Budget unrealistic, unattainable: CPD

In the context of ongoing crisis and problems, the macroeconomic projections announced in the budget are illusional and unattainable, the Centre for Policy Dialogue said in its instant budget reaction.

"It not possible to curb inflation and bridle the price hike with the measures that have been announced in the budget," said Fahmida Khatun, the executive director of the think-tank.

"There was no adequate initiative in the budget to exempt duty from the daily essentials that we import," she added.

However, the CPD praised the proposition of increasing the tax-free income limit to Tk 3.5 lakh from the existing Tk 3 lakh for individual taxpayers for 2023-24 fiscal year.

But imposition of the minimum charge of Tk 2,000 on individuals whose earnings fall below the taxable income to receive 38 service is unwise, Fahmida Khatun said.

"It should be withdrawn."

There were no steps for economic reforms, she said.

The IMF was mentioned three times in the budget and there were indications of meeting the conditions of the IMF, she said.

Overall, the proposed budget has neither recognised the current economic crisis nor provided a solution to combat it, the CPD said.