JS bodies ask govt to cut wasteful expenditures
Monday, 30 March 2009
FE Report
Key parliamentary (Jatiya Sangsad) bodies Sunday called for limiting the government's unnecessary expenditures in the budget for the next fiscal year.
They also suggested higher budgetary spending on agriculture, employment generation, social safety-net and industrial development against the backdrop of ongoing global meltdown.
At their first meeting on budget with Finance Minister AMA Muhith, the parliamentary committees also suggested simplification of the government's tax-revenue collection procedures to help boost its income from domestic resources.
"They have asked the government to reduce its wasteful expenditures," Mr. Muhith told newsmen after holding the pre-budget meeting with seven parliamentary standing committees, including those on finance, planning and commerce at the National Economic Council (NEC) conference room in the city' Sher-e-Banglanagar Sunday.
During the meeting, the parliamentary bodies also advised the government to prepare its next fiscal budget in such a manner that it reflected the country's economic prospects for the next few years, the finance minister said.
He informed the media that three different views on the issue of legalising undisclosed income were expressed during the meeting.
A section of participants said 'no' to the opportunity of legalising undisclosed money and some others gave their opinions in favour of the facility especially for boosting the country's industrial investment. A few others supported the facility through issuance of bonds, the minister said.
"I have told them since we have already fallen victim to the ongoing global financial recession, the next year will be a very difficult one for us," Mr. Muhith said, adding that he sought suggestions from the parliamentary bodies in this regard.
Citing the current year's Tk 990-billion fiscal budget, the Finance Minister said he informed the meeting that the government was 'reconsidering' the budgetary allocations.
Majority of the participants laid emphasis on the enhancement of the budgetary allocations for creation of employment, widening social safety-net programmes, strengthening agriculture and rural development activities and ensuring the country's food security, he mentioned.
He further said that the need for boosting investment to help the country cope with the possible fallout from the global financial meltdown was also emphasized in the meeting.
Members of the parliamentary bodies also suggested identification of the sectors that would get support to ward off global recession effects.
They also called for ensuring the supply of electricity, especially for agriculture and industrial purposes.
During discussions at the meeting it was observed that proper attention was not given toward the development of the country's communication sector.
Besides, members of the parliamentary bodies called for undertaking a massive plan for the maximum utilisation of the country's water resources.
Responding to a query, the Finance Minister said the meeting was in favour of decrease in food grain prices, especially rice, to such a level so that the farmers did not feel discouraged.
Key parliamentary (Jatiya Sangsad) bodies Sunday called for limiting the government's unnecessary expenditures in the budget for the next fiscal year.
They also suggested higher budgetary spending on agriculture, employment generation, social safety-net and industrial development against the backdrop of ongoing global meltdown.
At their first meeting on budget with Finance Minister AMA Muhith, the parliamentary committees also suggested simplification of the government's tax-revenue collection procedures to help boost its income from domestic resources.
"They have asked the government to reduce its wasteful expenditures," Mr. Muhith told newsmen after holding the pre-budget meeting with seven parliamentary standing committees, including those on finance, planning and commerce at the National Economic Council (NEC) conference room in the city' Sher-e-Banglanagar Sunday.
During the meeting, the parliamentary bodies also advised the government to prepare its next fiscal budget in such a manner that it reflected the country's economic prospects for the next few years, the finance minister said.
He informed the media that three different views on the issue of legalising undisclosed income were expressed during the meeting.
A section of participants said 'no' to the opportunity of legalising undisclosed money and some others gave their opinions in favour of the facility especially for boosting the country's industrial investment. A few others supported the facility through issuance of bonds, the minister said.
"I have told them since we have already fallen victim to the ongoing global financial recession, the next year will be a very difficult one for us," Mr. Muhith said, adding that he sought suggestions from the parliamentary bodies in this regard.
Citing the current year's Tk 990-billion fiscal budget, the Finance Minister said he informed the meeting that the government was 'reconsidering' the budgetary allocations.
Majority of the participants laid emphasis on the enhancement of the budgetary allocations for creation of employment, widening social safety-net programmes, strengthening agriculture and rural development activities and ensuring the country's food security, he mentioned.
He further said that the need for boosting investment to help the country cope with the possible fallout from the global financial meltdown was also emphasized in the meeting.
Members of the parliamentary bodies also suggested identification of the sectors that would get support to ward off global recession effects.
They also called for ensuring the supply of electricity, especially for agriculture and industrial purposes.
During discussions at the meeting it was observed that proper attention was not given toward the development of the country's communication sector.
Besides, members of the parliamentary bodies called for undertaking a massive plan for the maximum utilisation of the country's water resources.
Responding to a query, the Finance Minister said the meeting was in favour of decrease in food grain prices, especially rice, to such a level so that the farmers did not feel discouraged.