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Budget and the prices of essentials June 9, 2007

Posted by bdoza in BANGLADESH, Budget, ECONOMY.

Though budget is not all about control of the prices of the commodities in the market, yet it should be addressed adequately in the budget so that the prices of the essentials remain stable and within the reach of the common people.

It has also important political connotation. People will assess the budget by the impact it would have on the market price. The control of the price is also sign of competence of governance. So along with the statistical adjustment, Government needs do take measures which would support the target of the Budget.

In the Budget 2007-08, some measures have been taken to stabilise the price of the essentails in the market as follows:

1) withdrawal of the import duty on a number of commodities including rice, wheat, dal etc.

2) to provide credit facilities on soft term to the new importers

3) efforts to maintain the agricultural product near competitive

4) to establish four whole sale market in four corners of the city

5) monitoring of the prices of the essentils at District and upazilla level by the task forces

6) Stengthen the dal-bhat program by the BDR

7) Increase of the import by both public and private sector

8) widening the safely net

9) allocation of fund for research in Agricultural sector

There must be reformation of law to discourage the hording of the commodities.

Mere attempts to control prices would not be enough.The inflation is to be checked and the employment opportunity should be created.

Government has eye on all these but the success will be measured by the extent of the implementation.




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