The government has intellectually identified the forthcoming economic challenges but failed to set policies in overcoming those in the proposed national budget for the fiscal year 2024-25, said Dr. M.A. Razzaque, research director of the Policy Research Institute (PRI).

The government is hoping to contain inflation at 6.5 percent while it is eying to attain a GDP growth target of 6.75 percent in the next fiscal year 2024-25.

Responding to a query, Razzaque said, “Inflation is our first enemy and we are currently facing 10 percent inflation. The policies set in the proposed budget will not work effectively to contain inflation.”

When asked whether the budget is implementable, he said no government has so far been able to ensure 100 percent implementation of any national budget in the country.

Claiming that the usual rate of implementation of the national budget is 80 to 85 percent, he said the government could have made the proposed budget implementable by reducing some current expenditure and its size.

When asked whether the proposed budget is business or investment-friendly, Razzaque said the national budget will not be more helpful in effectively garnering local and foreign investment.  

About the people's welfare, he said the finance minister proposed an allocation of Tk 1,36,026 crore for the social safety net programme, which is not enough to ensure the welfare of the common people.