Author / source: Independent ONLINE report
DHAKA: Finance Minister AMA Muhith is later Thursday unfold in JS a new national budget of about TK 192,000 crore for the fiscal year 2012-13 to keep the budget deficit at 4.4 per cent of GDP.
The Minister will place his fourth household in the Jatiyo Sangshad, after it met at 3: 00 pm today.
The budget is practically the last full this grand alliance Awami League-led Government. It is planned probably to a populist budget with a view to the next general elections beginning 2014. The Finance Minister would have the task to do the subtle balance between the demand for restoration of budgetary discipline and voter pressure to low taxation.
Classified budget left which by many as the worst of the three last financial years during the term of Office of the present Government of Prime Minister Sheikh Hasina was known a turbulent year.
Revenue spending of the budget be 111.675 crore to TK and is an annual programme of development of TK it 55,000 crore.
Tax revenue is estimated at TK 139.760 crore and the budget deficit is expected to stand on TK 46.024 crore.
Muhith has already said that subsequent budget would aim macroeconomic stability faster economic growth and social justice requires.
He said that budget would at the same time to focus on the rural economy, agriculture, industry and infrastructure.
In the field of energy, particular attention is paid he said.
The leading economists of the country, said inflation and the weakening of investment and the declining foreign AIDS would be however hard for the country in the wake of the high expenditure, excess subsidy, point to reach 7 percent GDP growth in the next fiscal year.
Asked about his expectations regarding the subsequent budget, consultant should the interim Government, the former finance the Dr A B Mirza Azizul Islam said the Government should focus on poverty reduction as a key objective and more funds for social safety net (SSN), reduce poverty from the existing set of 32.5 percent next perspectives.
He pointed out that safety net programmes contributed to helping the poor in the past 25 years.
He said the Government would have to take a decision payout on political considerations despite conditions by the International Monetary Fund (IMF) for accessing extended credit facility worth$ 1 billion.
He also hoped that the Government take special measures and invest more funds in the next financial year employment would generate budget.
"Restoring budgetary discipline would be a major challenge in the coming financial year, and lax macroeconomic management has been for many of the recent economic problems," distinguished fellow of the Center for political dialogue Dr Debapriay Bhattacharya said.
He said by TK delay 10-thousand Crores of subsidy payments for the coming budget and unsustainably low height for subsidies and transfer, the Government has destabilised the financial management, he noted allocation.
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