This year’s budget is a recovery budget: Planning minister
He was addressing a webinar on a post-budget discussion organised by the Institute of Cost and Management Accountants of Bangladesh (ICMAB)
Planning Minister MA Mannan said the government gave special importance to the health and agriculture sectors in the budget for FY2020-21, considering both the present condition and future sustainability.
"This year's budget is a recovery budget. At first, we need to save people and run everything so that nothing gets totally stopped," he said.
The minister was addressing a webinar on a post-budget discussion titled "National Budget 2020-2021" organised by The Institute of Cost and Management Accountants of Bangladesh (ICMAB) recently, reads a press release.
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The minister said this could be an effective budget if misuse and unnecessary expenditures can be reduced in various sectors.
MA Mannan said, "If different sectors work properly according to the situation, we will be able to achieve our expected developments."
ICMAB President Md Jasim Uddin Akond placed some proposals to the planning minister in which he proposed to add CMA professionals in various audit and examining processes.
The minister asked the institute and its professionals to come up with their ideas, share and submit those as proposals.
"Although the Covid-19 situation endangered the entire nation and halted almost everything, the national budget will achieve its target if we can maintain and utilise our limited resources properly," he said.
Dr Atiur Rahman, Bangabandhu Chair Professor at the University of Dhaka and a former Bangladesh Bank governor, said inflation may increased a little bit, but according to the situation that is bearable than getting stopped.
Asif Ibrahim, chairman of Chittagong Stock Exchange Ltd (CSE) emphasised on human resource management, education and skill enhancement in various sectors.
Dr Khondaker Golam Moazzem, research director of Centre for Policy Dialogue (CPD), said funding will be a big challenge this year, so almost every probable sector and resources should be properly used to face these challenges.
Prof Dr Swapan Kumar Bala, professor at Department of Accounting Information Systems, University of Dhaka and Md Abdus Satter Sarkar, FCA Partner, among others presented papers on budget for FY2020-21.
In their presentation, they have analysed this year's budget from technical, informative and statistical points of view.
Md Mosharraf Hossain Bhuiyan, former senior secretary, IRD and chairman of National Board of Revenue, Ranjan Kumar Bhowmik, member (Tax Survey and Inspection) of NBR, also joined the programme.
ICMAB Vice President Abu Bakar Siddique gave the vote of thanks at the webinar.
