Bangladesh Bank governor Dr Atiur Rahman on Thursday expressed the hope that the GDP growth rate will reach eight per cent by 2014 if the government maintains upward trend in use of internal resources.
The 6.7 per cent gross domestic product (GDP) growth rate in the ongoing fiscal year has made BB chief very much optimistic. Any attempt at making the budget decentralised, participatory and accountable will go a long way in achieving the cherished goal, he viewed.
"I hope the GDP growth will cross 7.0 per cent in the upcoming fiscal year (FY), in 2012-13 FY it will touch 7.5 per cent and in 2013-14 FY it will be 8.0 per cent," The central bank governor said while making PowerPoint presentation at a seminar in the capital.
Dhaka School of Economics (DScE) and Bangladesh Economic Association (BEA) arranged the seminar on "National Budget Making: Bottom Up Approach and Inclusiveness."
BEA vice-president Jamal Uddin moderated the event where Chairman of Parliamentary Standing Committee on Public Accounts Mohiuddin Khan Alamgir was present as chief guest.
The governor said rapid reduction of poverty is the main objective of the budget and the last several budgets contributed significantly towards achieving the goal as the rate of ultra poor has come down to 31.5 per cent, the percentage of which was nearly 40 in 2005.
"The performance is very much encouraging and it indicates that Bangladesh economy is in a much better position," Mr Rahman said after citing a recent data released by Bangladesh Bureau of Statistic (BBS).
The BB governor also stressed the need for introducing performance budget to verify the public expenditure as the initiative will ensure proper execution of the budget.
Highly appreciating the performance of National Board of Revenue (NBR), he said an initiative is needed to strengthen the professional and technical capacity of the revenue administration to monitor potential tax payers, counting tax evasion and transform it into a quality institution to meet revenue needs.
Speaking as chief guest, Mohiuddin Khan Alamgir said investment should be the main challenge in the coming budget as both types of investment (local and foreign) can ensure employment, which is one of the key indicators of overall development.
He said budgetary allocation should be increased in sectors like development and research, local government, power and energy, education and social safety net in the coming budget for 2011-2012 FY.
The 6.7 per cent gross domestic product (GDP) growth rate in the ongoing fiscal year has made BB chief very much optimistic. Any attempt at making the budget decentralised, participatory and accountable will go a long way in achieving the cherished goal, he viewed.
"I hope the GDP growth will cross 7.0 per cent in the upcoming fiscal year (FY), in 2012-13 FY it will touch 7.5 per cent and in 2013-14 FY it will be 8.0 per cent," The central bank governor said while making PowerPoint presentation at a seminar in the capital.
Dhaka School of Economics (DScE) and Bangladesh Economic Association (BEA) arranged the seminar on "National Budget Making: Bottom Up Approach and Inclusiveness."
BEA vice-president Jamal Uddin moderated the event where Chairman of Parliamentary Standing Committee on Public Accounts Mohiuddin Khan Alamgir was present as chief guest.
The governor said rapid reduction of poverty is the main objective of the budget and the last several budgets contributed significantly towards achieving the goal as the rate of ultra poor has come down to 31.5 per cent, the percentage of which was nearly 40 in 2005.
"The performance is very much encouraging and it indicates that Bangladesh economy is in a much better position," Mr Rahman said after citing a recent data released by Bangladesh Bureau of Statistic (BBS).
The BB governor also stressed the need for introducing performance budget to verify the public expenditure as the initiative will ensure proper execution of the budget.
Highly appreciating the performance of National Board of Revenue (NBR), he said an initiative is needed to strengthen the professional and technical capacity of the revenue administration to monitor potential tax payers, counting tax evasion and transform it into a quality institution to meet revenue needs.
Speaking as chief guest, Mohiuddin Khan Alamgir said investment should be the main challenge in the coming budget as both types of investment (local and foreign) can ensure employment, which is one of the key indicators of overall development.
He said budgetary allocation should be increased in sectors like development and research, local government, power and energy, education and social safety net in the coming budget for 2011-2012 FY.
Sir Inflation growth rate ta bolen suni
ReplyDeleteoitao to important naki ???