‘Budget of deprivation is not acceptable’

Senior Reporter: The proposed budget for the next fiscal year is called 'budget of deprivation' and it is 'unacceptable' to the people.

BNP Secretary General Mirza Fakhrul Islam Alamgir expressed his party’s reaction to the budget speech at a press conference at BNP Chairperson's Gulshan office on Sunday noon.

On June 1, Finance Minister Abul Maal Abdul Muhith presented a budget of Tk 4,266 crore for the fiscal year 2017-18. This budget is one of the largest budgets for Bangladesh. This reaction came on 11 days after the budget presentation at the Parliament.
In his speech, Fakhrul urged the government to reduce Value Added Tax (VAT) to a tolerable level in the proposed budget for 2017-18 fiscal year.

The 15% VAT proposed in the budget is the highest among South and South-East Asian countries, BNP Secretary General Mirza Fakhrul Islam Alamgir said.  

Prices of essentials and living cost will go up and pressure on inflation will rise, due to the collection of higher percentage of VAT, Fakhrul said adding that thus it will increase sufferings of middle and lower-income people.

risingbd/Dhaka/June 11, 2017/Reza/Mukul