Proposed budget ‘overambitious,’ says political parties

Activists of the Jamaat-e-Islami stage protests in the capital, calling the budget "anti-people" and "oppressive"

Several political parties have described Bangladesh's proposed budget for fiscal year 2026-27 as "overambitious", saying it will be difficult to implement, although some groups welcomed certain aspects of the spending plan.

Finance Minister Amir Khosru Mahmud Chowdhury unveiled a proposed budget of Tk 9.38 trillion in parliament on Thursday.

Activists of the Dhaka metropolitan unit of Jamaat-e-Islami staged protests in the capital, calling the budget "anti-people" and "oppressive".

The party said it would issue a formal response on Friday, while some other political groups have also announced protest rallies.

Political leaders said one of the government's key challenges would be increasing investment and creating new jobs.

'Difficult to Implement': Jatiya Party

Jatiya Party Secretary General Shameem Haider Patwary said the proposed budget was not realistic and its targets would be impossible to achieve.

"The budget is not implementable. The targets set in the budget will never be achieved," he said in an immediate reaction.

"As a result, the government will have to borrow to finance development spending under the Annual Development Programme (ADP), while salaries and other revenue expenditures may also have to be funded through loans."

He said such borrowing would have a significant impact on the economy.

"If salaries are increased and a new pay scale is implemented, it will put pressure on the private sector as well. We see a strong possibility of inflationary pressure. There is no clear guidance in the budget on controlling inflation, nor are there proper directions for employment generation," he said.

Patwary also criticised what he described as inadequate allocations for the development of Bangladesh's riverine Char (shoal) areas.

'Overambitious and Detached from Reality': NCP leader

The National Citizen Party (NCP) said it would provide its formal response to the budget on Friday.

However, lawmaker Atik Mujahid, head of the party's shadow budget committee, wrote on Facebook that the proposal was "extremely ambitious and detached from reality".

"Although the government estimates the budget deficit at around Tk 2.5 trillion, the actual deficit could approach Tk 4.5 trillion," he said.

"The proposed revenue collection target of Tk 6.95 trillion is impossible to achieve under current economic conditions. In my view, the revenue shortfall could exceed Tk 2 trillion. Taking that into account, this may become the largest deficit budget in Bangladesh's history."

No Clear Roadmap for Employment: Ganatantrik Jukto Front

The Ganatantrik Jukto Front, a coalition of 10 left-wing political parties, said the proposed budget failed to provide a clear roadmap for creating new jobs.

In a statement, Rajekuzzaman Ratan, assistant general secretary of the Bangladesh Samajtantrik Dal (BaSaD), said sectors such as education, healthcare and agriculture remained neglected.

Alliance leaders said the long-standing provision allowing the whitening of undisclosed income had been retained despite concerns that it conflicted with constitutional principles.

They also questioned how the government intended to achieve its ambitious revenue collection targets, noting that the current fiscal year's revenue goals had not been met.

An Empty Budget: CPB

The Communist Party of Bangladesh (CPB) described the proposed budget as "anti-people" and said it could not welcome the spending plan.

In a statement, CPB President Kazi Sajjad Zahir Chandan and General Secretary Abdullah Kafi Ratan said the budget was large in size but appeared weak in terms of implementation.

"The proposed budget is large in monetary terms, but it appears hollow and ineffective when it comes to implementation. It offers little hope for reducing living costs or creating new employment opportunities. This budget will increase inequality," the statement said.

The party also said the budget lacked a clear strategy for tackling persistently high inflation.

According to the CPB, there was little reason to be confident that the government's targets for economic growth and lower inflation would be achieved.

The party said it would present a more detailed assessment of the budget on Friday.