The Finance Minister Abul Mal Abdul Mohith is going to declare National Budget 2009-10 tomorrow. As per available information, it has known that the government has emphasied to ensure an balance economic growth focusing on agriculture, employment generation and poverty reduction at the National Budget for the fiscal year 2009-10. A large amount budget amounting Taka 1, 13,814 crore has been prepared to meet the election pladges of the grand alliance government leaded by Bangladesh Awami League. Last year the interim caretaker government formulated national budget amounting Taka 99,962 crore for fiscal year 2008-09 which has been revised at Taka 94,130 crore in execution. The budget deficit will be this fiscal year 4.79 percent of GDP, amounting Taka 34,358 crore. Last fiscal year decifit were calculated Taka 30,580 crore which revised in Taka 24,960 crore in execution.
Proposed Mode of Financing in National Budget 2009-10
Revenue Income calacuted Taka 79,360 Crore ( NBR : Taka 61,000 crore, Non-NBR: Taka 2,955 crore, Non-Tax Income: Taka 15,506 Crore, Foreign Grants: Taka 5,130 Crore. Last fiscal year Income of NBR was Taka 54,500 crore which revised Taka 53,000 crore in execution and Income from others sectors was Taka 69,382 which was revised in Taka 69,100 crore).
Proposed Expenditure in Fiscal Year 2009-10
Non-development Expenditure calculated as Taka 77,140 crore including Revenue Expenditure Taka 69,504 crore which was in last fiscal year Taka 66,140 crore and revised in execution as Taka 67,125 crore including Revenue Expenditure Taka 62,676 crore.
ADP calculated as Taka 30,500 crore which was in last fical year as Taka 25,600 crore which was revised in Taka 23,000 crore in execution.
Expenditure for paying interest of internal debt calculated as Taka 14,471 crore which was in last fical year as Taka 11,274 crore, revised in execution as Taka 12,000 crore AND expenditure for paying interest of foreign debt calculated as Taka 1,337 crore which was in last fiscal year as Taka 1,291 crore, revised in execution as Taka 1,311 crore.
Public Private Partnership
The Government is going to introduce public private partnership to generate private finance to public budget. The supposing projects were Dhaka-Chittagong Highway, Express Way at Dhaka City and some projects of Service Sectors. We should examine the service sectors projects which has direct impacts on lives and livelihood of poor folk of the country.
We could propose to introduce public private partnership to re-open the state owned institutions specially state owned industries by giving partnership to the workers. We could examine this proposal.
Social Safety Net
Social safty net should be formulated to ensure self-sufficiency of the vulnerable groups instead of just feeding them as charity. We should indentify the mode of delivery of social safty net.
Agriculture and Employment generation, re-opening state owned enterprises and ensuring private investment could excelarate poverty reduction initiatives. We should examine these allocation and mode of delivary to ensure that it will work for the poor.
No privatisation of Public Services. Ethically private enterprises drives for profit not for services. On the contrary, public enterprises drives for providing services, not for profit. So, we should examine the allocation and mode of delivery declared by budget.
The Budget Documents will be available at www.nbr-bd.org , www.imed.gov.bd , www.pmo.gov.bd , www.bangladesh.gov.bd and anybody can send feedback to finance ministry in electronic mode through this website.
Update will be circulated through e-mail: OKCentre@gmail.com. You can send your recommendations and opinion to us through the said mail. We will compile these recommendations and send to the finance ministry for realisation.