Prime Minister Tarique Rahman on Monday described the proposed national budget for FY2026–27 as a “life-friendly budget”, saying it aims to provide relief to people from all walks of life while helping the country recover from the economic challenges inherited by his government.
Speaking in the general discussion on the proposed budget in Parliament, he said the government had presented a realistic and people-oriented fiscal plan that helped keep the prices of essential commodities stable after the budget announcement, unlike in previous years.
“I would like to call this budget a ‘Jibon Bandhob Budget’ (life-friendly budget). Using our highest wisdom, conscience and knowledge, we have tried to prepare a budget through which people from all classes and professions can receive at least some relief and comfort,” the Prime Minister said.
The parliamentary sitting began at 10:30am with Speaker Hafiz Uddin Ahmed in the chair. Leader of the Opposition Shafikur Rahman took part in the budget debate before the Prime Minister addressed the House as Leader of the House.
Describing the budget as one of the government’s most important policy instruments, Tarique said every effort had been made to place a practical and realistic budget before Parliament.
“No budget can solve every problem overnight. The realities are difficult. Even so, we have tried to formulate a budget that will provide at least some relief to people from all walks of life,” he said.
Highlighting consumer-friendly measures, the Prime Minister said the government had withdrawn taxes and duties on 61 essential commodities.
He said previous budgets were often followed by sudden and unjustified increases in the prices of daily essentials before and after their announcement.
“By the grace of Almighty Allah, we did not witness such abnormal price hikes this time. By removing taxes on essential goods, we believe we have fulfilled at least part of our responsibility to the people and provided them with some relief,” he said.
Tarique acknowledged that no budget could satisfy everyone but said the government had carefully balanced public expectations with economic realities while preparing the fiscal plan.
The Prime Minister also outlined the economic conditions his government inherited after assuming office on 18 February. He said corruption, mismanagement, looting of public resources and flawed policies had severely weakened the country’s economy.
“We inherited a broken economy. Corruption, looting, mismanagement and wrong policies had seriously damaged the country’s economic foundations,” he said.
He said years of capital flight, weak investment and high inflation had left ordinary people under severe financial pressure.
“Thousands of crores of taka were siphoned out of the country. Production and investment had almost stagnated. Inflation had reached a level that people felt in their everyday lives,” he said.
The Prime Minister also referred to the difficulties in the capital market, saying many investors had lost their savings while foreign exchange reserves came under heavy pressure because of capital flight and wasteful spending.
“The stock market, a vital sector of the economy, reached a point where many people lost everything. Some even took their own lives after losing their savings,” he said.
He alleged that several large projects undertaken by the previous administration had become a burden on the nation because they generated little revenue despite being financed through domestic and foreign borrowing.
“Many vanity projects were implemented through unnecessary borrowing. Those debts have now become a burden on the nation and will continue to be repaid for years,” he said.
While acknowledging that economic challenges remain, Tarique said the government would neither deny the crisis nor use it as an excuse for inaction.
“We do not want to deny the crisis, nor can we afford to do so. That would be foolish,” he said.
Agreeing with several observations made by the opposition leader, the Prime Minister said the government was committed to addressing the country’s problems through political goodwill, effective policies and public support.
“We want to overcome these challenges successfully with the people by our side through political goodwill and effective policies,” he said.
Tarique said the government had to manage the holy month of Ramadan shortly after taking office while ensuring essential commodities remained affordable for ordinary people.
He expressed confidence that Bangladesh would gradually overcome its economic difficulties and move towards greater stability and growth.
Members of the treasury bench repeatedly thumped their desks in support as the Prime Minister defended the government’s economic policies and budget proposals.
He said the ongoing budget session reflected Bangladesh’s democratic progress, as lawmakers from different political parties and independent members were able to debate national issues in a civilised manner.
The Prime Minister credited the people of Bangladesh for creating an environment that allowed constructive political dialogue.
“If credit has to be given, it should go to the country’s 20 crore people. Because of their support and cooperation, we have been able to sit together, exchange views and create a path for moving the country forward,” he said.
Referring to the situation before the political transition on 5 August, Tarique said Bangladesh had faced serious challenges in politics, society, the economy, education and healthcare.
He said the country had gradually moved towards a democratic environment where elected representatives could debate national issues in Parliament in a civilised manner.
The Prime Minister said that while much discussion had centred on the past, the country’s focus should now shift towards the future.
“We have discussed the past extensively. But we must move forward and concentrate on building the future,” he said.
On 11 June, Finance Minister Amir Khosru Mahmud Chowdhury placed the proposed national budget for FY2026–27 in Parliament, proposing a Tk9.38 lakh crore outlay aimed at containing inflation, reducing the cost of living, stimulating investment, strengthening social protection programmes and maintaining fiscal discipline.
