In order to ensure inclusive economic growth, the government needs to finalize an employment-oriented budget for the next fiscal year. Due to the coronavirus pandemic, the rate of unemployment particularly among youths is likely to be higher than the previous years. The government should therefore prioritize creating employment opportunities in the upcoming budget.
Foreign Minister Dr AK Abdul Momen, who is also an economist and the proponent of economic diplomacy in Bangladesh, has suggested that the government should focus on ‘job creation’ in the upcoming budget. Moreover, he proposed structural reforms in the tax system to improve revenue collection during the time of global crisis.
Dr Momen laid emphasis on job creation for home and abroad as many migrant workers are expected to lose their jobs as countries all over the world are facing an economic crisis.
The upcoming budget should be centered on job
creation across different sectors of the economy
in order to ensure overall development
Many people have already lost their jobs since the beginning of the coronavirus crisis and many more are projected to lose their jobs in the upcoming months. Nearly every sector of the economy has been negatively impacted and many businesses have been forced to shut down.
Therefore, it is crucial that the government focus its resources on job creation in a time of uncertainty for majority of the population. The upcoming budget should be centered on job creation across different sectors of the economy in order to ensure overall development.
The government must aim for sustainable development of every region in the country, including rural and remote areas. Allocation for the development of rural infrastructure should be increased to this end.
While the epidemic of coronavirus may have caused our economy to suffer, the government must ensure that our previous rate of development is carried forward through implementation of strategic measures.