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Wednesday, 07 May 2008

Annual Budget 2008-9

As we have come to know the size of the budget for the fiscal year 2008-9 may cross Tk 100,000 crores , with enhanced expenditure in different social sectors that will aim at reducing public sufferings caused by price spiral of food and other commodities . This is an increase of around 21,000 crores over the current fiscal year budget.. This increase in the size of the next budget is due to additional expenditure required for salary increases of government employees and non government school-teachers by about 20 percent because of price hike of essentials , with increased subsidies for food and other essential needs for the disadvantaged people such as healthcare , and other programmes for ensuring the social safety net.. The safety net programmes for the poor will be increased to Tk 9000 crores These increases amount to one per cent of the GDP .This increased allocation in the budget will secure employment for around 20 lakh of the poor , by working in the projects of the public works programmes . Besides , the budget will also aim at implementing government programmes that will create work opportunities for the poor for at least nine months in the year. Other elements of the programmes to be enhanced for widening the safety net include Food for Work, , Vulnerable Group Feeding  , Vulnerable Group Development , Test Relief and Open Market Sales .These safety net programmes will be expanded in the next fiscal year so that more people are benefited . It is the responsibility of the state to intervene in providing social relief for the poor , and most particularly for those below the poverty line. This is needed from elected as well as caretaker governments in our country , and the governments of countries with both capitalist and socialist economies . We look forward to the finalisation of the budget with the enhanced allocation for widening the social safety net .

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