BNP acting chairman Tarique Rahman severely criticized the budgetary provision of whitening the black money which he stated would benefit a few but would be a burden on millions of honest tax payers.

Bangladesh on Thursday unveiled a Tk 7.37 trillion budget amidst a turbulent economic period in which unchecked inflation is affecting the whole country.

The proposed budget, in all essence, has given the tax evaders a chance to legitimize their black money with a mere 15% tax. They would also be bestowed with a complete pardon.

Criticizing this, Tarique, in his X handle, wrote that the budget is structured to “discourage honest earners and benefit the corrupt.”

He censured the budgetary provision of allowing individuals to "whiten" their black money by paying a flat 15% tax, without any scrutiny from government agencies regarding the source of the funds.

“This policy will not only discourage taxpayers who have to pay 30% tax on their hard-earned money, but also promote the generation of black money under the guise of increasing tax revenue,” he wrote.

Tarique stated that this partisan approach is leading to “systematic destruction of the economy, resulting in the escalation of corruption, inflation, and unemployment, as well as the reduction of foreign reserves, equal opportunities, and social justice, while breaking the record of external debt and making Bangladesh a loan-ridden country.” ⁤⁤

Terming the proposed FY25 budget as “another extension of the state-sponsored corruption”, Tarique wrote that the budget is clearly “designed to benefit the few who help the illegitimate government to cling to power.”