Proposed budget innovative and business-friendly; execution key to success: BUILD chief

Abul Kasem Khan, chairperson of Business Initiative Leading Development (BUILD), has said the proposed national budget is innovative, business-friendly and marks a major shift from traditional thinking.

"This budget is both creative and innovative. A major shift from traditional thinking," he told The Business Standard.

Expanding on his assessment of the proposed budget, Kashem said, "This budget is both creative and innovative. A major shift from traditional thinking. The budget is business-friendly with genuine efforts to cut red tape, lower taxes, and stimulate growth."

He said, "The budget also aligns with the Government's election manifesto, demonstrating a strong positive intent, particularly in ease of doing business, job creation, and investments."

According to Kasem, the budget projects an investment-friendly tax policy through measures such as extended tax exemptions and reduced taxes across various sectors, aiming to boost the economy.

Highlighting reforms aimed at improving the business climate, he said, "Significant changes are evident in the area of ease of doing business, signaling a shift towards a more private-sector-friendly climate. Overall, the proposed budget reflects a strong deregulation agenda of the Government, which we welcome and appreciate very much."

Stressing the importance of implementation, Kashem said, "The success of the budget hinges entirely on timely execution and, we hope to see Government's timely and effective execution of these budget initiatives."

He, however, cautioned that several economic challenges remain.

"The high deficit, weak banking health, low revenue collection, and global uncertainties remain serious headwinds. The budget no doubt has excellent intentions and many pro-business features, but fiscal and banking vulnerabilities are severe which needs strong monitoring to bring economic stability and growth," he said.

Welcoming the proposal, Kashem added, "We welcome this forward looking, progressive and business friendly budget and thank the Hon'ble Finance Minister."

Finance Minister Amir Khosru Mahmud Chowdhury presented the proposed budget for the 2026-27 fiscal year in parliament today (11 June).