricity crisis, two-fold increase of the allowances to senior citizens, widows, physically challenged, addressing income inequality, taking steps to check capital flight, providing ration cards to at least 10 million families, increasing incentives on remittance earners to 5.0 per cent from existing 2.5 per cent and introducing unemployment allowances.
Bangladesh University of Business and Technology won the debate competition against State University of Bangladesh.
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