No clear guideline to revive economy: CPD

The non-government research institution, Centre for Policy Dialogue (CPD), has said there are no clear guidelines in the proposed budget to revive the economy hit hard by coronavirus pandemic.

In an instant reaction on the proposed budget for 2021-22 fiscal year, CPD said adequate allocation has not been kept in the health, education and social safety net programmes.

Finance minister AHM Mustafa Kamal in parliament on Thursday presented the national budget for 2021-22 fiscal year.

In a bid to present instant reaction, CPD organised a press conference on its Facebook page Thursday evening.

CPD executive director Fahmida Khatun pointed out weaknesses in the budget. Distinguished fellow of the organisation, Mustafizur Rahman, research director Khondaker Golam Moazzem and senior research fellow Towfiqul Islam were present at the event.

Fahmida Khatun said an allocation of Tk 100 billion has been proposed for emergency purposes to tackle coronavirus.

"We think this amount is not adequate. None should be deprived of vaccination."

She said 0.83 per cent of allocation of GDP has been proposed and same amount has been allocated in the current fiscal year, meaning allocation has not been increased in the upcoming budget.

However, the money that has been allocated has to be spent and for that the health sector has to be restructured.

Fahmid Khatun said, "We urgently need to tackle coronavirus. Adequate ICU and oxygen have to be arranged for patients. Physicians and nurses have to be arranged."

She said it is being claimed that allocation for social safety net programmes has been increased. But pensions of government employees have been included in it. In this way the allocation of social safety net is being shown as large.

CPD thinks the non-development budget has increased and development budget has not increased as expected.

The Institution suggested an increase in the development budget by decreasing the non-development budget. There is no specific guideline about investment in the budget, observed CPD.