Budget ambitious but achievable

Finance Minister AMA Muhith speaks at a post-budget press briefing at Osmani Memorial Auditorium in the capital on Friday. Photo: STAR

Finance Minister AMA Muhith on Friday admitted that the budget for the upcoming fiscal year is ambitious but achievable.

"Of course, this budget is ambitious. In fact, all of my budgets in the last four years were ambitious," he said at a press briefing at Osmani Memorial Auditorium in the capital.

"This ambition is not only for the sake of ambition. This ambition is achievable ambition."

Muhith said implementation of the budget is always a challenge. "The challenge will also remain in the upcoming year."

His comments came in an attempt to counter claims from the opposition parties and research groups that the Tk 222,491 crore budget for fiscal 2013-14, unveiled in parliament on Thursday, is ambitious and could not be executed.

Muhith said the capacity and manpower of National Board of Revenue (NBR) to realise higher revenue has increased.

The minister also said there was no problem between the finance ministry and the NBR over fixing the revenue target.

The finance minister also refuted claims that the new budget does not clearly spell out about the financing issue. "These are confusing statements. There is no problem in financing."

"The budget clearly states the sources, which will mobilise the funds," he said.

He said the country would receive more foreign aid in the coming year, as there has been a major change in the flow of money flowing from the development partners to Bangladesh.

Muhith said the budget has proposed to increase the duties on the imported newspaper in order to protect the local newspaper manufacturing industry.

He said local manufacturers annual produce 1.2 lakh tonnes of newspapers against the consumption of 50,000 tonnes.