Terming the proposed budget for fiscal 2013-14 as highly ambitious, unrealistic and pro-election, Islami Oikya Jote chairman Abdul Latif Nezami said it has given emphasis on party politics and next parliamentary polls, which make people frustrated. In his reaction on Friday, he said despite the failure in increasing revenue collection in the current fiscal (2012-1) and in the context of borrowing thousands of crore taka from banks, a Tk 55,033 deficit budget has been proposed for fiscal 2013-14.
“Such a big deficit budget was not announced in the past. A plan has been taken to take loans of Tk 48,362 crorrs from the banking sector and other sectors to meet the huge budget deficit,” the Oikya Jote chairman said.
He observed that the country’s economic stability will come under threat and loan to the private sector will shrink because of the government’s huge borrowings from banks.
The proposed budget set a target of 7.2 percent GDP growth in the next fiscal, but it will be impossible to achieve, he said.
-With The Independent input
