Proposed budget typical, highly ambitious: GM Quader 

Jatiya Party Chairman GM Quader, also deputy leader of the opposition, has termed the proposed budget for the fiscal 2022-23 typical and highly ambitious. 

The budget implementation does not seem to be possible. And, it will be very difficult to achieve the revenue collection target, he said while taking part in a general discussion on the proposed budget in parliament on Tuesday.

"The budget talks about taming inflation but I do not think that will be possible. I also do not agree with the growth projection," he noted.

Stating that it is a budget of deficits and it depends on borrowing, he said the overall deficit is Tk2.45 lakh crore, which is 5.5% of GDP and 36.18% of the budget outlay. 

To meet this deficit, Tk2.58 lakh crore will be borrowed, which is 38.17% of the budget, he also said.

The revenue generation proposed in the budget will be spent on meeting the operating expenses, he continued. 

"If we cannot reduce operating expenses and if we cannot increase revenue mobilisation, we have to depend on borrowing," Quader also said.

"Besides, I did not agree with the proposed increase in the revenue collection target in the budget."

Starting that the revenue collection fell short of the target last year, "The revenue generation target is very high, given the present global economic downturn,"

He suggested reducing operating expenditure as it is not possible to increase revenue collection now.

Besides, banks will face a liquidity crisis if the government's borrowing from them goes up much. 

As a result, small traders will not be able to do business due to a lack of money. There will be no expansion in trade and commerce, leading to a further rise in unemployment, the deputy leader of the opposition pointed out.

The foreign debt is riskier with Bangladesh's forex reserves declining day by day because of higher import costs but lower export earnings, GM Quader also said, adding that remittance inflows are also declining.

In this situation, more caution should be exercised in the case of foreign loans that have to be repaid in the future.

Participating in the general discussion, independent lawmaker Mujibur Rahman Chowdhury Nixon demanded sanctions on Nobel laureate Prof Muhammad Yunus, former US Secretary of State Hilary Clinton and former British First Lady lawyer Cherie Blair to prevent them from visiting Bangladesh to hatch any more conspiracy, reports UNB. 

"I demand sanction on Dt Yunus, Hilary Clinton and wife of Tony Blair [Cherie Blair] so that they cannot make new conspiracy against the country," said the lawmaker from Faridpur.

Mujibur, who is also the presidium member of the ruling Awami League's associate body Juba League, asked the government to file a sedition case against the Bangladeshis who were involved in this conspiracy. 

He named the Bangladeshis as Dr Yunus, BNP leader Khaleda Zia and her elder son Tarique Zia.