Bangladesh Economic Association (BEA) has proposed a tax increase for the wealthy and relief measures for the lower-middle class in order to boost government revenue and alleviate the financial burden on the majority of the population. Abul Barkat, the president of BEA, emphasized the negative impact of inflation, forcing people to deplete their savings or borrow money to meet their basic needs. The association presented an alternative budget of Tk 20.94 lakh crore for the upcoming fiscal year, aiming to elevate 70 to 80 percent of the population to the middle class and reduce inequality.
Currently, direct taxes account for 46 percent of the government’s revenue, but the alternative budget suggests raising this to 72 percent. The proposed budget is approximately 2.7 times larger than the finance minister’s expected national budget and three times larger than the current government budget. To finance the alternative budget, Barkat stated that revenue generation would contribute Tk 19.29 crore, which is 4.42 times higher than the current fiscal year’s target. The remaining 7.8 percent, equivalent to Tk 1.65 lakh crore, would be covered by a deficit.