Opinions of parties, people not reflected in budget: BNP

Calling the interim government's maiden budget conventional, the BNP on Wednesday said the proposed budget for the 2025-26 fiscal year was placed without the opinions of political parties and the people.

BNP Standing Committee member Amir Khasru Mahmud Chowdhury said this at a post-budget press conference at the party chairperson's Gulshan office in the capital.

He said the budget formulation would not have been one-sided and non-participatory if people's voices were heard.

Khasru said since there is no parliament or democratic government in the country now, the BNP expected that the interim government would formulate the budget by establishing a minimum national consensus after discussing with the political parties and entities that joined the anti-fascist movement.

He said inflation has reached almost double-digits currently.

There are discussions on reducing inflation to 6.5 per cent, which does not seem realistic, he said.

The BNP leader also said according to the Bangladesh Bureau of Statistics (BSS), gross domestic product (GDP) growth in the 2024-25 fiscal year was 3.97 per cent.

Growth was estimated at 5.6 per cent in the new budget. This is also an unrealistic and paper-based projection like the previous government, said Khasru.

He mentioned that reducing allocations for important sectors like education, health, and agriculture is worrying.

Additional taxes and duties along with huge interest rates will create great pressure on industries. Especially the productive sectors would be affected. Many institutions may close.

Employment may also decrease, the BNP leader went on.

If the financial pressure on the middle- and low-income groups increases, economic instability may rise and progress in poverty alleviation may also come to a halt, he added.

Citing the World Bank data, he said more than 2.7 million people have become poorer than before during the interim government's tenure.

He further said the economic growth figures are declining and an elected government can help get out of the situation.

Khasru mentioned that digital entrepreneurs would come under pressure due to the increased taxes on online businesses.

This would increase the frustration of young entrepreneurs, he said.

He also said the financial condition of banks is fragile.

Taking steps like recovering default loans and laundered money, as well as expanding the tax net would create a new foundation for revenue collection, said the BNP leader.

The government is heavily dependent on the banking sector, he said, adding that repaying debts by taking on more debts, allowing the whitening of black money, and over-dependency on banks are threats towards a sustainable economy.

Referring to the facilities the readymade garment sector is enjoying due to measures taken by late president Ziaur Rahman, he said if the BNP comes to power, it would give such facilities to some other sectors to help expand the economy and diversify the export basket.

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