[ALOCHONA] BNP's budget proposals

BNP's budget proposals

Dhaka, June 8 (bdnews24.com) — Main opposition BNP has presented its alternative budget proposal.

On the eve of national budget 2011-12, BNP chairperson Khaleda Zia presented her party's alternative budget proposals for the fiscal at Ruposhi Bangla Hotel, Dhaka on Wednesday.

In its proposal, BNP said the nation is in the worst macro-economic crisis in the last two decades.

Key proposals the party presented in its budget are as follows:


VERTICAL COOPERATIVES IN AGRICULTURAL SECTOR

BNP recommended that vertical cooperatives be introduced so that peasants have direct control over different stages of cooperatives.

It suggested that Bangladesh Rural Development Board (BRDB) be allocated Tk 5 billion for this purpose.


REHABILITATION OF AILA VICTIMS

The opposition said the government did not take initiatives to repair the damaged embankment nor made any attempt to recover from the loss occurred in the AILA affected areas.

It proposed to take up a multipurpose project of around Tk 1.5 billion.


LAND RECLAMATION IN COASTAL AREA

BNP said that in the coastal areas, programmes to cope with climate change impacts are limited to mainly adaptation programmes.

It proposed allocating money for a detailed economic and scientific project for large scale reclamation of land.


INFORMAL SECTOR

The opposition stated that workers of informal sector account for 70 percent of the total employment.

It proposed to take up a project for training, educating, providing healthcare services and reducing physical labour for the workers of this sector.


AID TO OVERSEAS WORKERS

BNP proposed 'foreign employment loan' without interest for expatriate workers.

The party was hopeful the workers will be able to reimburse this loan from their earnings.

The amount of this loan will be determined on the geographic location of the country.


SAVING CERTIFICATE

During the first nine months of this year, 70 percent investment in saving certificates was reduced, leading to enhanced dependence on banking system for credit, BNP said.

BNP proposed to withdraw tax reduction at source on saving certificate.

Additionally, it proposed inflation indexed savings certificate for the pensioners and rationalising interest rate on other saving certificates.


INCOME TAX CEILING

BNP proposed to fix limit of tax free income at Tk 300,000 from the present limit Tk 165,000, saying it needs to be adjusted because of increasing inflationary situation.


VALUE ADDED TAX (VAT)

BNP proposed to reduce lumpsum VAT collection from small businessmen by 25 percent and not to expand base of VAT in the coming fiscal year, considering the inflation.

Additionally, it proposed to withdraw VAT from the doctor's fee, tuition fees of private universities, house/office rent and transport fare.


OLD HOMES

Stating that the vulnerability of this group had increased, BNP proposed a 100-bed old home, initially, at every Upazila of the country for the security and welfare of senior citizens.


LARGE INFRASTRUCTURAL PROJECTS

BNP said the projects it was contemplating for large infrastructural development included high speed rail (250 -300 km/hr) connection among divisions, six-lane highway between Dhaka-Chittagong, construction of a second Padma Bridge and second Jamuna Bridge with railway connections.


TEXTILE INDUSTRY

The opposition said spinning mills of Bangladesh are going through an adverse period. 34 spinning mills out of 341 have been shut down, it said.

The European Commission lowered the Rules of Origin by one step in the GSP facilities given to Bangladesh, resulting in increase of fabric import from India and other countries.

It has put the spinning and textile industry into great risk, BNP said. Therefore its proposals are:

• To examine whether India is dumping in the spinning and textile sector or not and to raise the issue with the respective international organisations.

• Cash incentives of 8 percent instead of 5 percent to the textile industry.

• Establishment of a 'textile rehabilitation fund'.

• Lowering interest rate for textile and spinning industry.

• 15 percent of cash incentives to the handloom industry.

http://jugantor.us/enews/issue/2011/06/09/news0030.htm
http://www.thedailystar.net/newDesign/news-details.php?nid=189216

__._,_.___

[Disclaimer: ALOCHONA Management is not liable for information contained in this message. The author takes full responsibility.]
To unsubscribe/subscribe, send request to alochona-owner@egroups.com

Your email settings: Individual Email|Traditional
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch to Fully Featured
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe

__,_._,___