THE proposed national budget for fiscal year (FY) 2009-10 has been announced. Finance Minister Abul Maal Abdul Muhith presented, the proposed budget, through a 98-page text, to the Jatiya Sangshad (JS) or parliament. The Taka 1138.19 billion budget has been termed ambitious by some economists, but our finance minister is very much optimistic about it.
In the budget, a spending surge is noted in case with interest payments -- about 13.9 per cent of total expenditure. For public admin, the share of aggregate resources is at 13.6 per cent, education and information technology 11.9 per cent, local government and rural development 7.6 per cent, social security and welfare 7.3 per cent, subsidies 6.1 per cent, agriculture 4.5 per cent, energy and power 3.8 per cent.
In the proposed budget, the amount of allocation for education and IT sector is not satisfactory. Some student leaders were reported to have commented, following the announcement of the budget, that their expectations were high, but the government could not meet that. This writer also agrees with them, keeping the electoral pledge of the new government to achieve Digital Bangladesh and educated Bangladesh, into consideration.
Another aspect of the proposed budget is not acceptable -- that is whitening of black or undisclosed money. The new rate of duty for newsprint can also not be endorsed.
This budget emphasises on accelerating the pace of economic activities in rural areas and here the promises about framing district wise budgets in the coming years and also about public private partnership (PPP) in the forthcoming fiscal are welcome. As a whole, it is a good budget.
The Finance Minister said it is a big challenge for the government. As it has taken this challenge, it should be serious right from the beginning of the forthcoming fiscal to implement it properly.
In the budget, a spending surge is noted in case with interest payments -- about 13.9 per cent of total expenditure. For public admin, the share of aggregate resources is at 13.6 per cent, education and information technology 11.9 per cent, local government and rural development 7.6 per cent, social security and welfare 7.3 per cent, subsidies 6.1 per cent, agriculture 4.5 per cent, energy and power 3.8 per cent.
In the proposed budget, the amount of allocation for education and IT sector is not satisfactory. Some student leaders were reported to have commented, following the announcement of the budget, that their expectations were high, but the government could not meet that. This writer also agrees with them, keeping the electoral pledge of the new government to achieve Digital Bangladesh and educated Bangladesh, into consideration.
Another aspect of the proposed budget is not acceptable -- that is whitening of black or undisclosed money. The new rate of duty for newsprint can also not be endorsed.
This budget emphasises on accelerating the pace of economic activities in rural areas and here the promises about framing district wise budgets in the coming years and also about public private partnership (PPP) in the forthcoming fiscal are welcome. As a whole, it is a good budget.
The Finance Minister said it is a big challenge for the government. As it has taken this challenge, it should be serious right from the beginning of the forthcoming fiscal to implement it properly.
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