The proposed budget for the financial year 2024-25 cannot be called people-friendly, because of indirect taxes, the tax burden on people's heads will increase. Leader of opposition in the Jatiya Sangsad and Jatiya Party Chairman GM Quader commented that there is no way for the emancipation of the people.
He responded in front of the media persons next to the Jatiya Sangsad tunnel after announcing the budget for the fiscal year 2024-25 on Thursday (June 6).
Jatiya Party Chairman said that Tk. 5 lakh 45 thousand 400 crores of revenue has been shown. 62 percent is direct tax, the rest is indirect tax. This has increased the tax burden on the common people. Inflation is unlikely to come down. Income tax is only 36 percent, import duty is 10.3 percent, VAT is 38.1 percent and supplementary duty is 13.8 percent. We do not see any initiative to save the poor people.
Lack of environment will not increase foreign investment; it will not create job opportunities. Bangladesh will face a major economic crisis after this budget. The budget has been conventional nothing special beyond what has happened in the past few years. There is an economic crisis in the country. Inflation, prices of goods are increasing every day. There is unemployment problem. Foreign exchange is more than what is being earned, is being spent. Reserves are decreasing every day. This is reducing the price of our money. He commented that any steps or initiatives to overcome them are being targeted in this budget.
GM Quader said that the budget has been made at Tk. 7 lakh 97 thousand crores. Operating expenses are Tk. 5 lakh 6 thousand 171 crores. And the development cost is Tk. 2 lakh 81 thousand 453 crores. Income is much less than expenditure. The revenue shown is Tk. 5 lakh 45 thousand 400 crores. There is a deficit of Tk. 2 lakh 51 thousand 6 crores. The deficit is being met through domestic and foreign loans. Loan installments are being paid with the loan. After paying interest from Tk.1 lakh 27 thousand crore foreign debt, we can use Tk. 90 thousand 700 crore.
He said that Tk. 1 lakh 60 thousand 900 crores of domestic debt has to be done. Operating expenses and borrowings are being done. Domestic debt interest is Tk. 93 thousand crores and foreign debt interest is Tk. 20 thousand 500 crores. Borrowing now has interest to be paid in the future.
He also said that what the government is saying is corruption or shame. The government says 30,000 MW of generation capacity has been created. In practice 13 to 15 thousand MW can be used. Load shedding has to be done only when 15 to 16 thousand MW is required. Load shedding is going on across the country. After 15,000 additional 15,000 megawatts are not being produced, but capacity charges are being paid. In the name of capacity charge, Tk. 1 lakh 37 thousand crore have been installed in all those plants. The causes of people's loss are being shown in a profitable way. However, still not everyone is getting electricity, gas. The government has given importance to the import of gas but has not taken the initiative of production. We have to pay a huge amount. Our energy security is very much under threat.
Barrister Anisul Islam Mahmud MP, Md. Mujibul Haque Chunnu MP, ABM Ruhul Amin Howladar MP, Advocate Salma Islam MP, Hafiz Uddin Ahmed MP, Golam Kibria Tipu MP, Masud Uddin Chowdhury MP, AKM Selim Osman MP, AKM Mostafizur Rahman MP, Md. Shariful Islam Jinnah, Md. Ashrafuzzaman Ashu MP and Nurunnahar Begum MP were present.