Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Private think-tank Centre for Policy Dialogue (CPD) has termed the country's banking sector as an 'orphan' due to continual abuse of the government.
While presenting the budget recommendations for Fiscal Year 2018-19 at city's CIRDAP auditorium on Tuesday, CPD's distinguished fellow Dr Debapriya Bhattacharya said the government -- the protector of the banking sector -- abused it and made it into an orphan.
He also said the country is experiencing 'income less employment' as unemployment rate increased among the educated group of people, among the female, and population living in the country's rural area.
Dr Bhattacharya urged the government for keeping a tight rein on interest rates, exchange rates of currency, and credit flow.
He also expressed his fears of a capital flight through import of capital goods ahead of the national elections.
The veteran economist said banking sector, capital market, and import activities should be monitored closely by the government.
Towfiqul Islam Khan, a research fellow at CPD, recommended to increase the tax-free threshold for individual taxpayers to Tk 0.3 million from existing Tk 2,50,000 and cut the rate of minimum tax slab to 7.5 per cent from existing 10 per cent.
He projected Tk 500 billion shortfall in the government's revenue collection, both tax and non-tax in the current fiscal year.