Proposed budget unrealistic: Rumeen Farhana

Member of Parliament for Brahmanbaria-2 Rumeen Farhana has described the proposed Tk9.38 lakh crore budget for 2026-27 as unrealistic and unimplementable, comparing it to “the dream of an MP named Mofiz, who earns a salary of Tk1,76,000, aspiring to build a house with a swimming pool on 3 acres of land in Dhaka.”

Speaking in the general discussion on the proposed budget on Thursday, the MP questioned the government’s revenue targets and flagged concerns over the banking sector, foreign loans, and growing inequality.

“In the Tk 9,38,000 crore budget, the revenue target has been set at Tk6,95,000 crore, of which Tk6,04,000 crore has been burdened on NBR. In the previous fiscal year, NBR could not collect more than Tk3,26,000 crore by April. I cannot understand how NBR will collect Tk6 lakh crore,” she said.

Rumeen Farhana warned that failure in revenue collection would increase dependence on bank and foreign loans. “If the government takes Tk1,12,000 crore from banks, private sector credit will decrease. There is currently a severe investment recession due to gas and electricity shortages, bureaucratic complexities, and high interest rates.”

She noted that Bangladesh ranks 168th out of 190 countries in the Ease of Doing Business Index. “Without investment, there will be no employment, which is why our growth is called ‘jobless growth’.”

The MP highlighted the dire banking sector, saying bad loans amount to Tk6,44,000 crore. “If money stuck in write-offs, rescheduling, and litigation is added, the total would be Tk 11 lakh crore – about 60 percent of total loans.”

She also noted that foreign debt, including government and private sector, stands at $133 billion, with 13.59 per cent of the budget set aside for interest payments.

Criticising the tax-free income limit of Tk3,75,000 in a country with 10 percent inflation, Rumeen Farhana said, “A person earning Tk32,000 per month cannot be considered middle class. The Gini coefficient is now 0.499, indicating high inequality. Yet the tax burden is being placed on salaried individuals.”

She noted that health allocation is only 0.9 percent of GDP and education 1.8 percent, below WHO recommendations.

Deputy Speaker Kayser Kamal presided over the session. The independent MP also raised constituency issues, including community clinics and road repairs.