The new fiscal year budget has generated a mixed response, with stakeholders expressing both optimism and anxiety. While a larger budget is not inherently negative as it reflects economic growth, the current economic slowdown and political pressures add layers of complexity. The budget's ambitious revenue targets and the absence of specific plans for critical sectors like energy and privatization are particular points of concern. Stakeholders hope for practical implementations that align with ground realities to meet public expectations.
Key Concerns and Expectations
Several factors contribute to the anxiety surrounding the budget. The global economic crisis, particularly the Iran-Israel-US conflict, coupled with domestic challenges like low private sector credit and negative export growth, pose significant risks. Additionally, the country faces a substantial foreign debt repayment obligation of Tk 1.30 lakh crore against new borrowing of Tk 1.20 lakh crore. The ambitious revenue target of Tk 6.04 lakh crore, set by the National Board of Revenue (NBR), raises questions about its feasibility given the current economic conditions.
