Lawmakers, who are the people's representatives, often fail to play any role in creating the budget in a constitutional manner. And so, only the finance minister's decisions are reflected in the budget proposal, said speakers at an event yesterday.
They said those who are supposed to be under social-safety-net programmes are not included. Therefore, the emphasis should be on increasing employment and tax net, they added.
They were speaking at the seminar titled "National Budget and Economic Pathway" to analyse various aspects of the proposed budget. It was organised by Centre for Governance Studies at Hotel Intercontinental, Dhaka.
There are various contradictions in the budget-making process, for which there is no proper implementation, said Muhammad Abdul Mazid, former chairperson of National Board of Revenue.
He said opportunities for discussion are also limited. Besides, an NBR office in every upazila will enable an environment for tax collection.
Prof Rashed Al Mahmud Titumir, chairperson of DU's development studies department, said the post-covid drop in employment pulled a new group into poverty. But the statistics are quite old, which leads to a lack of information. So, the people creating the budget struggle with proper allocation.
The budget for security and education has decreased, and allocation for the health sector is not enough, Titumir added.
Planning Minister MA Mannan said the mass people are less interested in governance; all they want is quality living standards. "The road to proper governance is a long process, but we have to understand what the masses want in the first place."
The proposed budget might have a lot of shortcomings, but it is just a draft, and with all the suggestions and criticism, it will be discussed in the parliament and made into a proper budget, said the minister.
Former minister Amir Khasru Mahmud Chowdhury said if a budget does not represent the people, there is a lack of scope for discussion.
He emphasised that politicisation is taking over the economy, which is one of the symbols of an authoritarian government. Besides, most investment should be on education, health and social safety nets.
The main strength of the nation's economy are small and medium-sized enterprises, which do not get proper policy attention. Inequality is rising when the government is patronising its own people for political interest, he added.
Practical learning should be prioritised rather than getting certificates, and investment for employment must be increased, said Mir Nasir Hossain, former president of Federation of Bangladesh Chamber of Commerce and Industry.
He talked about how different sorts of tax laws have made running businesses difficult and suggested to reform NBR.
Parvez Karim Abbasi, assistant professor of East West University's economics department, said if the budget is implemented, it will put pressure on the middle and lower-middle classes.
As global inflation is increasing, commodity prices are also going up. However, reduction of global prices does not decrease local prices, he said.
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