Concern voiced over heavily deficit budget
Sunday, 15 June 2008
The Finance Adviser of the caretaker government announced recently the budget of the government for the financial year 2008-09, which is a heavily deficit budget, not placed before by any government of the country, said the People's Democratic Party (PDP).
A deficit budget of this kind does not indicate a healthy sign of the economy, said PDP chairman Mohammad Golam Kibria in a press release recently.
The greatest weakness of the budget is the allocation of Taka 125.65 billion (12,565 crore) for payment of interest of the government's foreign and domestic loans, he said. It is the highest revenue expenditure for an individual item of unproductive nature and is an indicator of our alarming economic situation, he added.
The budget appears to be an attempt on the part of the government to somehow keep the economy operative. In character it is not to boost the economy which is so necessary now, he observed.
Allocation for the Anti-Corruption Commission (ACC) has been reduced in the budget, which is not in conformity with the declared policy of the government, he mentioned.
However, its success will depend on the sincerity, honesty and efficiency of the administration of the government. Let the budget not be just a traditional and formal document of income and expenditure of the government at this juncture of the economy, he pleaded.
A deficit budget of this kind does not indicate a healthy sign of the economy, said PDP chairman Mohammad Golam Kibria in a press release recently.
The greatest weakness of the budget is the allocation of Taka 125.65 billion (12,565 crore) for payment of interest of the government's foreign and domestic loans, he said. It is the highest revenue expenditure for an individual item of unproductive nature and is an indicator of our alarming economic situation, he added.
The budget appears to be an attempt on the part of the government to somehow keep the economy operative. In character it is not to boost the economy which is so necessary now, he observed.
Allocation for the Anti-Corruption Commission (ACC) has been reduced in the budget, which is not in conformity with the declared policy of the government, he mentioned.
However, its success will depend on the sincerity, honesty and efficiency of the administration of the government. Let the budget not be just a traditional and formal document of income and expenditure of the government at this juncture of the economy, he pleaded.