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Bulky budget must to fulfill big dream: Muhith

Amirul Islam || risingbd.com

Published: 15:14, 26 May 2016   Update: 15:18, 26 July 2020
Bulky budget must to fulfill big dream: Muhith

Finance Minister Abul Maal Abdul Muhith in an interview session

KM Hasnath: Finance Minister Abul Maal Abdul Muhith talked about a big and healthy budget with an aim to take more services to the door of the general people.

He said that it was not possible to achieve the target of revenue collection in the current fiscal year for logical grounds. But there is no way to go back. The budget figure is likely to increase.

In an interview with risingbd.com, the minister came up with the statement at his secretariat office on Wednesday afternoon.

The minister said the budget deficit will be within 5 percent. At the same time, it will take time to turn Bangladesh into a full welfare state. There will be a special allotment titled ‘capital budget’ in the new budget. Necessary steps will be taken to save local industry.

Abul Maal Abdul Muhith will place budget proposal for the Fiscal Year 2016-17 in the Parliament on June 2. The budget will be passed on June 30. With this, he is going to make a new record of placing the budget proposal for consecutive eight times. During the then autocratic regime of HM Ershad, he placed more two budget proposals. Meanwhile, former finance minister M Saifur Rahman created a record of placing 12 budget proposals in the Parliament. Muhith has a desire to break this record. But he said it is depending on the entire situation yet to come.

The interview with finance minister Abul Maal Abdul Muhith over 2016-17 budget is highlighted below:

Risingbd: How are you?

Muhith: I am good by the grace of almighty Allah. But I am busy with budget.

Risingbd: You are going to place eight consecutive budgets during the tenure of this incumbent government. How do you feel?

Muhith: Of course. I feel excellent. I feel lucky. I am grateful to Allah for giving me this opportunity. At the same time, I would like to thank Prime Minister Sheikh Hasina as she inspired me to do that.

Risingbd: Would you like to break the record former finance minister M Saifur Rahman has set?

Muhith: (Smile) I have a desire to break this record if I am well by the grace of almighty Allah. I would like to place 14 budget proposals at a stretch if I get opportunity.

Risingbd: After every budget, it is said the budget is ambitious, not implementable. Besides, National Board of Revenue (NBR) has failed to achieve the target of revenue collection. What do you think about this?

Muhith: Yes. Critics will say that. I agree with them. Previously, I have said that our dream is to be higher to be great in life. And to fill up our dreams, the budget figure should also be large.

Risingbd: Would you like to increase the purview of tax?

Muhith: I do not like to comment on this at this moment. Only 11 lakh out of our 16 crore people paid the tax. It is a matter of shame. The number of taxpayers should be increased at any cost.

Risingbd: what do you think about the new vat law which has already gathered huge criticism?

Muhith: A big chunk of revenue collection comes from vat. The new vat law will be introduced from next July. A great anger among the businessmen has been created over the issue. It should not be right to say anything about this.

Risingbd: The growth of gross domestic product (GDP) has been achieved in the current Fiscal Year. Is there any plan to increase the growth in the current Fiscal Year?

Muhith: Performance is good in the current Fiscal Year. As a result, the growth has been achieved. We will try to retain the growth rate in the following year.

Risingbd: Will there be any initiative to develop the infrastructure of the country in the new budget proposal?

Muhith: There will be a special allotment named ‘capital budget’ which will help develop big projects including infrastructure. Eight big projects will be included in capital budget.

Risingbd: People are talking about banking sectors. Say something regarding this.

Muhith: Our banking sections are giving much service to us. The work periphery of the banking sections has increased. But many money laundering cases have taken place here in banks. We have also seen hacking incidents in these sections. So, I can’t say anything in this regard.

Risingbd: What is needed for becoming a middle income country? There is any direction in the budget?

Muhith: We have already achieved the status of lower middle-income country. The United Nations define the status of middle income country. It will be decided in 2018. The United Nations will finally declare it in 2021.

Risingbd: Thank you so much.

Muhith: Thank you too.

risingbd/Dhaka/May 26, 2016/Hasnath/Amirul

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