STAFF CORRESPONDENT:

Bangladesh Economic Association (BEA) said 1972-73 to FY 2022-23 accumulated black money and money smuggled out of the country amount to Tk 1.44 lakh crores.

Besides, the organization proposed to recover only one and a half percent of this money for the fiscal year 2024-25 budget.

Dr Md Aynul Islam, general secretary of BEA, proposed the alternative budget at a press conference at its Eskaton office on Monday (May 3).

Aynul Islam said that this alternative budget has been proposed to achieve seven goals in the next 10 years. The goals include 70-80 per cent of country’s people into sustainable middle class, minimize discrimination, distribution of wealth of the rich among the poor and low-income people.

He further said no foreign loan will be required in the proposed budget. If this budget is implemented.