The proposed budget will promote corruption as the continued provision for whitening black money will basically serve the interests of the corrupt people, the association said at a post-budget press briefing at the National Press Club.

Criticising the finance minister, BEA President Kazi Kholiquzzaman said the finance minister backtracked from his earlier position and could not keep some of the commitments he had made in several pre-budget meetings due to pressures from politicians and businessmen.

"Inflation in March [this year] was 6.18 percent according to government statistics and it showed an upward trend in the following months," he told the briefing, adding that the actual inflation rate, however, is higher as prices of essentials are on the rise.

Expenditure in the unproductive areas has been increased in the proposed budget and the government will have to borrow more money from banks to meet this increased expenditure, which will definitely push inflation up further, he cautioned.

Everybody is worried about the present inflationary trend and it was hoped that some measures would be taken to contain the inflation but it is absent in the proposed budget, he explained.

The finance minister has allocated more money for the union and village levels in the proposed budget as it can be used for political purposes, but there are no proposals for strengthening the local government bodies, the BEA president said.

Corruption, bribe, default loan, politicisation and nepotism have created an alarming situation in the society, he said, identifying corruption as the main reason for slow poverty reduction and economic growth.

Curbing corruption is a big challenge for the nation as it has seriously damaged the image of the country abroad, Kholiquzzaman said, adding that it is necessary to take harsh measures for addressing this issue instead of encouraging it.

"We think that the government gave sufficient scopes for whitening black money and it should not continue anymore," he maintained.

On the issue of steps being taken to make the Anti-Corruption Commission (ACC) effective, he pointed out that the finance minister did not elaborate in the proposed budget whether the government is giving the ACC financial, administrative and legal independence.

Referring to the allocation of Tk 4,600 crore for reducing poverty and creating employment opportunity, the BEA president questioned how the amount will be spent and how many jobs will be created for whom as there are no directions in that regard in the proposed budget.

"We also believe in ambition but it should be based on reality. The government will not be able to increase revenue income substantially within a year as well as improve efficiency of the administration according to the needs," he said.

Kholiquzzaman noted it is possible to reduce dependency on foreign aid at the zero level by curbing corruption and reducing wastage and expenditure in the unproductive sectors, but there is no indication for addressing these areas in the proposed budget.

Overall loan and aid from donors are declining but their diktats are on the rise, he added.

BEA General Secretary Prof Abul Barkat and other BEA officials were present at the briefing.