Budgetary challenges

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THE recently announced proposed budget for the fiscal year 2007-08 has been receiving both appreciation and criticism. Most of those who have appreciated the budget have described it as a major challenge for the government to manage funds for successfully implementing the annual development programme.
Indeed, it is a challenge for the government. At least, the market situation clearly indicates how big a challenge it is for the government. Soon after the announcement of the proposed budget, it has become visible that the market is not performing properly. Some quarters have already raised the prices of those items on which increased import duty has been proposed. At the same time, there is no change in the prices of those items on which lowering or withdrawal of import tariff has been proposed.
We experienced this type of confusing situation during the periods of political governments. As they were unwilling to control this kind of situation, we the people, particularly the poor class, suffered most. Now the governance situation has changed. It is found that the government has used all its good intentions in preparing the budget. It has proposed to increase and reduce taxes considering the needs of the time and set the target of seven per cent economic growth.
So the government should strengthen its vigilance capacity to check the quarters, which are still active to embarrass it.

M Rashedul Alam
Green Road, Dhaka