Finance Minister Abul Maal Abdul Muhith has said all targets set in the proposed budget for next fiscal year (2018-19) are achievable.
“Whenever we place a budget, then we definitely place it after a thorough thought that it will be implementable. This budget will be implementable,” he said.
The minister came up with the statement while replying to a question at the post-budget press conference at Osmani Memorial Auditorium in Dhaka on Friday afternoon, reports BSS.
Earlier on Thursday, the veteran minister placed a Taka 4645.73 billion budget at Jatiya Sangsad for the next fiscal year.
Agriculture Minister Begum Matia Chowdhury, Planning Minister AHM Mustafa Kamal, Information Minister Hasanul Haq Inu, PM’s Economic Affairs Adviser Dr Moshiur Rahman, PM’s Energy Adviser Dr Taqfiq E Elahi Chowdhury and State Minister for Finance and Planning MA Mannan were also present at the press conference, among others.
The finance minister said shortfall while implementing the budget happens every year and this time the tendency of having shortfall has witnessed a downtrend.
Replying to another question, Muhith said that the interest rates on various savings certificates are not permanent and those are reviewed in every two to three years.
He said this time there has been a delay in this regard adding that a meeting is likely to be held in the next month to review the interest rates on various savings tools.
Asked about the slashing of the corporate tax rate by 2.5 per cent, Muhith said that 40 per cent corporate tax rate is very rare in the world adding that this time the corporate tax rate has been reduced in a very planned way as this was done not all on a sudden, even the matter was discussed with the Prime Minister.
The finance minister termed his each and every budget as ‘election budget’.
Muhith said that being an important member of the ruling party, he has to deliver such budget which is being liked by the countrymen.
“So, this budget is not for the election year, rather like other years,” he said.
The minister also claimed that he has been able to keep up the promise of not imposing any new tax in the proposed budget.
Muhith, however, expressed his serious objection about the reports of some media outlets that this budget is bogus ‘Bhua’.
“What is the meaning of ‘Bhua’? How come a budget can be bogus? No one, except those who are fools and have zero patriotism, can term a budget bogus,” he claimed.
Bangladesh Bank Governor Fazle Kabir, NBR Chairman Md Mosharraf Hossain Bhuiyan, Member of the Planning Commission Dr Shamsul Alam, Finance Division Secretary Mohammad Muslim Chowdhury, ERD Secretary Kazi Shofiqul Azam spoke at the press conference.