DHAKA, May 25, 2018 (BSS) – Bangladesh Economic Association (BEA) today placed a Taka 12.40 lakh crore alternative budget for the fiscal 2019-20 (FY20) on the occasion of birth centenary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman.
“This budget has a historical importance as Bangabandhu’s birth centenary will be celebrated next year. It is going to be placed prior to the country’s golden jubilee. So, Bangabandhu’s political and economic philosophy should be reflected in the budget,” said BEA president Prof Dr Abul Barakat while placing the budget at a press conference here today.
Barakat read out the budget proposal styled “Building Bangladesh with the Spirit of Liberation in the Birth Centenary of Bangabandhu”.
BEA’s alternative budget is 2.67 times higher than the government’s current budget of Taka Tk 4,64,573 crore for FY19.
Out of total Tk 12.40 lakh crore proposed budget, 81 percent worth of Taka 10,02,510 crore will come from the government — 69 percent from National Board of Revenue (NBR), 31 percent from non-NBR areas and the remaining will be financed by public-private sector.
BEA said new 20 sources have been identified in its proposed budget while the government can collect Taka 95,000 crore from three sources -preventing money laundering, recovering black money and tax on properties.
It recommended for imposing 200 percent duty on rice import to ensure fair price of paddy.