CPD criticises lack of directive for economic recovery

Rafikul Islam

The proposed budget for 2021-22 fiscal year lacks proper directives for economic recovery from the ongoing Covid-19 pandemic, the Centre for Policy Dialogue said Thursday in its instant reaction.

“The budget did not reflect the steps or measures needed to address the ongoing covid crisis and post Covid-19 economic recovery,” CPD Executive Director Fahmida Khatun told a virtual conference.

She said the lack of proper directions would make implementation of the proposed budget “very challenging”.

The allocation for health sector, education and social safety net should be increased further to address the challenges posed by the pandemic, she said.

Fahmida said the Small and medium-sized enterprises sector generates the most employment, yet basically the owners of the large industries received the government’s stimulus funds.

“Allocations for the [SME] sector must be increased. Also, the stimulus has basically been provided through banks. Yet many small entrepreneurs do not have bank accounts. That is why their loans should be provided through NGOs. This can be effective in increasing employment,” Fahmida said.