Staff Reporter :
Executive Director of Centre for Policy Dialogue (CPD) Prof Mustafizur Rahman said, revenue collection is the key challenge of the budget for fiscal 2015-16.
“The revenue collection will fall short of target by Tk 30,000 crore at the end of the outgoing fiscal”, said the CPD Executive Director while addressing ‘CPD Dialogue on Analysis of the National Budget FY2016’ in a city hotel on Saturday.
He said that the FY2016 budget envisioned
high growth of revenue has been targeted for underwriting overreaching expenditure.
A number of challenges facing the budget as regards macroeconomic context are fiscal framework, budgetary measures and reforms, said Mustafizur Rahman.
He has underscored the need for economic and institutional reforms to drop culture of hasty public expenditure during the last quarter of a fiscal year. The reforms are also expected to improve the quality of ADP implementation that currently suffers from the ever-increasing number of projects, he also said.
CPD Chairman Prof Rehman Sobhan was the moderator of the discussion. He said that the allocation in the social sectors, including health and agriculture, was not adequate. Lack of governance in ADP implementation was hindering the economic growth, he claimed.
Special guest M A Mannan, State Minister for Finance and Planning, observed that budget formulation was negotiated amidst the influences of various pressure groups, and “one of the nagging problems is that the budget continues to suffer from systemic wastage and misallocation”.
Chief guest A H M Mustafa Kamal, Minister for Planning highlighted a number of achievements of the government in formulating and implementing the budget as well as the government’s step-by-step planning regarding financing the budget.
During the floor discussion, Dr A B Mirza Azizul Islam, Former Advisor to the Caretaker Government observed that most ministries, despite knowing their expected allocation, remained relatively idle in procurement mechanism due to the administrative inertia.
Executive Director of Centre for Policy Dialogue (CPD) Prof Mustafizur Rahman said, revenue collection is the key challenge of the budget for fiscal 2015-16.
“The revenue collection will fall short of target by Tk 30,000 crore at the end of the outgoing fiscal”, said the CPD Executive Director while addressing ‘CPD Dialogue on Analysis of the National Budget FY2016’ in a city hotel on Saturday.
He said that the FY2016 budget envisioned
high growth of revenue has been targeted for underwriting overreaching expenditure.
A number of challenges facing the budget as regards macroeconomic context are fiscal framework, budgetary measures and reforms, said Mustafizur Rahman.
He has underscored the need for economic and institutional reforms to drop culture of hasty public expenditure during the last quarter of a fiscal year. The reforms are also expected to improve the quality of ADP implementation that currently suffers from the ever-increasing number of projects, he also said.
CPD Chairman Prof Rehman Sobhan was the moderator of the discussion. He said that the allocation in the social sectors, including health and agriculture, was not adequate. Lack of governance in ADP implementation was hindering the economic growth, he claimed.
Special guest M A Mannan, State Minister for Finance and Planning, observed that budget formulation was negotiated amidst the influences of various pressure groups, and “one of the nagging problems is that the budget continues to suffer from systemic wastage and misallocation”.
Chief guest A H M Mustafa Kamal, Minister for Planning highlighted a number of achievements of the government in formulating and implementing the budget as well as the government’s step-by-step planning regarding financing the budget.
During the floor discussion, Dr A B Mirza Azizul Islam, Former Advisor to the Caretaker Government observed that most ministries, despite knowing their expected allocation, remained relatively idle in procurement mechanism due to the administrative inertia.
