National Citizen Party (NCP) has criticized the proposed budget for the fiscal year 2026-27, labeling it as 'deceptive and utopian.' The party questioned whether the large budget leads to heavier pockets for leaders and workers.
At a press conference held at the party's temporary central office in Banglamotor, Dhaka, Atikur Rahman Muzhahid, the head of the party's shadow budget committee and a member of parliament from Kurigram-2, expressed these concerns. The press conference was called to officially respond to the budget.
Muzhahid stated, 'The size of the budget is entirely fictional and utopian. A budget of 9 lakh 38 thousand crore taka has been proposed. There is a saying that the larger the budget, the heavier the pockets of leaders and workers. We question whether this consideration was taken into account while formulating the budget.'
The finance minister proposed a budget of 9 lakh 38 thousand crore taka for the new fiscal year in the national parliament on Thursday. The budget estimates revenue income at 6 lakh 95 thousand crore taka, with an additional 91 thousand crore taka to be collected from other sources. The budget deficit stands at 2 lakh 43 thousand crore taka.
Muzhahid further criticized the budget, stating, 'This budget is the largest deficit budget in the history of Bangladesh. In other words, it is a hollow, deceptive, and fraudulent budget. It is also a white elephant budget. The budget does not reflect the aspirations of the people, and we are extremely disappointed and concerned.'
However, Muzhahid also mentioned some positive aspects of the budget, particularly in the areas of education, health, and social security. He emphasized that a thorough analysis of the budget would reveal it to be primarily a deceptive budget.
Describing the budget size as 'entirely fictional,' Muzhahid said, 'The budget has increased by 18 percent compared to last year. Given the fragile economic legacy we have inherited, this is a fictional budget in a debt-dependent economy.'
Addressing the government, the head of the shadow budget committee said, 'A large budget means that the National Board of Revenue (NBR) is expected to generate 6 lakh 95 thousand crore taka in revenue. This is impossible to achieve. In the past, we have seen revenue collection reach up to 3 lakh 30 thousand crore taka. Therefore, half of the budget is missing.'
Muzhahid also highlighted the country's foreign debt of over 10 lakh crore taka and internal debt of 8 lakh crore taka from the banking sector, which is increasing. He criticized the banking sector, stating that many banks are 'clinically dead' and in a state of near collapse. He expressed concern over the lack of specific measures for banking sector reform in the budget.
Muzhahid warned that if the government fails to obtain funds from banks, it may resort to printing money, leading to inflation. He criticized the government's claim of reducing VAT, stating that this is also a form of deception.
The NCP opposed the budget proposal requiring a TIN certificate for opening a bank account, stating that it would discourage people from conducting transactions through formal channels. The party expressed concern that middle and lower-income individuals would avoid banking transactions due to fear of taxes, leading to an increase in the informal economy and a lack of investment in the economy. The party also criticized the proposal to impose source tax on small businessmen, stating that it would create problems for them.
Muzhahid criticized the increase in the tax-free income limit from 25 thousand taka to 3 lakh 75 thousand taka, stating that it should have been increased to 3 lakh 85 thousand taka considering the inflation rate. He expressed disappointment and stated that the tax-free income limit should have been increased to 4 lakh 50 thousand taka.
The NCP member of parliament expressed concern over the lack of a clear statement in the budget regarding the conversion of black money into white money, stating that it is a bad omen for the nation. He highlighted the moral and economic problems associated with this issue.
Muzhahid questioned whether the budget allocation for the education sector is for infrastructure development or quality improvement. He also questioned whether the budget allocation for the health sector is for infrastructure development or quality improvement. He emphasized the need for implementation details and measures to prevent corruption.
At the press conference, Alauddin Mohammad, the joint general secretary of the NCP and a member of the shadow budget committee, expressed hope that the government would revise the budget to address the concerns of various political parties and the public. He stated, 'We want a people-oriented and transformative budget.'
The press conference was moderated by Yasir Arafat, the media secretary of the NCP's central election management committee. The party's joint general secretary, Zainal Abedin (Shishir), was also present.
