Budget should focus on reining in inflation, creating jobs: Experts
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard

Wednesday
July 06, 2022

Sign In
Subscribe
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
WEDNESDAY, JULY 06, 2022
Budget should focus on reining in inflation, creating jobs: Experts

Economy

TBS Report
17 April, 2022, 06:10 pm
Last modified: 18 May, 2022, 12:14 pm

Related News

  • Govt stops purchasing new cars for ministries, departments
  • WPPF tax will increase the top 10 listed firms’ costs by over Tk200cr
  • Capital market not given due importance in the budget: Stakeholders
  • Separate authorities sought to ensure accountability in public expenditure
  • Criticism as budget ‘contradicts’ with perspective plan

Budget should focus on reining in inflation, creating jobs: Experts

TBS Report
17 April, 2022, 06:10 pm
Last modified: 18 May, 2022, 12:14 pm
Illustration: TBS
Illustration: TBS

The Citizen's Platform for SDGs has called for putting importance on reining in inflation and increasing the income of the poor by creating jobs in the next national budget – without looking at the growth of gross domestic product (GDP).

"Due to the global and regional situations, there will be many challenges in the coming financial year," said eminent economist Debapriya Bhattacharya, the convener of the platform.

"In such an unusual time, the government has to formulate an exceptional budget. For this, before placing the budget, its draft policy structure should be published," he said at a concluding discussion meeting on "People's Expectations on Upcoming Budget" organised by the platform on Sunday.

He said if the detailed information about the budget is published before it is placed in the parliament, people from different walks of life will be able to express their views according to their problems, needs and wants.

The eminent economist said the prices of almost all types of products have risen in the world market. Lower- and lower-middle-class people are having a hard time as a result of rising transportation costs along with materials like fertilisers and fuels.

The event, hosted on the online platform, was moderated by Avra Bhattacharjee, joint director of Dialogue and Outreach at the Centre for Policy Dialogue (CPD).

At the event, representatives of various sectors placed their expectations and arguments with the budget in view. Debapriya Bhattacharya summarised the views of all.

Professor Robaet Ferdous, of the mass communication and journalism at the Dhaka University, spoke on behalf of an organisation called Friends Social Welfare on the issue of transgender people.

He said an appropriate definition of hijras has not been formulated. As a result, it is not clear what is being allocated for whom in the budget. A census is needed to know the number of such people.

"Transgender people need SME loans and alternative housing," he said and demanded that steps be taken to ensure a share in their inherited property.

Tony Michael Gomes, director of Technical Program, Advocacy and Communications at the World Vision Bangladesh, said children's education has been severely damaged due to the Covid-19 pandemic. Although the city-centred schools were open, educational activities were closed in the countryside or remote areas. For the same reason, both child labour and child marriage have increased in the last two years.

"Those who drop out for various reasons are less likely to return to school. Therefore, to solve these problems, the children's budget needs to be formulated in a new way," he added.

He further said that direct participation of children in the budget formulation should be ensured.

Saddan Kumer Sarker, the headmaster of the private Bogajan Adarsha School in Bhaluka, described how the school teachers were affected by the pandemic, saying the teachers in the private schools are neglected in society.

He suggested allocating funds for the nationalisation of private teachers in the forthcoming budget to ensure job security and improve the situation.

Khandekar Jahurul Alam, executive director at the Centre for Services and Information on Disability (CSID), said the budget for the disabled refers only to the budget of the Ministry of Social Welfare. On the other hand, people with disabilities are given a monthly allowance of only Tk750 under the social safety net, which is Tk25 per day. Demanding an increase in the amount of this allowance, he said that although the number of beneficiaries is increasing every year, the amount of allowance remains unchanged.

Shakeb Nabi, the country representative at Cordaid, said the majority of small and marginal farmers are currently engaged in unofficial agricultural work.

"As a result, they are being deprived of various facilities provided by the government. As a result, they need to be formally involved in the agricultural sector," he demanded.

Md Mostofa Ali, senior programme officer at Oxfam in Bangladesh, said the government should formulate more planned policies on agriculture.

He noted that there is a dearth of required agricultural officers in the region. Therefore, coordination among all the ministries related to agriculture is very important to solve these problems.

Khokon Suiten Murmu, the national consultant at Kapaeeng Foundation, said the debt burden of the aborigines living in the plains has increased due to the pandemic. On the other hand, there is no specific allocation for tribal people in the national budget.

He, therefore, proposed to include a specific section in the budget for the tribal people to overcome this fragile situation.

He demanded that indigenous people be included in all kinds of stimulus packages.

Shedding light on the long working hours of transport workers, Ahasan Habib Bulbul, general secretary at Socialist Labor Front, said due to the engagement in work for extended hours for professional reasons, transport workers lose their performance at a very young age. Moreover, they are more prone to various diseases.

