News:

On 5^th June 2014, Finance Minister of Bangladesh proposed a Taka 250506 crore (Taka 2.5 Trillion) budget for 2014-15 fiscal year. The proposed budget sets an unrealistic economic growth target, which came with huge funding for a host of development projects to directly contribute to the macro-economic growth.

Comment:

As usual, the political parties, economists and civil society of the country turned a blind eye to the key issue and instead kept the country busy with typical assessment of the budget itself. However, the key issue is that these budgets by the capitalist governments are nothing but a mere tool to cater for the interests and demands of the rich and powerful. This year's budget is also no exception. Like all the earlier budgets, this time also the main target is increasing the Gross Domestic Product (GDP) (targeted at 7.3%) whereas no direction has been laid down for equitable distribution of wealth. Rather, these oppressive governments let the common people compete with each other to achieve their basic needs out of this flawed and indeterminable "trickle-down economics".

As for the sources of revenues for the budget, the proposed taxation system will eventually bring about inflation and, expectedly, the limited-income people will have to bear the consequences. Moreover, to help fill a projected Taka 675.52 billion deficit, that is one-fourth of the total budgetary expense, government will seek bank borrowings and foreign loans. Naturally, the ruling elites and their vested interests will be more fortified by having the citizens bear the pressure of such loans and borrowings. The government also proposed a hike in the fuel price even though the international fuel price has not changed much in recent times. So, on the one hand, this price hike will increase transportation and production costs to trigger public sufferings and, on the other hand, we will see the capitalists will be cossetted by receiving fuel subsidy for their "quick rentals" (short-term but highly expensive power plants). The nation also witnessed how the brazen-faced government kept the provision of whitening the black money to support the illegal moneymaking activities. This leeway for corruption demonstrates the moral bankruptcy of our so-called Democratic governments.

Since the independence, these budgets have been nothing but a tool of deceit with sugarcoated words. We call upon the people of Bangladesh not to fall into this trap again under the pretext of development set by this fascist Hasina government. People should also come forward to uproot this democratic ruling system that produces the oppressors. We will keep on reminding everyone that only the Khilafah "Caliphate" can eradicate inequality and economic injustice by ensuring the rights given by the Lord Almighty. Khilafah "Caliphate" will not allow the rich get richer while the poor get poorer by guaranteeing that the wealth circulates among the whole community and not only among the rich. Also, no unjust tax structure will be imposed upon the citizens by the Khilafah "Caliphate" state.

Khilafah "Caliphate" government will not just focus upon the GDP growth. It will ensure that all of its citizens - Muslims or non-Muslims - have equal access to their basic needs. This state will not allow any privatization of electricity that causes public sufferings. Rather, it will ensure delivery of the benefits of electricity and other natural energy to its citizens within their means. Our Prophet (Peace and blessings be upon him) said:

«المسلمون شركاء في ثلاث: الماء، والكلأ والنار»

"The Muslims are partners in three things: waters, feeding pastures and fire." (Ahmad).

 

Written for the Central Media Office of Hizb ut Tahrir by

Imadul Amin

Member of the Media Office of Hizb ut Tahrir , Wilayah Bangladesh