13 July 2024

Budget given keeping world situation in mind: PM

Business Eye Report

Published: 23:12, 7 June 2024

Update: 23:16, 7 June 2024

Budget given keeping world situation in mind: PM

Prime Minister Sheikh Hasina

Prime Minister Sheikh Hasina today said the national budget for fiscal year 2024-25 was given keeping the current global situation in mind as the government wants to move ahead in a conservative way and fulfill the fundamental rights of people.

“We have to proceed with the plan, keeping the world situation in mind. we want to move ahead in a conservative way, and fulfill the fundamental rights of people,” she said
The premier said this while delivering her address as the chair at a discussion organized on the occasion of the historic Six-Point Day.
Bangladesh Awami League (AL) organized the meeting at its office in city’s Tejgaon area.     
Referring to different people’s observation on why the growth percentage is low in the budget, the premier said her government wants to move forward in a conservative way from now on so the countrymen don’t feel any suffer.

Sheikh Hasina, also AL president, said, “Actually, we want to meet the necessity of people. And we have formulated the budget keeping it in our mind.”
The AL chief said the last budget of BNP government was just Taka 62,000 crore, while the then caretaker government placed a budget of Taka 68,000 crore.
“But, we have unveiled TK 7,97,000 crore national budget this time, and in this budget, few fundamental rights of people such as education, health, agriculture, local industries, social safety net, have been given priority,” she said.
Measures have also been taken to make the people’s livelihood developed, she added.
Talking about the global high inflation, the premier said the people with limited income have been suffering from inflation.

“But we’ve introduced family cards for the limited-income people so that they can purchase several essential commodities like rice, pulse and edible oil at fair price. We’re providing food to those who are extremely poor,” she said.

The government is also providing financial assistance to the people under some 150 social safety programmes, giving free textbooks to school students, offering people some 30 types of free medicines from the community clinics, she added.  

Sheikh Hasina said, “The price of commodities usually go high during every monsoon season. Keeping it in mind, we’ll start the sale of commodities through family cards.”

She went on saying that now the biggest challenge is to control inflation, particularly food prices, mentioning that it is needed to enhance food production and supply.

About the budget deficit, the prime minister said 4.6 percent deficit has been kept in the budget this time, adding, the budget deficit in many countries, even developed ones in the world, is higher than it.

She reiterated her call not to leave even a single inch of land uncultivated to boost food production in the country amid the current global situation.

About the provision for legalizing the black money, she said that it (black money) should be brought into the legal network first.

“The money should be allowed to come to the appropriate place (the banking channel) first with payment of a nominal amount of money (tax) and then they will have to pay tax regularly…. If you go to catch fish, you need to provide feed,” she said.

Talking about the scope for whitening the black money, the prime minister said many raised questions regarding black money and argued that it would discourage legal tax payers.

She said, “It's not right, rather the fact is that the price of everything went up and the owner of one katha land is a millionaire (kotipoti). But none sell land at the government rate, rather sell it at higher prices”.

So, they keep the surplus money received from the sale of land outside the banking network, she added.