Finance Minister AHM Mustafa Kamal told that the budget of this year has been presented with an emphasis on increasing productivity by giving importance to technical and technological education in every sphere of life to increase gross domestic product (GDP).
He said, ‘The formula we have undertaken to increase productivity is 1:4. If we invest in taka 4, we will get taka 1. I think that much is not required. With less, you will get more output, if you can increase productivity. We trust on this point. We, therefore, are trying to increase productivity.
Referring to the Prime Minister’s directive, the Finance Minister further said that our technical education complements the Fourth Industrial Revolution, mastering it, how we can use it, how we can get involved there, she has always been telling us in this regard. We are also thinking in that direction.
For this, the government is giving importance to those who can bring the technologies of the fourth industrial revolution to Bangladesh and increase their use, said AHM Mustafa Kamal.
Therefore, in the case of investment, besides direct investment, indirect investment should also be considered, the finance minister said.
He said there was very little technical education before. Now we are focusing more on technical and technological education.
Finance Minister AHM Mustafa Kamal also mentioned that the proposed budget allocation and duty-tax structure has been made employment friendly by utilizing this technological power.
“We want to use the ‘Made in Bangladesh’ tag line,” he said. Additional opportunities have been given to our domestic products. However, it is not that what you have seen in the budget will be as it is, we will be somewhat flexible. I will change more, I will never increase. We will always reduce taxes and VAT if necessary.
Regarding employment, the minister said, ‘There are specific provisions in the budget regarding employment. The whole budget is business-friendly. I think businessmen will take the opportunity. And taking opportunities by businessmen means going into production. That production will be done by the people of our country. How do people do this if they are not employed? That’s why we think the businessmen will do it. We have given opportunities to traders, we are committed.
Finance Minister expressed his views at a post-budget press conference for the fiscal year 2021-2022 organized Virtually on Friday (June 4).
Moshiur Rahman, the Economic Adviser of Prime Minister, Abdur Razzak, Minister of Agriculture, MA Mannan, Planning Minister, Bangladesh Bank Governor Fazle Kabir, Finance Secretary Abdur Rauf Talukder, Shamsul Alam, Member of the General Economics Department of the Planning Commission were connected with the Finance Minister at the press conference.
Minister of Agriculture, Abdur Razzak opined that the government has a special opportunity in the budget to use mechanical equipment and technology to modernize agriculture to increase productivity.
