Finance and Planning Minister Amir Khosru Mahmud Chowdhury on Tuesday said the core philosophy of the upcoming national budget is the democratization of the economy and bringing poor and marginalized communities into the mainstream of economic activities.

Speaking as the chief guest at a seminar titled 'Budget 2026–27: Expectations and Reality' organized by the Economic Reporters Forum (ERF) in the capital, the minister noted that low-income people have historically been the most deprived in Bangladesh’s budgetary framework, which is why the government has given priority to the poor, low-income groups and homemakers in the upcoming budget.

The event was chaired by ERF President Daulat Akter Mala and moderated by ERF General Secretary Abul Kasem, with Executive Director of the Centre for Policy Dialogue (CPD) Dr. Fahmida Khatun, Chairman of East Coast Group Azam J Chowdhury, and President of the Bangladesh Textile Mills Association (BTMA) Shawkat Aziz Russell attending as special guests.

The Finance Minister explained that the next national budget seeks to address rising poverty, expand economic opportunities for marginalized groups, and reduce bureaucratic obstacles to business, despite being prepared under exceptionally difficult circumstances.

He revealed that preparing a national budget within one and a half months of assuming office was almost impossible, noting that the process normally takes at least six months.

According to the minister, the current government inherited a fragile economy marked by declining indicators, weak investment, growing unemployment, and rising poverty, but was nonetheless required to present a budget within the constitutional timeframe.

He stated that the economy has reached a level where significant intervention is needed to restore stability and put it back on the path to prosperity, likening the situation to priming a tube well by pouring water into it before groundwater can be drawn.

Responding to ongoing criticism over the size of the budget amid current economic challenges, Amir Khosru asserted that the government is investing heavily to revive economic activity and rebuild confidence.

He reiterated that the budget prioritises low-income and disadvantaged groups who have traditionally been overlooked in national fiscal planning.

Among the key structural initiatives, he highlighted the expansion of the Family Card programme, under which financial assistance will be transferred directly to women heading households through bank accounts, minimizing opportunities for corruption and political influence.

He claimed that a pilot project recorded only a 1-1.5 percent deviation rate and expressed confidence that the programme could achieve near-perfect targeting in the future, reemphasizing that money under the Family Card programme would be transferred directly to beneficiaries’ accounts to ensure no political influence or intermediary involvement in the process.

He also underscored the government’s focus on farmers through the introduction of a 'Farmers Card' initiative, which is aimed at strengthening food security and improving farmers’ living standards and rural livelihoods.

Turning to healthcare, Amir Khosru pointed out that people in Bangladesh continue to incur high out-of-pocket healthcare expenses, noting that Bangladeshis spend a disproportionately high share of their own income on medical treatment.

In response, he announced that the government is moving towards and prioritising the expansion of universal and primary healthcare services, which would be implemented through partnerships involving government institutions, the private sector, and non-governmental organisations (NGOs) rather than relying solely on government agencies.

The Finance Minister also announced significant fiscal support for what he termed the “creative economy”, including artisans, weavers, folk craftsmen, performers, theatre artists, and other cultural workers.

Under this new initiative, targeted groups will receive skills training, access to finance, design assistance, branding support, and opportunities to market products online, drawing direct inspiration from successful international models such as Thailand’s “One Village, One Product” programme.

Amir Khosru argued that economic growth should not be measured solely through industrial production, stating that creative industries and cultural activities also contribute significantly to gross domestic product (GDP).

He reaffirmed this stance by stating, “Our vision is the democratisation of the economy. Economic participation and the benefits of growth must reach every citizen and every community.”

The minister reiterated the government’s firm commitment to strengthening the private sector, describing it as the primary driver of economic growth while positioning the state as a facilitator rather than a regulator.

To achieve this, he announced plans to simplify regulatory procedures through a one-stop service system under which multiple approvals would be processed within specified timeframes.

Applications not acted upon within the prescribed period would automatically be deemed approved. Calling for a “deregulated economy”, Amir Khosru argued that excessive controls had constrained businesses, citizens, and institutions for years.

On the critical issue of budget implementation, the minister acknowledged widespread concerns over low execution rates and announced that the government would introduce digital monitoring systems across all ministries.

According to the minister, all development projects will be tracked through real-time dashboards at the ministry, finance ministry, and Prime Minister’s Office levels, allowing delays and bottlenecks to be identified instantly.

He stated that future project selection would be strictly guided by four core criteria: value for money, return on investment, job creation, and environmental sustainability.

He added that the government has already reviewed around 1,300 ongoing projects inherited from previous administrations and plans to cancel those that fail to meet these new standards while repurposing others to improve economic returns.

Turning to the capital market, Amir Khosru revealed that the government is actively restructuring the securities regulator and expects to appoint a new professional leadership team within weeks.

He noted that these structural reforms would help attract quality listed companies, reduce pressure on the banking sector, and enable businesses to raise long-term financing through the capital market.

The minister also stated that international financial institutions and major investment firms, including global fund managers, had expressed keen interest in Bangladesh as economic reforms gather pace.

Amir Khosru expressed his ultimate confidence that the budget’s inclusive approach, coupled with stronger governance and implementation mechanisms, would successfully help restore stability and lay the foundation for sustainable and equitable economic growth.