PM defends budgetary proposal for whitening black money

Prime Minister Sheikh Hasina today (7 June) supported the budgetary provision for legalising black money saying that it should be brought to the legal network first.

"The money should be allowed to come to the appropriate place (the banking channel) first with payment of a nominal amount of money (tax) and then they will have to pay tax regularly…. If you go to catch fish, you need to provide feed," she said.

The premier was addressing a discussion arranged by Awami League at its office in the city's Tejgaon area, marking the historic Six-Point Day.

Talking about the scope for whitening black money, the prime minister said many raised questions regarding black money and argued that it would discourage legal tax prayers.

"it's not right, rather the fact is the prices of everything went up and the owner of one katha land is a millionaire (kotipoti). But none sell land at the government rate and sell it at higher prices. So, they keep the surplus money received from the sale of land outside the banking network."

The prime minister said the last budget during the BNP regime was of Tk62,000 crore and that during the caretaker government was of Tk68,000 crore whereas her government has been able to place the budget of Tk7,97,000 crore this time.

"This budget has focused on some basic demands and attached the highest priority to education, health, agriculture and local industries and social safety to ensure the basic rights of the people," she said.

Talking about the worldwide high inflation, the prime minister said the people with limited income are suffering due to Inflation.

"But we've introduced family cards for the limited-income people so that they can purchase several essential commodities like rice, pulse and edible oil at fair prices. We're providing food to those who are extremely poor," she added. 

Besides, the government has been providing financial assistance to the people under some 150 social safety programmes, providing free textbooks to school students, and providing the people with some 30 types of free medicines from the community clinics.  

"The prices of commodities usually go high during every monsoon season. Keeping it in mind, we'll start the sale of commodities through family cards," said Sheikh Hasina.

"Now the biggest challenge is to control inflation, particularly food prices," she said, adding that it is needed to enhance food production and supply.

About the budget deficit, the prime minister said 4.6% deficit has been kept in the budget this time. The budget deficit in many countries, even developed ones in the world, is higher than it.

The prime minister reiterated her call not to leave even a single land uncultivated in order to boost food production in the country amid the current global situation.