& çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð

Saifur's winding up speech in JS

Budgets are political instruments

By Staff Correspondent
Finance Minister M Saifur Rahman yesterday defended the proposed budget, which has been termed a pro-election budget, saying that every budget is an important political instrument of a country and its political implications cannot be ignored
"It is a sound political document, a document of social harmony. So, its implication cannot be ignored," the Finance Minister said while winding up the discussion on the budget for the 1995-96 fiscal year.
Refuting the criticism of Awami League chief Sheikh Hasina that the budget was drafted with an eye on influ-
encing the voters, he said "If the people are influenced by a sound and pragmatic budget we have nothing to do."
The Finance Minister assured that the BNP government under Prime Minister Begum Khaleda Zia if returned to power in the next general elections, would successfully implement each and every aspect of the budget.
"But I cannot guarantee anything if it falls into inept hands as in 1972. God forbid, that will not happen," Rah man said in the presence of Leader of the House Prime Minister Begum Khaleda Zia.
Pointing out facts and figures, he said that the BNP
government had never hoaxed the people.
"What I nave done, I have done professionally. I never did, and will never do, anything for mere expediency," Rahman said in his one-and-a-half-hour long speech amid cheers from his party MPs.
The Finance Minister said during the last four years the BNP government did not impose new taxes, rather it reduced tariffs from time to time in different sectors.
As many as 55 members took part in the discussion on the budget over four days.
Saifur Rahman said that during the autocratic regime the budgets bluffed the people-
Citing an example, he said that in his last budget after the assassination of President Ziaur Rahman in 1981 he had shown a revenue surplus to the tune of Taka 827 crore but in the revised budget it stood at Taka 861 crore.
But during the Ershad regime, he said, revenue sur plus in 1982-83 was shown at Taka 1193 crore although in the revised budget it came down to only Taka 700 crore.
He further said that again, in 1986-87, an amount of Taka 761 crore was the actual revenue surplus although it was shown in the budget as Taka 1100 crore. Similarly in 1987-88, the revenue surplus was Taka 416 crore as against Taka 838 crore projected in the budget, he added.
Saifur Rahman said in 1989-90 Taka 1004 crore was shown in the budget as rev enue surplus but the actual figure was only Taka 33 crore.
On the other hand, he told the House, in the revised budget for fiscal 1991-92 the revenue surplus stood at Taka 1970 crore although in the original budget it was shown at Taka 1014 crore.
Giving details, he said in the 1992-93 budget an amount of Taka 2454 crore was projected as revenue surplus but in the revised budget it stood at Taka 2550 crore.
In 1993-94 the revenue surplus was shown at Taka 3035 crore although it rose to Taka 3130 crore in the revised budget, he said.
He further said that in the outgoing fiscal 1994-95, the revenue surplus rose to Taka 3910 crore as against Taka 3689 crore projected in the original budget.
Saifur Rahman said that during the next fiscal 1995-96, a sum of Taka 4380 crore was shown as expected revenue surplus but this might go up to Taka 4500 crore.
The minister observed that the budget was the only document for establishing social harmony and therefore its political implications could not be ignored.
He said that during the Awami League rule, the Highest income tax rate was fixed at 70 per cent while the BNP fovernment had reduced it to 5 per cent.
The rate of inflation during the Awami League retime was 66 per cent while the BNP
Kvernment had brought it wn to only 3.5 per cent.
The opposition parties had termed every past budget anti-people' Now they were criticising this as a 'pro-polls one, the Finance Minister said, adding: "I cannot under stand what kind of budget they want."
He said this government was still carrying the legacy of a shattered economy left by the autocratic ruler
During late president Ziaur Rahman's period, 66 per cent of the budget was allocated for the development sector while the revenue expend! ture was 33 per cent During the Ershad regime the situa tion reverted and turned worse
During the last four years the government of Begum Zia had mended the shattered economy and tried to put it in order.
"Again, this time the de velopment budget is higher than the revenue budget," Rahman said.
Between 1985 and 1990 the revenue earnings rose by 16 per cent on an average annually while the expenditure soared to 20 per cent. But in the 1991-95 period, the rev enue earnings rose at a rate of 20 per cent whi^e the expenditure dropped to 10 per cent.
"This is an indicator of steady economic progress," Rahman added
He said expenditure has been reduced in unproductive sectors and the earnings were increased by economic-liberal isation.
BSS adds: The Finance Minister asserted that the tax-GDP ratio in the next fiscal year would increase by at
least 0.5 per cent.
He said that the BNP government had successfully elevated the investment climate by pursuing a transparent and accountable financial atmosphere coupled with healthy fiscal measures and a stable monetary policy.
Dismissing the criticism of a section of economists who alleged that capital invest ment had reduced during the year, the Finance Minister said that textile machinery worth Tk 800 crore were imported during the current fiscal which proved that these economists who had little understanding of the real muscle of the economy were either wrong or motivated.
Ranman said that in reality investments, both from home and abroad in productive sectors, were on the increase. In the export-import field, the country's exports grew by 38 per cent as against an 18 per cent increase in imports.
He said that imports of consumer goods had shrinked while imports of raw materials and capital machinery en hanced, which was testimony to the growing activities of the country's industrial sec tor.
He informed the House that in the budget for 1995-96, a sum of Tk 8,600 cror^ was given for physical infrastructure development and Tk 1,500 crore for poverty alleviation.