Dr. Debapriya Bhattacharya, Convener, Citizen Platform on Sunday said exchange rates and interest rates need to be balanced to make the economy stable and control food prices.
Apart from this, the agriculture sector should be given priority in the budget and at the same time Trading Corporation of Bangladesh (TCB) should play a special role in controlling food prices.
He said this in a press briefing on the budget for the marginal and backward people organized by Citizens’ Platform for the Implementation of SDGs, held at the BRAC Center in the capital.
“Globally, rising prices of food, fertilizers and fuels, three main commodities, are pushing up import costs and putting pressure on inflation. Bangladesh’s economy has not yet returned to its earlier state of Covid-19 pandemic. It is important to protect the livelihoods and affordability of marginalized and backward people, as the impact on them is comparatively higher,” said Debapriya, an economist and public policy analyst.
In general, lower-middle class and marginal people are mostly affected by the price hike whose income does not increase in line with the market.
These groups should be given protection in the budget during the fiscal year of 2022-23, he said.
He said the stability of macro-economy depends on inflation, exchange rate and the flood situation.
Dr. Iftekharuzzaman, Executive Director, Transparency International Bangladesh (TIB) Core Group Member, Citizen Platform said that although the budget is business- and bureaucrat-friendly, the hope of backward people remained left in the budget.
He termed it as an unconstitutional budget which is legitimizing corruption and immorality for those who are earning illegally.
“We are still lagging behind in terms of transparency and accountability,” he said.
Rifat Bin Sattar, Director, Program Development and Quality, Save the Children, Bangladesh, Taslima Akter, Kashfia Firoze, leaders of garment workers, among others spoke in the function.
Source: United News of Bangladesh