Investment and employment friendly Budget: FBCCI

:: Staff correspondent ::

FBCCI termed the FY 2017-18 Budget as Investment friendly budget. Apex organization of Businesses thinks that if the declared budget be implemented then it is possible to realize the objective of this Budget.  Leaders of the organization informed at post-Budget press briefing held at FBCCI building.  The leaders of top businesses will inform the primary opinion on Sunday after discussing with Budget expert and businesses. And the elaborate information on Budget will be presented in the light of analysis and opinion from member. FBCCI president Shafiul Islam Mohiuddin says in his written statement that 4 Lakh 26 thousand crores Taka has been declared for the budget of FY2017-18 that is 17.52% more than the previous budget and 26.20% more than previous approved Budget. At each year budget be amended due to failure of financing and financial expenditure for the budget implementation. Regular monitoring need to be strengthens to avoid negative impact on economic activities. Transparency, Efficiency, accountability and supervision need to be enforcing to implement The Budget.

Otherwise the implementation of the Budget will be challenging. Alongside he welcomed the initiative for freeing E-commerce from taxation. The organization said that, the proposed budget put more importance on socio-economic development, poverty reduction, human resource development, health and social safety net sector.  If the target that has been fixed for the power and energy, communication and other sectors be implemented perfectly the investment, industrialization and employment will be dynamic undoubtedly. We also urge the government to take effective public private partnership imitative for developing this infrastructural development.  In the new proposed budget there is a deficit of some one lakh twelve thousand and 276 crore Tk that is 5 percent of GDP. In order to fulfill the deficit government can take loan from Bank. This dependency on bank sector may harm the productive sector said the organization. Though current national economy stands on a strong basis, there was a tendency of low depression in many sectors. In recent time natural disaster cause a great harm for our agricultural production. It may be a challenge for attaining the high target.

The new vat is going to be effected on 1 July according to government decision. The business community is also very concern about the new vat system. Before implementing the new vat law the organization urges the government for amending the sundry law. We also noticed something though the budget is not fulfilled yet. Among others FBCCI director Dr. Kazi Ertaza Hassan and others were present at the press conference.



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