Lecturer in Finance, Bangladesh Islami University, Dhaka-1203
Online published on 16 August, 2012.
People in Bangladesh-the third world country in south Asia, is stumbling upon budget every year as a routine work of government. Suggestions, recommendations and special instructions of the development partners help government to prepare the budget. In local discussion and debate, failure or success of the government is focused, whereas the role of development partners and their influence on economic policy remains obscure. Prominent economists as a vocal of development partners chorally support and safely criticize their role. Policies of government, allocation of fund and annual development projects are evaluated to measure the success and failure of the budget. Same thing is repeated from the independence of Bangladesh, especially after establishment of democracy in 1990. Though budget is declared for the welfare of the people, is it the people who get the welfare? Is it the policy or government, liable for budget-failure? In this article the fiscal policy in Bangladesh will be critically evaluated to find out the real causes of its failure. It will also be suggested to overcome the impediment to ensure welfare economy.
