Budget deficit in India, UK, US is more than Bangladesh: Hasan

[Black_cats]

Budget deficit in India, UK, US is more than Bangladesh: Hasan​

BSS
Dhaka
Published: 04 Jun 2023, 23: 52

Information and broadcasting minister Hasan MahmudFile photo

Information and broadcasting minister Hasan Mahmud on Sunday said deficit of the proposed budget for 2023-24 fiscal is to be 5.2 per cent of GDP while the deficit in India is 5.9 per cent, in the USA 6 per cent and in the UK 5.5 per cent.

“I would like to draw attention of the critics, who claimed that they conducted researches and highlighted the 5.2 per cent deficit in our country’s proposed budget for the 2023-24 fiscal. The deficit is 5.9 per cent of GDP in India, 6 per cent in the US and 5.5 per cent in the UK,” he said.

He said, the budget deficit of India, the UK and the US is more than Bangladesh. Not only that, more than hundred countries across the globe have budget deficits, he added.

The minister said these while exchanging views with reporters on contemporary issues at the conference room of his ministry at Secretariat in the capital.

Hasan said the political critics gave their statements without reading the budget copy. In fact, the proposed budget is poor-friendly and pro-people as it proposed for increasing the number of direct beneficiaries of government allowances and the amount of allowance while 20 million people will get various assistance, including money from the government directly, he added.

“All are poor who will get the allowances. So it is not a pro-poor budget?” said Hasan, also Awami League joint general secretary.

Replying to a question over a comment of the prime minister on visa policy of the US, the information minister Hasan Mahmud said, the PM said this to calm those down who became anxious after the announcement of the US visa policy. “The relation with the USA is very warm and we want the relationship to be closer. For this, you all see that the government has taken many positive decisions, including in foreign affairs,” he added.

Replying to another query over tax issue, the minister said it is not right that paying this tax is compulsory. Those who have TIN (Tax Identification Number) certificate but do not pay tax, they have been asked to file tax return by paying a fee of Taka 2,000, he added.

Replying to another query over a list being made by BNP, the minister said they are also making lists of those who carries out arson attacks, vandalised vehicles and resisted the votes.

Budget deficit in India, UK, US is more than Bangladesh: Hasan

Information and broadcasting minister Hasan Mahmud on Sunday said deficit of the proposed budget for 2023-24 fiscal is to be 5.2 per cent of GDP while the deficit in India is 5.9 per cent, in the USA 6 per cent and in the UK 5.5 per cent

en.prothomalo.com

 

[Skull and Bones]

Hence Bangladesh is the economic powerhouse of the world.

 

[Indos]

Budget deficit in India, UK, US is more than Bangladesh: Hasan​

BSS
Dhaka
Published: 04 Jun 2023, 23: 52

Information and broadcasting minister Hasan MahmudFile photo

Information and broadcasting minister Hasan Mahmud on Sunday said deficit of the proposed budget for 2023-24 fiscal is to be 5.2 per cent of GDP while the deficit in India is 5.9 per cent, in the USA 6 per cent and in the UK 5.5 per cent.

“I would like to draw attention of the critics, who claimed that they conducted researches and highlighted the 5.2 per cent deficit in our country’s proposed budget for the 2023-24 fiscal. The deficit is 5.9 per cent of GDP in India, 6 per cent in the US and 5.5 per cent in the UK,” he said.

He is wrong saying India Budget Deficit will be 5.9 %, where he gets the number from ?

We will now the real figure in the end of Fiscal Year, but the prediction from IMF is at 8.9% of GDP.

https://www.imf.org/external/datamapper/profile/IND

 

[GodToons]

This Bangladeshi minister is not picking up the right issue. The concern of global finance agencies is - you have fixed the conversion rate of taka vs USD, thus inflating the GDP and reserves, suppressing the deficit. Rest running a fiscal deficit is not bad if the country is getting enough foreign currency receipts.

 

[CallSignMaverick]

He is wrong saying India Budget Deficit will be 5.9 %, where he gets the number from ?

We will now the real figure in the end of Fiscal Year, but the prediction from IMF is at 8.9% of GDP.

https://www.imf.org/external/datamapper/profile/IND

Wasn't it declared already?

India's FY23 fiscal deficit narrows to 6.4%, meets budgeted target

India's fiscal deficit for the last financial year ending March 31 met New Delhi's target and narrowed to 6.4% from the previous year, thanks to strong tax receipts and lower payments. The government expects the deficit to further reduce to 5.9% next year and aims to bring it under 4.5% of GDP...

economictimes.indiatimes.com

 

[mmr]

Ya but us uk has fin institutions to raise trillions and have pension funds worth trillions

bd has what lol?

 

[bluesky]

Ya but us uk has fin institutions to raise trillions and have pension funds worth trillions

bd has what lol?

BD ministers encouraged by Hasina have big chaos. Why Hassan Mahmud has to compare BD with developed countries which run by systems created through many decades?

Every year BD finance ministers compile big budget that cannot be attained. The next budget will be no different.

This time the BAL party cronies want people to forget about democracy and talk about the budget. BAL party thieves are all genius people of the highest order.

 

[SoulSpokesman]

@Indos Bro

He is wrong saying India Budget Deficit will be 5.9 %, where he gets the number from ? We will now the real figure in the end of Fiscal Year, but the prediction from IMF is at 8.9% of GDP.

5.9% is the Central govt deficit. 8.9% includes deficit of state govts as well

Regards