A transfer of tax assistance and food aid is immediately required for disadvantaged and disadvantaged groups of people, as food prices have risen dramatically in fiscal year 2020-21 against the reduction in income and employment. , according to a research study report, revealed Sunday.
“Thus, in the execution of the national budget 2021, one of the main concerns should be to expand support through tax transfers and food support,” noted the report, published by the Citizen’s Platform for SDGs, Bangladesh.
“Although the general inflation rate remained more or less stable in June of fiscal year 21 (around 5.6%), food inflation fell from 5.41% to 5.84% in the year last, and it reached almost 6.0% until June of this year, “said Dr Debapriya Bhattacharya, coordinator of the platform, while presenting the results of the study at a virtual event. .
The study – âNational Budget Execution 2021 in the Context of the Pandemic: Securing the Interests of Disadvantaged Peopleâ – suggested that execution of such support could be ensured by upgrading the database and engaging community (non-governmental) actors.
The study also identified four major concerns for exercise 22.
Dr Debapriya said food prices (inflation) should be kept âlow and stableâ by strengthening the public procurement mechanism, the functioning of WHO (sale on the open market) and developing FFW (food for work) programs.
This was a big concern in 2021, as people “pushed back by Covid” joined the “poor left behind”, but there was not enough support for them.
He further suggested that disadvantaged communities should be included as a priority in the national immunization program in partnership with private development organizations and public bodies working with them.
The study, conducted from the perspective of ‘leaving no one behind’ (LNOB) – a central and transformative promise of the 2030 Agenda for Sustainable Development Goals (SDGs), suggested that pro-LNOB preparation is needed. necessary for post-Covid recovery.
Dr Debapriya also said the new figure brought some sanity back into the estimates of GDP growth, gave credibility to the Bangladesh Bureau of Statistics (BBS) and restored corporate rules regarding preparedness. national accounts of the country.
The study document mentioned that the final figure of the GDP growth rate, provided by the BBS for the fiscal year 2019-2020, was 3.51%, which is less than the target rates (8.2%) or even revised (5.5%).
“This is in line with the post-budget criticisms of the Citizen’s Platform for the SDGs,” he noted.
The BBS released the final GDP estimate for FY20 almost a year later, as well as the provisional GDP estimate for FY21, which was usually released before the end of a fiscal year and cited in the budget speech.
According to the provisional estimate of the BBS, the GDP grew by 5.47% in fiscal year 21.
Dr Debapriya felt that this would decrease later.