Experts at a seminar on Thursday said that if the rate of interest is increased further, small entrepreneurs will be looser and new investors will lose their interest in setting up new ventures.
Terming the budget for FY 2024-25 pro-people and a courageous step of the government, they said increasing subsidy in agriculture sector will contribute to boost production which will ultimately help in controlling inflation.
The seminar, styled " Bangladesh economy on global perspective: the national budget 2024-25 in food, nutrition safety, growth and inflation", was organised by Bangladesh Agri-Economists Association at the KIB auditorium, Farmgate in the capital.
Finance Minister Abul Hasan Mahmood Ali attended the seminar as the chief guest with the President of Bangladesh Agri-Economists Association, also the Chairman of Parliamentary Standing Committee on Civil Aviation and Tourism Ministry, Sazzadul Hasan MP in the chair.
State Minister for Commerce Ahsanul Islam Titu attended the seminar as the special guest while former State Minister, Ministry of Planning, Dr. Shamsul Alam, FAO Representative in Bangladesh, Dr. Jiaoqun Shi, Prof. Dr. Muhammad Jahangir Alam also spoke on the occasion.
While addressing as the chief guest Finance Minister mentioned that the government of Awami League has placed a people-friendly budget for the running fiscal year and people will enjoy it's benefit.
State Minister for Commerce, Ahsanul Islam Titu said the budget will contribute effectively in controlling inflation as it has measures like creating employment opportunities, distributing essential commodities among people in subsidized rate.
He called upon the Agri-Economists to contribute in further improving the supply chain system.
Former State Minister for Planning Dr. Shamsul Alam said the ADP size in the new budget has been made a bit smaller which will help curbing inflation.
"Specially collecting VAT through electronic device and making provision of showing tax return in different works will help increasing revenue income of the government", he added.
FAO Representative in Bangladesh, Dr. Jiaoqun said the agriculture contributes significantly in the development of Bangladesh. The country is constantly facing risks of climate change impacts and gradually progressing towards climate tolerant production methodology.
Bangladesh Agri-Economists Association Secretary General Prof. Dr. Mohammad Mizanul Haquue Kajol delivered address of welcome on the occasion.