Because of this, he demanded the introduction of a health-card system to ensure healthcare at subsidised rates for the transport workers.

Shima Moslem, joint general secretary of the Bangladesh Mahila Parishad, said, in a patriarchal society, all women are somewhat in a marginal position.

She said the participation of women workers in the readymade garment industry has been declining in recent times due to the advent of automated technology in the manufacturing system. Therefore, she suggested making the existing women workers efficient in line with the advent of new technology.

Debapriya Bhattacharya, in his concluding remarks, said that a draft policy should be made available to the public before presenting a budget proposal to ensure public participation.

He added that it is important to formulate an expansionary monetary policy to keep the economy afloat.

Considering the current context, he suggested that the people, especially the backward people, should be brought directly under various incentives as well as economic security and food incentives.

Bangladesh / Top News

Disadvantaged groups / Budget

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • China-led trade bloc holds promise, with some caveats
    China-led trade bloc holds promise, with some caveats
  • British Chancellor of the Exchequer Rishi Sunak listens as British Prime Minister Boris Johnson addresses his cabinet on the day of the weekly cabinet meeting in Downing Street, London, Britain June 7, 2022. Leon Neal/Pool via REUTERS
    UK Johnson plunged into crisis as Sunak, health minister quits
  • Representational Image. Photo: Pixabay
    Load shedding the best course of action for now: Experts

MOST VIEWED

  • World Bank to give Bangladesh $18b IDA loans in next five years
    World Bank to give Bangladesh $18b IDA loans in next five years
  • Infographic: TBS
    Dhaka ranks as costliest city again in South Asia for expatriates: Survey
  • Dollar crosses Tk100 mark
    Dollar crosses Tk100 mark
  • Photo: Collected
    Tech startup ShopUp bags $65m in Series B4 funding
  • New monetary policy with higher policy rate comes Thursday
    New monetary policy with higher policy rate comes Thursday
  • Bangladesh expects $5.5b from WB, IMF in budget support
    Bangladesh expects $5.5b from WB, IMF in budget support

Related News

  • Govt stops purchasing new cars for ministries, departments
  • WPPF tax will increase the top 10 listed firms’ costs by over Tk200cr
  • Capital market not given due importance in the budget: Stakeholders
  • Separate authorities sought to ensure accountability in public expenditure
  • Criticism as budget ‘contradicts’ with perspective plan

Features

The OPEC+ group of 23 oil-exporting countries met virtually on Thursday. Photo: Bloomberg

OPEC+ did its job, but don’t expect it to disappear

15h | Panorama
Mirza Abdul Kader Sardar with AK Fazlul Haque, Chief Minister of Bengal, at Haque's reception at the Lion Cinema, Dhaka, 1941. Photo: Collected

Panchayats: Where tradition clings to survival

16h | Panorama
Illustration: TBS

Universal Pension Scheme: Has it been thought through?

17h | Panorama
Last month Swapan Kumar Biswas, the acting principal of Mirzapur United College, was forced to wear a garland of shoes for ‘hurting religious sentiments.’ Photo: Collected

Where do teachers rank in our society?

1d | Panorama

More Videos from TBS

Sheikh Kamal Business Incubator to be inaugurated at CUET Wednesday

Sheikh Kamal Business Incubator to be inaugurated at CUET Wednesday

6h | Videos
Tejgaon becoming uninhabitable for illegal rickshaw garages, truck stands

Tejgaon becoming uninhabitable for illegal rickshaw garages, truck stands

6h | Videos
50 companies plan to invest big in South

50 companies plan to invest big in South

7h | Videos
Alal, Dulal sell for Tk30 lakh

Alal, Dulal sell for Tk30 lakh

8h | Videos

Most Read

1
Photo: Collected
Africa

Uganda discovers gold deposits worth 12 trillion USD

2
TBS Illustration
Education

Universities may launch online classes again after Eid

3
Meet the man behind 'Azke amar mon balo nei'
Splash

Meet the man behind 'Azke amar mon balo nei'

4
Build Dhaka East-West Elevated Expressway, relocate kitchen markets: PM
Bangladesh

Build Dhaka East-West Elevated Expressway, relocate kitchen markets: PM

5
File Photo: BSS
Energy

India pulls out of LoC funding for part of Rooppur power transmission work

6
Illustration: TBS
Interviews

‘No Bangladeshi company has the business model for exporting agricultural product’

EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2022
The Business Standard All rights reserved
Technical Partner: RSI Lab
BENEATH THE SURFACE
Workers ready a passenger vessel with a fresh coat of paint to the deck ahead of the Eid-ul-Azha at a dockyard at Mirerbagh in South Keraniganj. The vessel getting the makeover plies the Bhandaria route and will take holidaying people from the city to their country homes. Eid will be celebrated on 10 June this year. The photo was taken on Monday. Photo: Mumit M

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net