The government may rely on the business community to help navigate mounting risks surrounding the upcoming national budget as revenue collection weakens and economic pressure grows.
The newly elected administration now faces the challenge of preparing the budget on time while dealing with financial obligations left by previous governments. Analysts say the situation has become more complicated as the government must address inherited liabilities alongside new commitments.
Several policy promises have also increased spending pressure. Programmes such as farmer cards, family cards and canal excavation projects require significant funding, while authorities have little scope to cut spending.
At the same time, the government cannot raise revenue overnight. Data from the National Board of Revenue (NBR) shows that the country recorded a revenue shortfall of more than Tk600 billion during the first seven months of the 2025–26 fiscal year, from July to January. The government had set a revenue target of Tk2.83 trillion for that period, but collections fell far short.
The shortfall across the three main revenue streams reached about Tk601.13 billion during the same period.
Economic pressure has intensified further due to rising global energy prices linked to tensions in the Middle East. The government also must honour the higher salary structure for public servants announced before the previous administration stepped down.
Authorities increased the salary and allowance allocation in the revised budget for the current fiscal year by about Tk220 billion, raising the total to around Tk1.06 trillion as part of preparations for implementing the new pay scale.
Uncertainty also surrounds foreign aid and project financing amid changing global economic conditions. In this situation, economists and policymakers increasingly view business leaders and investors as a crucial source of support for economic stability.
Experts say the previous interim government failed to build effective cooperation with the business community and often treated entrepreneurs as adversaries rather than partners. That approach, they argue, contributed to instability in the industrial sector and discouraged investment.
Analysts believe stronger dialogue with businesses could have eased many economic pressures by encouraging investment and job creation.
Recognising these realities, the government now plans to involve business leaders and investors more actively in the upcoming revenue and budget preparation process. The NBR hopes that broader participation will help create a more inclusive, business-friendly and taxpayer-friendly budget.
Recently, the NBR asked all business chambers and associations to submit their budget proposals by 15 March. The board also requested that organisations send their recommendations in writing to the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
However, the response from business groups remains unclear, and policymakers continue to wait for their proposals.
Experts say the government must also improve law and order, simplify business regulations, stabilise energy supply and reform the banking sector to restore confidence in the private sector.
Entrepreneurs usually show greater interest in long-term investment when authorities ensure transparency in these key areas.
Business leaders also argue that they can support economic recovery if the government consults them before finalising policies on investment and trade. Without strong business activity, revenue growth becomes difficult because the private sector drives tax payments and economic expansion.
Economists note that sustainable economic stability requires coordinated efforts from the government, the central bank and the private sector. When investors maintain confidence, new industries emerge, employment grows and trade balances improve, creating stronger momentum for economic growth and effective budget implementation.
Writer: Journalist and Columnist; Deputy Head of News, Banglavision.
