General

BEA proposes alternative budget of Tk 20.50 trillion

President of Bangladesh Economic Association Prof Dr Abul Barkat on Sunday proposed establishment of an independent commission to recover black and laundered money.

He said that the amount of black money is over Tk 88.61 trillion in the country, accumulating from FY 1972-73 to FY 2018-19. Of which Tk 8 lakh crore has been laundered abroad at the same time. Barkat was addressing a press conference on the occasion of placing BEA’s alternative national budget for FY 2022-23.

The size of the alternative budget is Tk 20.50 trillion for the upcoming budget of FY 2022-23 along with 338 recommendations.

The revenue income from internal sources has been estimated at Tk 18.70 trillion. In addition emphasis has been put on direct tax and recovery of black and smuggled money to meet the budget deficit.

In the alternative budget, foreign loans and bank loans have been discouraged.

Prof Dr Md. Ainul Islam, general secretary of BEA moderated the session.

SOURCE: UNITED NEWS OF BANGLADESH