Economic Association presents alternative budget for the next FY

Bangladesh Economic Association has presented an alternative budget for the next 2022-2023 financial year. The proposed budget is 20 lakh 50 thousand 36 crore taka.

The proposal was made by the president of the association Prof Dr Abul Barkat at a press conference at the association's auditorium in Dhaka on Sunday (May 22).

The press conference was titled 'Bangladesh Economic Association's Alternative Budget Proposal 2022-23: A Democratic Budget Proposal'.

Abul Barkat said, "I am proposing an alternative budget of Tk 20 lakh 50 thousand 36 crore." Which is 3.4 times more than the current budget.

Meanwhile, the government has initially prepared a budget proposal of Tk 6 lakh 77 thousand 864 crore for the next 2022-23 financial year.

In this new budget, the target of achieving the growth of gross domestic product (GDP) is being set at 7.5 percent with inflation rate of 5.5 percent.

The finance minister will present the budget for the new fiscal year in the parliament on June 9 (Thursday).

Earlier, the total expenditure of the budget for the current fiscal year 2021-22 was estimated at 6 lakh 3 thousand 681 crore, which was 16.5 percent of GDP.