NCP unveils Tk 8.52 lakh crore ‘shadow budget’

National Citizen Party (NCP) leaders, while unveiling their shadow budget for the upcoming fiscal year yesterday, said they do not want rhetoric-heavy, numbers-based, or superficial budgets that exist only on paper.

“Every single penny allocated must be used for the public, ensuring that the tangible benefits of the budget reach citizens,” NCP Chief Organiser (South) and lawmaker Hasnat Abdullah said at the programme in Banglamotor.

He said the shadow budget, aimed at an equitable and discrimination-free economy, was prepared after more than two months of consultations with various stakeholders.

He added that the current government has inherited an economy in deep crisis from the Awami League, with classified loans exceeding 30 percent of total loans and over $12 billion spent annually on fuel imports.

NCP’s Shadow Budget Committee Chief and lawmaker Atiq Mujahid presented a Tk 8,52,157 crore shadow budget for FY 2026-27, outlining an alternative fiscal plan focused on reform, job creation, investment, and fiscal discipline.

According to the proposal, the Annual Development Programme would be Tk 2,52,667 crore.

The highest allocation is proposed for education and technology at Tk 1,24,425 crore. Other allocations include Tk 52,338 crore for health, Tk 87,567 crore for public administration, and Tk 39,745 crore for defence. Interest payments are proposed to be reduced to Tk 1,10,450 crore.

The NCP said revenue would be increased mainly by expanding the tax base rather than raising pressure on lower and middle-income groups.

The shadow budget also proposes raising the tax-free income threshold to Tk 4.5 lakh a year. For women and senior citizens, the threshold would be Tk 4.75 lakh, and for persons with disabilities and third-gender taxpayers, Tk 5 lakh.

The party also claimed Tk 46,000 crore could be saved through improved expenditure efficiency, including better ADP project selection, reduced interest costs, lower subsidy leakage, improved payroll and procurement efficiency, and reduced operational expenses.

The shadow budget could influence the national budget if the government aims to make it more inclusive and people-centred, Atiq Mujahid told the Daily Star.

“If the government has the goodwill and wants to make the budget inclusive, pro-people, and beneficial for the state, then our shadow budget can have a major effect,” he said.

He said their proposal contains several “unique” recommendations that are usually absent from conventional budgets.

He also said the government takes about Tk 1.43 lakh crore from banks and claimed the proposal shows ways to increase revenue, reduce interest payments, and lower borrowing costs.

He further said the proposal on electric vehicles could help reduce fuel costs significantly.

He added that although the budget size is increasing, its impact remains limited due to inefficient allocation.