After Finance Minister AH Mahmood Ali presented the proposed FY25 budget in the parliament today, political parties were divided on the subject, some terming it "practical", while others calling it "unrealistic", and "a new plan for looting".

Talking to reporters BNP Secretary General Mirza Fakhrul Islam Alamgir criticised the proposed budget.

"This budget has been designed for looting. The so-called budget showed expenditure higher than income. The burden will fall on people. This will lead to increased loans from both banks and foreign sources," Fakhrul said.

"The biggest problem with the budget is its failure to create employment opportunities. The entire budget is focused on mega projects, which lead to mega theft and corruption," he said.

"I would not call this budget anti-people … it is an anti-Bangladesh budget," he added.

Meanwhile, ruling party spokesperson Obaidul Quader said the proposed budget was "realistic" and "pro-people".

This budget is based on the election manifesto, said the Awami League general secretary.

Development projects, controlling prices, employment, and social safety net got special priority from the manifesto, Quader said while talking to journalists at the entrance of parliament.

Asked whether the budget was formulated following the IMF's prescriptions, the road transport bridges minister replied in the negative.

Opposition leader and Jatiyo Party Chairman GM Quader in his reaction said the proposed budget cannot be called "people-friendly".

"Indirect taxation will increase the tax burden on people. There is no escape from this. Bangladesh will face a major economic crisis after this budget," he said while addressing reporters from the same spot.

Flanked by party leaders, he said there is no way out in the proposed budget on how to recover from the ongoing economic crisis, inflation, skyrocketing prices of essentials, unemployment problems, and the decline in foreign reserves.

Communist Party of Bangladesh (CPB) in an initial reaction said the proposed budget will not bring any relief to people.

In a joint statement, CPB President Mohammad Shah Alam and General Secretary Ruhin Hossain Prince said the proposed budget will put the burden for corruption and looting by the wealthy on the hardworking and low-income people.

Revolutionary Workers Party in an instant reaction also said the proposed budget offered no relief for the people.