Defence Budget 2020-2021

[Girls' Generation]

On 11th of June the Finance Minister will produce budget for the next financial year. Due to current covid-19 pandemic government has many other priorities and social security schemes. What u think where there will be any sledgehammer on the defense budget (official and undisclosed ) and ur expectations? 

My argument is as many renowned international financial institutions saying our economy will jump in next year, neighbours will do anything to stop our growth. So, as we don't have monetary crisis, we can't stop to build our deterrence. It is 'safeguard'.

https://www.google.com/url?q=https://tbsnews.net/economy/imf-too-projects-2pc-gdp-growth-bangladesh-69421&sa=U&ved=2ahUKEwi6r86f-LLpAhWKeX0KHTL-BYMQFjAGegQIAxAB&usg=AOvVaw3t2_9wDZz2sru_4eQ5roEn

[Ahsan]

GoB should prioritized 

1. Agriculture.

2. Health & science.

3. Defense & technology.

People are coming back from Middle East & garment sector is having hard time, agriculture is the best solution. Exporting agricultural foods will bring money.

[tahmid]

45 minutes ago, Girls' Generation said:

On 11th of June the Finance Minister will produce budget for the next financial year. Due to current covid-19 pandemic government has many other priorities and social security schemes. What u think where there will be any sledgehammer on the defense budget (official and undisclosed ) and ur expectations? 

My argument is as many renowned international financial institutions saying our economy will jump in next year, neighbours will do anything to stop our growth. So, as we don't have monetary crisis, we can't stop to build our deterrence. It is 'safeguard'.

https://www.google.com/url?q=https://tbsnews.net/economy/imf-too-projects-2pc-gdp-growth-bangladesh-69421&sa=U&ved=2ahUKEwi6r86f-LLpAhWKeX0KHTL-BYMQFjAGegQIAxAB&usg=AOvVaw3t2_9wDZz2sru_4eQ5roEn

We have crisis in every sector. This Corona Virus gave us a clear picture where we actually stand no matter what GOB says. Defense budget will probably not get any cut nor will it increase. Our dependence on remittance has taken a huge hit and we will feel the pinch soon.

To tell the truth we might have come out from the branding as a "bottomless basket" but now we can be termed as a nation of empty dreams. empty promises but with a loud mouth to back it up. Sorry for going off topic.

[Maisson]

The Coronavirus is not going to go away. It might turn in to a seasonal flu type deal so vaccination will be the mainstay to combat it.

Coming back to the economy - I believe governments throughout the world are facing similar crisis - some more than others.

Countries we thought had the right capabilities to handle any crisis proved to be the weakest whereas some others did well to combat the problems.

Diversification of the nation's industries will be important to any economic revival program. You cannot rely on manpower exports and RMG to become a major economy. Those things will take you to a certain level but it was never going to be the solution whether or not coronavirus was a factor.

Moreover as a country with a population of some 170 million the internal market is huge. Now is the time for innovation and even the defence sector can benefit from timely R&D exercise in partnership with experienced foreign companies.

Many countries will be looking for partnerships now as they want to kick start their own economies. It might be a good time to get FTA done.

[Maisson]

The Government of Bangladesh announced the nation’s highest ever defence and internal security budget since independence for Fiscal Year 2020-21 with a revised budget set to cross $7 billion.

https://www.defseca.com/military/bangladesh-announces-7-billion-defence-security-budget/