New budget won’t spark price spiral: finance minister

Finance minister AHM Mustafa Kamal on Thursday said there was no component in the budget for the 2019-2020 fiscal year which might cause a price spiral of essential commodities.

The minister said this while placing the national budget in Parliament for the 2019-20 fiscal year on Thursday.

‘The budget has been prepared to fulfill the demands of people of all occupations, including fisherman, weavers, businessman, different ethnic groups, teachers, doctors and engineers, of the country,’ he said.

The basic principle of the government to collect tax is to boost revenue mobilisation, not by increasing the tax rate but by widening the tax net and coverage. ‘To do that, we'll establish revenue offices in every upazila, and growth centre in the country,’ he said.

News Courtesy: www.newagebd.net