State Minister for Finance Wasika Ayesha Khan has said that the social security program has been increased to deal with the pressure of inflation in the budget of the next financial year 2024-25. At the same time, he also said that there will be an analysis of the impact of climate change on the economy during the presentation of this year’s budget.
He said this while talking to reporters in his office at the Secretariat on Thursday (May 30).
The state minister said that the possible impact of climate change on our economy was not in the previous budgets. An analysis will be given during the presentation of the budget. 44 Ministries prepare the report as a gender budget report is given every year.
Tax benefits will be given to recover the money laundered. That is, if you pay so much tax, then you can bring the money back to the country. It is heard that the amount of tax is being increased. When asked about this, the state minister said that it should be known from the National Board of Revenue. Revenue collection is their jurisdiction. I also heard that it has some discounts like last time. But I can’t say the rate now.
Referring to the beginning of price inflation after the Russia-Ukraine war after the corona epidemic, he said, then the price of fuel oil increased. Since then there has been inflation around the world. Many countries have inflation of over sixty percent. To bring people out of the inflationary shock, social protection programs have been enhanced in the proposed budget.
‘Inflation is gaining importance in this year’s budget, so is the expansion of social security programs. Free food distribution will continue among low and low income people’ – added the state minister.
Wasika Ayesha Khan said, starting from family card, food assistance is ongoing. Measures have been taken to ensure that these are done properly. A supportive fiscal stand has been adopted to successfully implement monetary policy to maintain overall stability while keeping the budget deficit at a bearable level. There is a matter of falling prices of food products and fertilizers in the world market. Initiatives have been taken to keep food supply normal.
Whether we are moving towards debt dependent development or not; When asked, he said, we are not going towards debt-dependent development. Our debt-GDP ratio is very low. Compared to other countries, we have very less. We have a lot of borrowing capacity. Our payment record is also good. Bangladesh has never defaulted on any payment. I hope it is not right to say debt dependent development.
MAS/MKR/JIM
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