Next budget is prepared eyeing to deal with all possible contingencies of the next financial year in the wake of coronavirus reality and its predicted economic fallout, Finance Minister AHM Mustafa Kamal is expected to say on Budget Day.
“This budget is completely different in this epidemic of coronavirus. It is not a conventional budget. It is not possible to plan income or expenditure in the current volatile situation. As a result, it is a contingency budget or an emergency budget,” according to his budget speech which is supposed to be placed before national parliament on Thursday.
We have decided to address Covid-19 pandemic situation in three phases — an immediately short, medium and long-term plans of the stimulus package — as a step towards overcoming this crisis, the budget speech details.
So, the government has to face the situation with patience and courage in this critical time, the minister said.
“Witness history, Bengali nation is a nation of heroes. Throughout the ages, there have been many disasters and crises in the national life,” he said adding “The Bengali nation has got rid of those disasters as a result of its concerted effort.”
He said the national budget is a very important aspect of a country's people, which must be followed to prepare certain specific bases; but now the picture of certain specific bases is not fully in front of us. Minister also said due to the global epidemic coronavirus, it has become completely uncertain.
Kamal said, “There is no specific plan for income or expenditure. The income sources are, of course, very fragile now. And it has become difficult to spend as per the plan for different sectors.
“Apart from that, a basis is also required to present something conjectural. But we are presenting considering the current context,” he said.
Minister said, “We present this budget entirely on the basis of a combination of our past achievements and the current situation.”
