SANGSAD BHABAN, June 25, 2024 (BSS) - Lawmakers today said the proposed budget for FY 25 is time-befitting and will help overcome the prevailing global economic crisis.

Taking part in the general discussion on the national budget for 2024-25 fiscal at the Jatiya Sangsad here, the lawmakers said the proposed budget will help overcome the prevailing economic crisis which is now grips the world due to Ukraine-Russia and Hamas-Israel-Palestine war.

Finance Minister Abul Hassan Mahmood Ali on June 6 unveiled a Taka 7,97,000 crore national budget for 2024-25 fiscal setting the GDP growth target at 6.8 percent amid an economic meltdown across the world due to ongoing Ukraine-Russia war and Hamas-Israel-Palestine conflict.

"The whole world is now facing serious economic meltdown due to war between Ukraine-Russia and Hamas-Israel-Palestine...under the situation, the proposed budget is time-befitting and will help to overcome the prevailing economic crisis", said Sheikh Selim of Gopalganj-2.

The proposed budget has set a goal to keep the inflation rate within 6.5 percent and growth rate up to 6.7 percent, said the lawmaker, adding that the livelihood expenditure has been increased from 50 percent to 100 percent due to the higher inflation.

Terming the proposed budget as far-sighted, Mahbub Ul Alam Hanif of Khustia-3 said the proposed budget outlay has been increased by only 4.6 percent compare to the last year budget which has proved that the government has taken the government has pursued compression policy in placing budget considering current global economic recession.

Welcoming the proposed budget, Nazrul Islam of Mymensing-5 said the proposed budget is pro-people oriented as the government has reduced tax on thirty items which would help to bring down the inflations and benefitted the common people.

"The proposed 53rd budget titled "March towards Smart Bangladesh Following the Path of Sustainable Development" which is only 4.6 percent bigger than that of the current fiscal year, would help building a smart Bangladesh", said Mohammad Shafiqur Rahman of Rajshahi-2.

Participating in the discussion, Jatiya Party lawmaker Shariful Islam Zinna of Bogura-2 said the proposed budget would be challenging amid higher inflation which would not successful if intensive efforts would not come into effect.

Treasury bench members, Mahfuzur Rahman of Chattogram-3, Shafiqul Islam of Sirajganj-4, Sheikh Anarkali Putul of Women seat-30, Matiar Rahman of Lalmonirhat-3,Kanan Ara Begum of women seat-32, SK Ekramuzzaman of Brahmanbaria-1, Abdul Motallib of Chattogram-13, Jarati Tanchangya of women reserved seat-48, Motaharul Islam Chowdhury of Chattogram-12, Nazma Akhter of Women seat-37, Motahar Hossen of Lalmonirhat-1, Faridun nahar Laily of women seat-43, Imran Ahmed of Sylhet-4, Mohammad Wakil Uddin of Dhaka-11, Ahmed Hossain of Netrokona-5, Aparajita Haque of Women Seat-20, Md. Ashrafuzzaman of Satkhira-2, Mr.A.K.M Bahauddin of Cumilla-6, Shamima Haroon of Women Seat-45,Salim Mahmud of Chandpur-1, Shahdara Mannan of Bogura-1, Md. Abdul malak Sarkar of Mymensingh-6, Md. Abdur Rashid of Jamalpur-4 Most. Jannat Ara Henry, of Sirajganj-2, took part in the discussion.

Earlier, they paid their cordial tributes to the memory of Father of the Nation Bangabandhu Sheikh Mujibur Rahman, four national leaders, martyred Freedom Fighters and also those who made their utmost sacrifices during the War of Liberation and all subsequent democratic movements in the country.