The affluent to benefit more

The budgetary measures for fiscal 2019-20 will favour the beneficiaries of “economic misrule” and hurt the middle and lower mid-income groups, the Centre for Policy Dialogue said yesterday.

The think-tank said greater benefits have been offered to the affluent in the Tk 523,190 crore expenditure plan for the next fiscal year, up 18 percent from the outgoing FY.
As a result, the growing middleclass and lower middleclass groups will not benefit as much because the fiscal measures laid out in the budget will not be able to ensure quality education, better healthcare and good mass transport system, said the CPD.

“The main issue here is what measures have been taken for those who cannot go to Bangkok, Singapore, America or London for quality healthcare and education for their near ones,” CPD Distinguished Fellow Debapriya Bhattacharya told a press conference at the Lakeshore Hotel in the capital.

On tax measures, the CPD said the surcharge-free net wealth limit had been hiked, but no measure had been taken for taxpayers in the lower income threshold.

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