Budget does not reflect July spirit: Nahid

The proposed national budget fails to reflect the spirit of a discrimination-free society envisioned by the July uprising, said National Citizen Party convener Nahid Islam yesterday.

"The budget shows signs of the old economic system. It does not embody the spirit of the mass uprising, which called for a new political and economic settlement," he said at a press conference.

He also said the government had acknowledged some existing problems but offered "no solutions for real change".

Nahid criticised the budget for lacking a roadmap to reduce inequality.

"Our expectation was that the gap between the rich and the poor would begin to narrow. But the current budget does not include any policies or steps to achieve that," he said.

He pointed out that the tax threshold for low-income earners remains unchanged, while the government has failed to introduce effective measures to hold large-scale tax evaders accountable.

"This means the tax burden will continue to fall disproportionately on the lower- and middle-income population," he said.

Nahid said it was particularly disappointing that the budget ignored the core demand of the mass uprising, which was job creation.

"There are around 2.6 million unemployed youths in Bangladesh. But the budget does not outline how investments will increase to generate jobs. Instead, we think the budget will make people more dependent on bank loans," he said.

He expressed concern over stagnation in education, health, science, and innovation.

"We demanded at least 2 percent of GDP be allocated to education, but only around 1.07 percent has been earmarked. The health sector has also been neglected again," he added.

He slammed the government for cutting the budget of the expatriates' welfare ministry by half.

"Remittances from migrant workers are a vital pillar of our economy. We strongly oppose the budget cut in this area."

Nahid also said that small and medium enterprises were overlooked in terms of incentives. The hike in e-commerce tax from 5 to 15 percent would also hamper the growth of the digital economy, he warned.

He voiced strong opposition to the continuation of policies allowing the whitening of black money.

However, he welcomed the allocation of Tk 405 crore for those injured and martyred during the July uprising but urged the government to ensure the funds reach those genuinely in need.

"While the government has made an effort, there is no clear vision on economic transformation after 15 years of Awami League rule, which destroyed all the institutions," he said.