Dhaka, May 21 -- Finance Minister Amir Khosru Mahmud Chowdhury on Thursday said the government has undertaken an all-out reform programme to establish a welfare state by moving away from an 'oligarchic and patronage-driven' economic system.

The minister said democratization of the economy is not merely a slogan but the core philosophy of the present government, he said while addressing a roundtable discussion titled "Budget in Times of Crisis and Public Expectations" at a hotel in Dhaka.

He said special emphasis is being placed on bringing marginalised groups including rural blacksmiths, potters and weavers into the mainstream economy after they remained outside the budgetary framework for decades.

The finance minister said the upcomin...