One month time too short for budget discussion: State minister
State Minister for Planning Shamsul Alam has observed a one-month timeframe is insufficient for budget discussion before its passage in the parliament.
Advocating for an extension, the state minister stated that the discussions can be started from mid-May.
The state minister made the observation at the launching event of Asian Development Bank's (ADB) report titled 'Transforming Bangladesh's Participation in Trade and Global Value Chain' at a hotel in the capital on Sunday.
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He said, "A budget contains many elements that require detailed discussion. Therefore, instead of limiting it to one month, the budget discussion can be commenced from mid-May.
The National Board of Revenue (NBR) can take preparation accordingly if there is parliamentary instruction in this regard.
"Everyone has an interest in the budget. Not only the parliament, budgetary discussion can be held with various stakeholders," he opined.
Calling for increased revenue, State Minister Shamsul Alam emphasised the necessity of tax policy reform to achieve this goal.
He said revenue needs to be increased to meet government expenditure.
Shamsul Alam also said the budget deficit which usually remains within 5% should not be above 6% even if it increases this time.
In response to the questions of the journalists, the state minister said, "There is no way to think that we accept whatever conditions the IMF set before us. What is needed for our economic reforms is being taken with scrutiny.
The IMF is our partner. We are working with them as per our needs."
