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Prime Minister Tarique Rahman today described the proposed national budget for the 2026–27 fiscal year as a “life-centric” budget, saying it aims to provide at least some relief and comfort to people from all walks of life.
“I would like to give a name to the budget we are presenting today… I would call it a life-centric budget,” he said.
The prime minister made the remarks while participating in the general discussion on the proposed FY27 budget in Parliament, with Speaker Hafiz Uddin Ahmad, Bir Bikram, in the chair.
Describing the budget as a crucial component of state governance, he said, “Naturally, since the ruling party is presenting the budget, we have strived to present a sound, balanced, and realistic budget.”
“The reality is very challenging. Nevertheless, after considering various factors, we have used our utmost wisdom, judgment, and knowledge to prepare a budget that can provide at least some relief and comfort to people from all walks of life,” he said.
Referring to the period following the finance minister’s budget presentation, the prime minister noted that the prices of essential commodities had not increased.
He said taxes on 61 essential items, as commonly understood by the public, had been almost entirely withdrawn.
“In the past, we often observed sudden and unjustified price hikes in many essential goods both before and after the budget announcement. We have not seen such a situation this year. We believe we have been able to fulfil at least part of our responsibility to the people by providing some degree of relief,” he said.
He said that when the BNP government assumed office, it inherited a fragile economy, as corruption, looting, mismanagement, and flawed policies had left the country’s economy in ruins.
“We have tried to revive the economy from that situation,” he told the House.
The opposition leader also acknowledged that a massive amount of money had been smuggled abroad, a fact recognised both nationally and internationally, he added.
Production and investment had nearly stalled, while inflation had reached alarming levels two to two-and-a-half years ago—conditions the BNP government experienced firsthand, he said.
Describing the capital market as a vital sector of the economy, he said the situation had deteriorated to such an extent that some investors who lost everything had taken their own lives.
Meanwhile, vast sums belonging to ordinary citizens had been misappropriated, foreign exchange reserves had fallen to alarming levels, and the value of the taka had depreciated by about 40 percent, he said.
The prime minister said several vanity projects had been undertaken, leading to unnecessary domestic and foreign borrowing that has now become a burden on the nation.
“These projects do not generate revenue, forcing us to repay foreign loans using resources from other sectors. This burden may continue to weigh on the nation for a long time,” he said.
“I do not want to deny the crisis I have briefly described. We cannot ignore it; doing so would be foolish. At the same time, we do not want to use the crisis as an excuse,” he added.
Therefore, he said, “I fully agree with the opposition leader that, with the support of the people, political goodwill, and effective policies, we want to confront this crisis successfully.”
The prime minister said the government began its journey on February 18 and immediately had to manage the month of Ramadan while ensuring that essential commodities remained within people’s purchasing power as much as possible.
“At the same time, we faced the fragile economy I have described. Through our collective efforts, we believe we can overcome this situation,” he said.
As the prime minister explained the government’s position during his speech, ruling party lawmakers repeatedly thumped their desks in appreciation.
During the concluding phase of the budget debate, Opposition Leader Dr Shafiqur Rahman spoke first, followed by Prime Minister Tarique Rahman, who also serves as the Leader of the House.