'Proposed budget doesn't reflect on reality'

Economist Ahsan H Mansur on Saturday said the proposed fiscal budget did not reflect on the current economic reality for not addressing issues like dollar crunch, inflation and reform to boost revenue earnings.

The government's revenue target has continued to fail in the last 12-13 years with increased bank borrowings amid banking fund crisis, he added.

Against this backdrop, the proposed Tk 4.30-trillion revenue target in FY 2023-24 might not be possible to meet without reforming the orthodox tax administration of the British period, he said.

"The British-era tax administration carries collection through face to face meeting between tax collectors and tax payers letting to them to get personal benefits not for the state. But the modern tax collection system creates scope of no such kind face to face meeting."

Policy Research Institute (PRI) executive director Dr Mansur shared his insights while addressing the participants of a debate competition at Film Development Corporation (FDC) as the chief guest.

The Debate for Democracy (DFD) hosted the competition styled 'UCB Public Parliament' in the light of shadow parliament presided over by DFD chairman Hasan Ahmed Chowdhury Kiron.

The shadow parliament debate was held on the topic 'Role of the government in market control under the free market economy is partial'.

Islamic University, Kushtia, participated in the debate as the ruling party in favour of the topic and World University of Bangladesh (WUB) as opposition.

The WUB won the debate.

The PRI chief said money laundering from the country continued by all sections of population for lack of motivation in creating social consciousness, but the budget lacked such measures and guidelines.

Although the government job has been quite attractive after reformation in salary structure and facilities, he said, its reflection was not found in service delivery by bureaucrats.

The noted economist also referred smart budget and smart economy and said budget reflection is not found in creating a smart generation.

Citing lacking in the FY 2023-24 budget along with price controls over fuel and essential commodities, Dr Mansur said the budget even could not give any directive on how to bring back laundered money.

But he criticised the provision proposed to pay Tk 2,000 with tax returns even by non-taxable TIN-holders.

Dr Mansur also said the proposed budget did not address major issues like poverty alleviation, inflation control, social safety to new poor, labourers, SME expansion, price controls and remittance incentive.

Even it failed to provide right directives towards smart citizen and smart Bangladesh.

Prof Abu Muhammad Rois, Dr SM Morshed and journalists Mainul Alam, Sharmeen Rinvy and Munima Sultana were present as judges in the competition.

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