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29 June, 2020 04:28:07 PM / LAST MODIFIED: 29 June, 2020 07:30:39 PM

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Budget ambitious, but implementable: PM

Independent Online Desk/UNB
Budget ambitious, but implementable: PM
Photo: PID

Describing the reasons behind placing an ambitious national budget with an 8.2 percent GDP growth target, Prime Minister Sheikh Hasina on Monday hoped that her government will be able to implement it as it did in previous fiscal years.

“We never failed to implement budgets in the past, and Inshallah we won't fail in the future, too. We never suffer from a sense of  frustration.

We always march forward with a specific work plan fixing a goal,” she said.

The PM said this joining the general discussion in the House  on the proposed Tk 5.68 lakh crore budget for 2020-21 fiscal year.

Sheikh Hasina assured the people of the country that the Awami League government will strongly face any possible crisis, not matter what. "No one will remain unfed."

Noting that many people say that the government is very optimistic about the budget, she said.

“We’re hopeful that there’ll be a recovery from this situation. So, we’ve taken this step considering it. If there’s no end to Covid (situation), we may not be able to implement it. But, I think, we should have a preparation. So, we placed this ambitious budget. We’ve placed it as we’ve a desire to improve the living standard of people.”

Hasina mentioned that four assumptions had been taken into account while fixing the 8.2 percent GDP growth target in the budget palaced amid the Covid-19 pandemic.

“We hope the world economy as well as the domestic one will come out gradually from the (adverse) impacts of the Covid-19 in 2021. The Bangladesh economy will return to its previous condition. So, we’ve estimated an 8.2 percent GDP growth in the budget for 2020-21 fiscal year,” she said.

Hasina said the government has taken necessary measures to maintain stability in macro economy and low inflation rate.

Elaborating the four assumptions considered in estimation of 8.2 percent GDP growth, she said  though economic activities were hindered, there was no damage to economic infrastructures  as happens during natural disasters or wars.

Besides, she said, the supply demand in the domestic market will increase as the public expenditures will go up to create jobs and increase the incomes of people. "And if the stimulus packages announced by the government are implemented, the production and the supply chain will  get normal again."  

She said it is expected that the vaccine for Covid-19 may come up in the market in October- November next, "and if so, the lifestyle of people will soon get normal in Europe and America,  and the export incomes of Bangladesh will return to the previous level.

Besides, Hasina said, fuel prices are on gradual rise in the international market. "So, the present crisis of Bangladesh regarding the overseas employment and remittance will go away. "

The Prime Minister expressed her firm hope that Bangladesh will again resume the march toward its development journey by successfully overcoming the economic impacts caused by  Covid-19.

NS

 

 

 

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Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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