Dhaka: The Transparency International Bangladesh (TIB) has said the 'guideless' proposed budget placed for fiscal 2017-18 will institutionalise corruption in the country.

The anti-graft agency voiced concern over the proposals of recapitalisation of tax money in corruption-prone banking sector, discriminatory taxation on lower- and middle-income people and continuation of the scope of whitening black money in the proposed budget.

In a statement on Tuesday, TIB executive director Dr Iftekharuzzaman said although there is no proposal in the proposed budget to check the ongoing corruption in the banking sector and money laundering, Tk 2,000 crore has been proposed for giving to the state-owned banking sector, which ultimately means patronising and promoting corruption.

"Not only that, but also an evil initiative has been taken through public money to institutionalise the culture of looting money in the banking sector," he said.

The TIB chief said the path of earning a title bit more by limited income people is halted by proposing the additional tax on their income.

He said Tk 100 crore has been proposed for Bangladesh Climate Change Trust Fund (BCCTF) in the fiscal 2017-18 budget to deal with climate change impacts, but the allocation should be Tk 400 crore.

On the other hand, Iftekahr said, the proposed 10 percent tax on solar panel, which helps cope with climate change, is not acceptable at all.