Bangladesh PM for contractionary budget, inflation check

Noting strategies adopted by developed nations like the United States and Japan, where policy interest rates were increased to combat inflation, Hasina urged similar measures in Bangladesh.

During the meeting, Hasina underscored the importance of prioritising commitments outlined in the government’s election manifesto for the upcoming budget even as she stressed the continuation of existing austerity measures across various ministries and divisions.

Furthermore, Hasina instructed the National Board of Revenue (NBR) to expand its tax base rather than burdening existing taxpayers, while also calling for measures to enhance revenue collection.

Expressing discontent over import of luxury goods, she specifically mentioned her dissatisfaction with items like plastic flowers.

In addition, Hasina urged the Finance Ministry to consider expanding the reach of social safety net programmes to benefit more citizens.

Fibre2Fashion News Desk (DR)