The revenue target set in the budget is simply not achievable. Even in the previous budget, the target was unrealistic. Every year, we see that actual revenue collection falls well short of the set target. As a result, the government is forced either to cut expenditures or increase borrowing – neither of which is desirable.
Our country’s revenue-to-GDP ratio is among the lowest in the world, and the lowest in South Asia.
While ambition is not a bad thing, the chances of successful implementation are slim.
Everything hinges on investment. However, there are major barriers to private sector investment – such as inefficient port services, poor infrastructure, and bureaucratic hurdles. The budget does not appear to offer clear or adequate measures to address these issues. Without increased investment, employment will not grow, and we will fall behind in poverty reduction.
Income inequality continues to widen. The budget also lacks a clear strategy to address this growing disparity.
Bd-pratidin English/ Afia
