Budget financing biggest challenge says CPD

Financing the 2015-16 fiscal budget will be its biggest challenge, Centre for Policy Dialogue (CPD) said today placing doubts on whether the revenue target can be met.

The think-tank expressed this in its reaction on the Tk 2.95 lakh crore budget, the biggest ever in history, placed at the Jatiya Sangsad yesterday by Finance Minister AMA Muhith.

The mega budget aims 7 percent growth and targets over Tk 2.08 lakh crore in revenue – 84 percent of which will be provided by the National Board of Revenue (NBR) in the form of VAT, income tax, import duty and others.

Think-tank CPD arranged a press conference in Brac Centre Inn in Dhaka to voice its reaction to the proposed budget. CPD’s distinguished fellow and eminent economist Debapriya Bhattachariya made their presentation on the budget. CPD Executive Director Mostafizur Rahman placed the welcome speech.

The think tank believes that sufficient initiatives have not been taken in the budget to boost private investment in the country which has remained sluggish over the past two years.

CPD also hailed the slash in corporate tax rate and a hike in the source tax for exporters. However, it stated that the Tk 4,000 uniform minimum tax for all taxpayers is “unfair”.