DHAKA: Finance Minister Abul Maal Abdul Muhith Monday announced a plan to take the national expenditure up to 20 percent of the total gross domestic product (GDP) in the next three years, as the government opts for expansionary growth.

The minister made the statement in parliament while wrapping up discussions on the supplementary budget for the current fiscal 2009-2010.

He said, ” Public expenditure of the country is very poor and it has been increased this time. We hope the total expenditure would reach 16.9 percent of GDP this year and 20 percent within next three years.”

The day’s parliament session started at 11:00 am with deputy speaker Shawkat Ali presiding. Prime Minister Sheikh Hasina was also present at the time.

The House passed the Appropriations (Supplementary) Bill 2010 approving additional government spending in the outgoing fiscal year 2009-10.

Finance Minister Muhith said price of sugar rose with the proposed raise in import duty on the item. Besides, other essential commodities, including rice, are also soaring after the budget-presentation, he deplored.

People should come out from this kind of tendency. "There should be no relation between budget announcements and price rises," said the custodian of the exchequer.
 
“The last budget was termed highly ambitious by a certain section. But, we reached the target. The taxpayers and tax administration contributed a lot in this connection,” he told the lawmakers.

Finance Minister Muhith admitted that the government had limited capacity to implement the annual development programme. “We have to find out new ways and ideas in generating more revenues.”

Among others, State Minister for Housing and Public Works Abdul Mannan Khan, and parliament members Fazle Rabbi Mia and professor Ali Ashraf joined the supplementary budget discussion.

BDST: 05:39 Hrs, June 14, 2010.
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