Staff Reporter :
Centre for Policy Dialogue on Friday expressed anxiety saying the inflation may be increased due to hike of production cost and consumer expenditure according to the VAT and taxes structure in the proposed budget for fiscal year 2017-18.
“We fear that the inflation may rise in the coming fiscal year 2017-18, due to proposed overall tax and VAT structure. The lower and middle income people will face huge pressures,” said Debapriya Bhattacharya, the distinguished fellow of CPD while presenting the center’s analysis on the proposed budget at a hotel in Gulshan in the city.
The CPD, however, agreed with the expectation and desire of the proposed budget, but saying the budget lacks specific directives on how to implement it.
Debapriya said that it is not possible to implement budget only through the administrations. There are a political economics to implement budget through involving local government out of MPs.
“But we have not seen any effective role of local public representatives in prepare or implementation of budget,” he said.
“We expect concrete planning and directives from the finance and planning ministries soon,” he said.
Debapriya Bhattacharya said there is lack of information in the proposed budget in certain areas and the burden on honest taxpayers will increase.
The CPD distinguished fellow said, “7.4 per cent GDP kept in the proposed budget, but it there is question raised that if the necessary investment occurred to fulfill the desire?”
“To make the desired GDP true it needs Tk 66,000 crore in private sector and 50,000 crore in public sector investment. If it would possible?” he questioned.
He also said that the concept about foreign aid is not realistic.
Former Executive Director of CPD, and its distinguished fellow Professor Mustafizur Rahman said while replying to a question, any budget of a democratic government can be seen as pro-election and people-welfare oriented one.
Mustafizur Rahman expressed his displeasure over the proposed VAT and tax structure.
He said, “It seemed incomprehensible that many products are kept out of VAT while proposing 15 per cent VAT for the next three years.”
CPD Executive Director Fahmida Khatun conducted the event. Research Director Khandakar Golam Muazzem, Research Fellow Taufiqul Islam Khan, among others officials, were present.
Centre for Policy Dialogue on Friday expressed anxiety saying the inflation may be increased due to hike of production cost and consumer expenditure according to the VAT and taxes structure in the proposed budget for fiscal year 2017-18.
“We fear that the inflation may rise in the coming fiscal year 2017-18, due to proposed overall tax and VAT structure. The lower and middle income people will face huge pressures,” said Debapriya Bhattacharya, the distinguished fellow of CPD while presenting the center’s analysis on the proposed budget at a hotel in Gulshan in the city.
The CPD, however, agreed with the expectation and desire of the proposed budget, but saying the budget lacks specific directives on how to implement it.
Debapriya said that it is not possible to implement budget only through the administrations. There are a political economics to implement budget through involving local government out of MPs.
“But we have not seen any effective role of local public representatives in prepare or implementation of budget,” he said.
“We expect concrete planning and directives from the finance and planning ministries soon,” he said.
Debapriya Bhattacharya said there is lack of information in the proposed budget in certain areas and the burden on honest taxpayers will increase.
The CPD distinguished fellow said, “7.4 per cent GDP kept in the proposed budget, but it there is question raised that if the necessary investment occurred to fulfill the desire?”
“To make the desired GDP true it needs Tk 66,000 crore in private sector and 50,000 crore in public sector investment. If it would possible?” he questioned.
He also said that the concept about foreign aid is not realistic.
Former Executive Director of CPD, and its distinguished fellow Professor Mustafizur Rahman said while replying to a question, any budget of a democratic government can be seen as pro-election and people-welfare oriented one.
Mustafizur Rahman expressed his displeasure over the proposed VAT and tax structure.
He said, “It seemed incomprehensible that many products are kept out of VAT while proposing 15 per cent VAT for the next three years.”
CPD Executive Director Fahmida Khatun conducted the event. Research Director Khandakar Golam Muazzem, Research Fellow Taufiqul Islam Khan, among others officials, were present.
