Grammatically correct, weaknesses to be visible in implementation: CPD
Revolution in dev administration must to implement budget, it says
Dhaka, June 8 (UNB) – A revolution in the development administration will be needed to implement the proposed national budget for 2012-13 fiscal as its credibility largely hinges on implementation, civil society think tank Centre for Policy Dialogue (CPD) said Friday.
“Without a revolution in the development administration, implementation of the budget will not be possible,” said CPD distinguished fellow Dr Debapriya Bhattacharya, while presenting CPD’s analysis on the proposed budget at a media briefing at BRAC Centre Inn in the city.
CPD executive director Prof Mustafizur Rahman gave the address of welcome on the occasion. CPD research head Dr Fahmida Khatun, senior research fellow Dr Khondaker Golam Moazzem, director, dialogue and communication division Anisatul Fatema Yousuf and other CPD team members were present.
Expressing concern over the budget financing, Debapriya said the ‘discipline of the budget’ might get jeopardized if the proposed major changes regarding financing are not implemented properly.
“The way financial issue is expressed in the budget, it can be termed as a grammatically right one, but the weaknesses and inconsistencies will become visible during the implementation period.”
He said the growth trend will not get pace if the private sector does not get access to adequate finance for investment.
Expressing doubts about achieving the targeted 7.2 percent GDP (gross domestic product) growth, the CPD distinguished fellow said investment flow will have to be increased to achieve the high-level growth.
“The investment will need to increase by 4.2 percent, from 25.4 percent of GDP (FY12) to 29.6 percent of GDP in the fiscal year 2012-2013.”
On inflation, he said it will be a big challenge to bring down inflation to the targeted 7.5 percent. “There is no specific directive on how and at which level the fuel price will be increased. The Finance Minister only said fuel price will be adjusted.”
On the tax-free income ceiling, Debapriya said it should be Tk 2 lakh considering soaring inflation. “We felt sorry as there is no change in personal tax thresholds… increase of minimum tax without a rise in the tax threshold goes against social justice.”
On imposing 2 percent tax at source on mobile phone bill (both postpaid and prepaid), the CPD said it was not justified from the point of view of social justice.
On black money whitening, Debapriya said the black money-whitening scope cannot be there always because it is economically unjustifiable and discouraging for the honest taxpayers. “It can’t be continued for an unlimited period. It’s our clear stance.”
He said the Finance Minister seemed uncomfortable to bring the black money whitening issue in his budget speech and kept it in the Finance Bill.
“Without a revolution in the development administration, implementation of the budget will not be possible,” said CPD distinguished fellow Dr Debapriya Bhattacharya, while presenting CPD’s analysis on the proposed budget at a media briefing at BRAC Centre Inn in the city.
CPD executive director Prof Mustafizur Rahman gave the address of welcome on the occasion. CPD research head Dr Fahmida Khatun, senior research fellow Dr Khondaker Golam Moazzem, director, dialogue and communication division Anisatul Fatema Yousuf and other CPD team members were present.
Expressing concern over the budget financing, Debapriya said the ‘discipline of the budget’ might get jeopardized if the proposed major changes regarding financing are not implemented properly.
“The way financial issue is expressed in the budget, it can be termed as a grammatically right one, but the weaknesses and inconsistencies will become visible during the implementation period.”
He said the growth trend will not get pace if the private sector does not get access to adequate finance for investment.
Expressing doubts about achieving the targeted 7.2 percent GDP (gross domestic product) growth, the CPD distinguished fellow said investment flow will have to be increased to achieve the high-level growth.
“The investment will need to increase by 4.2 percent, from 25.4 percent of GDP (FY12) to 29.6 percent of GDP in the fiscal year 2012-2013.”
On inflation, he said it will be a big challenge to bring down inflation to the targeted 7.5 percent. “There is no specific directive on how and at which level the fuel price will be increased. The Finance Minister only said fuel price will be adjusted.”
On the tax-free income ceiling, Debapriya said it should be Tk 2 lakh considering soaring inflation. “We felt sorry as there is no change in personal tax thresholds… increase of minimum tax without a rise in the tax threshold goes against social justice.”
On imposing 2 percent tax at source on mobile phone bill (both postpaid and prepaid), the CPD said it was not justified from the point of view of social justice.
On black money whitening, Debapriya said the black money-whitening scope cannot be there always because it is economically unjustifiable and discouraging for the honest taxpayers. “It can’t be continued for an unlimited period. It’s our clear stance.”
He said the Finance Minister seemed uncomfortable to bring the black money whitening issue in his budget speech and kept it in the Finance Bill.
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