CPD for specific plan to implement budget for FY18

DHAKA, June 2, 2017 (BSS) - The government needs to take a specific action plan for implementation of the proposed national budget for financial year 2017-18 (FY18), said Centre for Policy Dialogue (CPD), a civil society think-tank, today.

"We are of the similar view in regards to the expectation and ambition of the proposed national budget but the budget lacks specific direction on how it would be implemented," said CPD Distinguished Fellow Dr Debapriya Bhattachariya at a post-budget press conference at a city hotel.

CPD Executive Director Dr Fahmida Khatun, CPD Distinguished Fellow Professor Mustafizur Rahman, Research Director Dr Khondaker Golam Moazzem and researchers were present at the press conference, among others.

Finance Minister AMA Muhith on Thursday rolled out a Taka 4,00,266 crore ambitious national budget for FY18 setting the GDP growth target at 7.4 percent and outlining a set of plans-strategies to build a prosperous, happy and peaceful country by 2041.

Bhattacharya urged the Finance Ministry and the Planning Ministry to take an action plan soon for the implementation of the proposed budget.

Proper plans and strategies are needed to implement this 'ambitious budget,' he observed.

He said that achieving the proposed 7.4 percent GDP growth will need additional investments of Taka 66,000 crore in the private sector and Taka 50,000 crore in the public sector. "But the private investment as a share of GDP is expected to rise by 0.2 percentage points only," he added.

Bhattacharya underscored the need for creating new jobs, saying if jobs are not created and unemployment is not eradicated, growth will not be much meaningful.

He emphasised on enhancing the participation of people's representatives in the implementation stage of the Annual Development Programme (ADP) as well as the total budget.

Responding to a question, Mustafizur Rahman said any budget of a democratic government can be seen as a pro-election and people-welfare oriented one.

He said the government will have to increase the implementation and institutional capacity for proper implementation of the budget.

Source: Bangladesh Sangbad Sangstha (BSS)