Budget FY27: Revenue target unrealistic, says Nahid
National Citizen Party (NCP) Convener and Opposition Chief Whip Nahid Islam today said the proposed budget by the BNP government lacks the necessary framework to execute any meaningful economic reforms.
He made the remark while exchanging views with journalists at Chattogram Circuit House this afternoon.
For all latest news, follow The Daily Star's Google News channel. Terming the proposed revenue collection target of Tk 6.90 lakh crore as "completely detached from reality," the NCP chief argued that achieving such a massive figure is impossible under the country's existing tax and revenue structure.
"Never in the history of Bangladesh has such a massive amount of revenue been collected. This ambitious target cannot be achieved with the current infrastructure," Nahid said.
Expressing disappointment over the fiscal blueprint, he labelled the budget as "highly ambitious" and said the public had anticipated major structural reforms to steer the economy out of its current crisis.
"Unfortunately, the current outline of the budget shows no sign of genuine economic reform," he added.
However, Nahid pointed out a few positive aspects, noting that the government has demonstrated some creativity in certain areas. He welcomed the decision to reduce taxes on specific commodities and the increased allocations for education, health, and social security sectors.
Regarding the energy sector, he said, “Never before have electricity prices been increased so much within such a short span of time.”
Nahid also raised alarm over corruption risks and a lack of good governance in the fiscal layout.
"The most critical flaw is that this budget provides no specific guidelines on how to curb corruption. Historically, a larger budget only paves the way for greater corruption," he said.
He further pointed out political discrimination in local development projects, questioning the transparency of government spending. "Look at the distribution of various cards or canal excavation projects -- ruling party MPs are receiving allocations while opposition MPs are being deprived.”
He said the proposed budget has completely failed to outline any effective measures to crack down on corruption and resist the loan defaulters.
Comments