Amid a backdrop of global economic instability, Obaidul Quader, the General Secretary of Bangladesh’s ruling Awami League, declared the proposed national budget for the fiscal year 2024-2025 as a “realistic” and “pro-people” financial plan.
His remarks came shortly after Finance Minister Abul Hassan Mahmood Ali presented the Tk7.97 lakh crore budget in the Jatiya Sangsad Bhaban on Thursday.
Quader, who also serves as the Road Transport and Bridges Minister, underscored the government’s commitment to addressing pressing economic concerns, particularly the rising cost of essential goods.
“At the time of current global crisis, a pro-people budget has been proposed. This budget has been prepared taking into consideration the promises and priority sectors mentioned in the party's election manifesto,” he stated.
In response to journalists’ queries about potential influence from the International Monetary Fund (IMF), Quader firmly denied any external prescriptions.
“The budget was not prepared following anyone's prescription as the Sheikh Hasina-led government does not follow anyone's prescription,” he said.
Prime Minister’s Diplomatic Engagements
Amidst the budget announcement, Quader also revealed Prime Minister Sheikh Hasina’s upcoming visit to India to attend the swearing-in ceremony of newly elected Indian Prime Minister Narendra Modi. This visit highlights the ongoing diplomatic efforts between the two neighboring countries, which share a complex history and significant economic ties.
Besides, the proposed budget has sparked varied reactions across country’s political landscape. Supporters within the Awami League praise its focus on essential sectors and measures to control commodity prices. This is particularly critical as inflation has been a significant issue affecting the daily lives of ordinary Bangladeshis.
However, opposition parties have raised concerns about the feasibility and execution of the proposed measures. Critics argue that while the budget sets ambitious goals, its successful implementation in the face of a turbulent global economy remains uncertain. Public Concerns and Expectations
Among the public, there is cautious optimism. Many citizens are hopeful that the government’s focus on controlling prices will provide some relief from the economic pressures they face daily.
