Photo: Messenger
Majed Mia works at a private company in Jatrabari, Dhaka, earning a salary of Tk 22,000. With his wedding scheduled for the second week after the upcoming Eid-ul-Azha, he is particularly concerned about the current economic situation. On Thursday afternoon, after returning from the office, he began scrutinising the budget to see what it holds for him during these challenging times. As he watched the news and took deep breaths, the finance minister announced the budget. Majed entered the house carrying potatoes priced at Tk 60 per kg, onions at Tk 80 per kg, and coarse rice at Tk 58 per kg.
By that time, the news flashed on the television screen that foreign and domestic loans were being taken to cover the deficit of Tk 2,56,000 crore in the Tk 7,97,000 crore budget. Majed Mia, an economics student, quickly grasped the implications. He realized that, like other ordinary citizens, he would be contributing to the interest on this massive six-digit loan.
Sitting with high hopes for this year's budget, he had hoped to save at least a small amount each month. However, he was soon disappointed. The budget was highly inconsistent with revenue expectations, leaving little room for fulfilling small dreams or accumulating a few desired items. His daily calculations revealed a potential shortfall of around Tk 12,000-15,000 per month while living alone. After marriage, these costs could increase further.
Majed Mia spent hours comparing real-life expenses with the budget numbers presented by the government. It felt as if he was being constricted from all sides, with no way out to realize his dreams and hopes. Nutritious food, meeting urgent needs, and the desire to save for the future seemed like a nightmare. The budget set the inflation target at 6.5 percent, but the inflation rate had exceeded 9 percent throughout the current financial year, reaching around 10 percent in May. He found it hard to trust any numbers anymore.
His daily expenditure on mobile internet was also impacted, with taxes reducing the value of a Tk 100 recharge to only Tk 69.35 worth of talk time. Other favored products, including cashew nuts, became luxuries. Majed Mia and his three brothers had plans to build a house together, but the budget revealed an increase in the specific tax on bricks, one of the essential building materials, making their dream even more distant.
Majed Mia had been disappointed by his inability to reconcile his expenses with the budget, but now he was truly angry upon seeing the news. Those who had made money through corrupt and illegal means only had to pay 15 percent tax to launder their money, while those who earned their income legally faced a double tax rate of 30 percent.
Majed Mia expressed his opinion that the allocation for essential sectors like industry, agriculture, education, and health was insufficient. "No good news for a common man like me who is struggling with the rising market prices," he said. "The debt-burdened budget reflects the state of the country. My request to reconcile my life with my personal reality now lies solely on my own true self."
Messenger/Disha
