Planning Minister MA Mannan on Saturday said the main goal of the proposed budget for fiscal 2020-21 (FY21) is not to attain higher GDP growth in the wake of novel coronavirus (COVID-19) pandemic, rather protecting the lives and sustaining the livelihood of the people, reports BSS.
“If we can do that, then GDP growth will come. That is why, health and the agriculture sectors got the highest priority in the proposed budget,” he said.
The planning minister was addressing as the chief guest a virtual dialogue organized by the think tank Centre for Policy Dialogue (CPD) in the capital on Saturday.
Chaired by CPD Chairman Dr Rehman Sobhan, Honorary President of Inter Parliamentary Union (IPU) Saber Hossain Chowdhury, former Commerce Minister Amir Khasru Mahmood Chowdhury, Nahim Razzak, MP, MCCI President Barrister Nihad Kabir, former Bangladesh Bank Governor Dr Salehuddin Ahmed, Executive Director of Policy Research Institute (PRI) Dr Ahsan H Mansur, Bangladesh Employers Federation President Kamran T Rahman, Bangladesh Mohila Parishad General Secretary Dr Maleka Banu, BASIS President Syed Almas Kabir and Dhaka University Economics Department Prof Dr Saima Haque spoke, among others, at the virtual dialogue.
Moderated by CPD Executive Director Dr Fahmida Khatun, its distinguished fellow Dr Mustafizur Rahman made the key-note presentation.
Speaking on the occasion, the planning minister said, “Many have raised the issue why high growth target has been set in the proposed budget. I want to say that we want to keep the growth momentum. We’re putting higher priority on protecting the lives and maintaining the livelihood of people in this pandemic.”
Referring to the directives of Prime Minister Sheikh Hasina in this regard, Mannan said the government has brought the health sector to the forefront as the development of this sector is getting the highest priority.
Side by side, he said, initiatives have been taken to keep operational the livelihood of people as well as energizing the agriculture sector and the rural economy. “High quality seeds, fertilizer and other agricultural equipment will be reached to the farmers,” he added.
Mentioning that the government is eying to get sufficient loan assistance from the development partners in the coming days, Mannan said, “We’re implementing bigger budgets over the last one decade. We’ve a strong labour force. If we can keep the impact of COVID-19 into a tolerable level, then we’ll be able to implement the proposed budget.”
Turning to the higher tax imposed on mobile phone calls and internet services, he said the use of technology has increased during this COVID-19 pandemic. “So, many have spoken about withdrawing this additional tax. I think that the finance minister should reconsider this matter.”
Referring to the proposed allocations against mega projects like Rooppur Nuclear Power Plant and Padma Multipurpose Bridge Project, Mannan said these projects should not be considered as large infrastructure projects, rather large scale economic activity or context are associated with this which would play an important role towards improving the living standards of people.
Saber Hossain Chowdhury underscored the need for enhancing accountability in budget implementation and thus assessing the qualitative impact of budget implementation.
MCCI President Barrister Nihad Kabir demanded of the government to reduce the corporate tax rate for the non-listed companies in the proposed budget alongside raising the tax-free income limit of the individual taxpayers.
Dr. Mustafizur Rahman suggested for raising the revenue management capacity of the revenue board through bringing massive reforms to the NBR.
