Finance
CPD Revenue shortfall could hit Tk 82,000 cr: CPD
Dhaka, March 16: In the current fiscal year 2023-2024, the government is going to face a huge revenue deficit. Centre for Policy Dialogue (CPD) believes that there may be a deficit of Tk 82,000 crore at the end of this financial year after observing the current trend of revenue collection for the last six months.
Fahmida Khatun, executive director of the organization, gave this information at the presentation ceremony of the national budget 2024-25 at the CPD office in Dhanmondi on Saturday morning.
Fahmida Khatun said in her presentation that the budget is going to be formulated at a time when the overall economy is in a negative trend. High inflation in the country, liquidity crisis in banks, low and slow pace of budget implementation, low foreign exchange reserves and low export earnings and remittances.
"In this context our macroeconomic stability is not where it should be, especially high growth and low inflation among other indicators that we would like to see. Rather, it is under extreme pressure. The reasons for this are both international and domestic," she said.
According to CPD, the country's economy is under pressure due to various reasons including slow revenue collection, inflation and dollar crisis.
"As a result we have lost macroeconomic stability. Restoring that stability will be the main objective of the next fiscal year 2024-25 budget," CPD executive director said.
Fahmida Khatun said that the budget is prepared for one year. The directions in the budget are to take steps to meet the challenges. Reducing the pressure of inflation, maintaining the stability of the exchange rate and looking at the interests of the poor people. The recommendations of the CPD include NBR taking a stronger role in preventing money laundering, closing the scope for legalization of undisclosed income, stopping harassment of tax payers, making EFD instruments available, reducing VAT on medicines.
