Proposed budget fails to address economic inequality: Khelafat Majlis

Islamist political party Khelafat Majlis has criticised the proposed national budget for the fiscal year 2025-26, labelling it as conventional and disconnected from the aspirations of the 2024 July mass uprising.

In a joint statement issued today (2 June), the party's Ameer Maulana Abdul Basit Azad and Secretary General Ahmad Abdul Kader said the large deficit in the "loan-dependent budget" fails to significantly reduce economic disparity among the people.

"Although the government emphasises controlling public expenditure and reducing the budget deficit, the revenue collection target has been raised to Tk5.64 lakh crore — higher than the previous year — which will increase the tax burden on the general public," reads the statement.

To revitalise the struggling economy, the party stressed the need for boosting both domestic and foreign investment, curbing all forms of corruption through sound management, creating employment opportunities, and enhancing remittance inflows.

They also urged the government to take effective measures to recover laundered money.