
Bangladesh • Latest • Perspectives • Slide
Economic development in Bangladesh and the focus on achieving the Millennium development goals; What Challenges arises and what initiatives have been complemented
Prof. Md. Ali Ashraf MP
Bangladesh achieved independence in December 1971 and parliamentarians of the newly independent Country met on 10th April, 1972 for drafting a constitution. The first general election was held on 7th April, 1973. Military rule, however has twice interrupted the process of parliamentary democracy.
Politics of Bangladesh maintained in a framework of a parliamentary democratic government where the Prime Minister of Bangladesh is the head of the government. Executive power is exercised by the government legislative which is vested in both government and parliament. The constitution of Bangladesh is the supreme law of the republic specifies the composition of powers and function of the three branches of government; executive, legislative and judiciary. Each of three branches has its own spheres of actions. The Prime Minister being the chief executive and most of the cabinet are the members of parliament, whom are formally responsible to it.
When Bangladesh gained independence in 1971 under the leadership of Bangabandhu Sheikh Mujibur Rahman, peoples had high hopes that with political freedom would come economic emancipation. The poverty would soon be a thing of the past and that the nation would steadily become more prosperous. The father of the nation Bangabandhu Sheikh Mujibur Rahman along with his family member was martyred by some derailed element of the military on the 15th August, 1975. This sadly incident stagnated the hopes and aspiration of the people in Bangladesh.
The dream of a “Bengal Gold”, which was nurtured by the Father of Nation Bangabandhu Sheikh Mujibur Rahman, now realized by his daughter Honorable Prime Minister Sheikh Hasina. On this dream she is making relentless efforts to create a progressive, democratic and modern secular Bangladesh which is free from poverty and hunger by upholding the constitution of Bangladesh and by practicing the trend of parliamentary democracy.
The continued efforts of the present government for last seven years for turning this country as a knowledge based, peaceful, prosperous and digital country of middle income states have attained widespread successful. Bangladesh has been elevated from low income domain to the platform of lower middle income countries. Now the attention of Bangladesh has been focused on 2041 in the expectation of attaining the states of a developed nation.
The present government has taken all initiatives and create a happy, prosperous, secular and knowledge based ‘Digital Bangladesh’ by freeing the country from the curse of hunger, poverty, illiteracy, militancy and communalism.
The Seventh five year has been formulated work of 6th five year plan and keeping it in consistent with the issues included in the sustainable development goals (SDG). Many of the achievements made with respect to millennium development goals (MDG) have been appreciated. Owing to the steps undertaken by the government, the socioeconomic condition of the people has been improved and Bangladesh has made remarkable economic development.
During the 70th meeting of the United nations General Assembly the honorable Prime Minister was accolade with two prestigious international awards. The international telecommunication union (ITU) conferred in the contribution she has made in the proliferation of ICT at the grass roots level as well as massive expansion and sustainable development of ICT sector. In addition the Prime Minister received the highest UN accolade in the field of environment called “The Champions of the Earth”.
Despite the ongoing crisis in the recovery of the global economy as well as adversities at the domestic front Bangladesh has maintained steady and balanced economic growth. Over the last five years the economy boosted an average of 6.3% growth. The current year growth rate 7.3% is estimated and the per capita income increased by 9.3%. The per capita income has increased to US $1466 from US $1316 in the current fiscal year.
Due to the pro-poor planning and programmes of the government the rate of poverty and inequality has reduced remarkably. Especially, the member of people living below poverty line has reduced remarkably. Almost 100 percent enrollment at primary level education has been achieved. In addition equity of male and female at all levels of education has been ensured. Almost all people of the country have been brought under the coverage immunization, safe drinking water and sanitization facilities.
Despite various global and domestic challenges the uninterrupted Macro economic stability has brightened the image of Bangladesh. Stability in the external economic sector, foreign exchange reserve, export earning was satisfactory. The exchange rate against US $ broadly remained stable during this period. The effective management of monetary and financial sectors by the government ensured sustainable economic growth. Now a days optimizing internal resources, ensuring equitable distribution of resources through reduction of income inequality are some of the priorities at the government to pace up with global economy.
The government is working to increase internal resources of the country to gain the status high middle income country. The revenue target in every financial year is higher than that of the previous year. For promoting domestic industries and for protecting ecology and environment government has extended its facilities like creating one stop services, tax reduction etc. Again in order to attract Foreign Direct Investment (FDI) and to develop IT sector of vision 2021 special concession have been given to the industries at Economic zones and Hi-tech parks.
Agriculture and SME sectors play vital roles in the overall development of the country. For development of the capital market few reforms activities have been taken. Bangladesh securities and exchange commission achieved IOSCO (International organization of securities commission) ‘A’ category member for institutional and structural reforms in the capital market at International standards. This has created opportunities for international investment in Bangladesh capital market. A long term plan has been taken with a view to bring further development in capital market. In order to establish transparent, accountable and efficient Micro finance sector Micro credit regulatory authority closely supervise Ngo MFI.
The government has been prioritizing grants and concessional long term loans to keep external debt payment risk free. Bangladesh has also been prioritizing external aids for infrastructure related projects apart form this health education, social safety net projects are the area for external assistance.
The millennium development goals: Bangladesh progress reports 2015 shows that Bangladesh has made commendable progress in eradication of poverty and hunger. It has sustained a GDP growth rate of 6.3 percent in last five year that has played a positive role in eradicating poverty. The robust growth has been accompanied by corresponding improvements in several social indicators such as increased life expectancy and lower fertility rate despite being one of the world’s densely populated countries. The rate of poverty reduction has been faster in the present decade than the earlier one due to inclusive growth according to house hold income expenditure survey 2010. Bangladesh has reduced the poverty at the rate of 1.74% in an average per year which the target was 1.2% to achieve the millennium development goals. The poverty reduction rate in 2015 is 24.8%.
The production of food cereals has significantly increased due to adoption of various agriculture friendly programs by the government. These include enhancing irrigation facility, subsidies in fertilizer and ensuring availability of improved variety seeds. As a consequence, Bangladesh has been recognized as a model for the agricultural development. With a view to improving agricultural statistic and standardizing it at international level a project named “Harmonization and Dissemination of unified Agricultural production statistics has been implemented with the financial and technical assistance of Food and Agricultural Organization (FAO) of the United Nation.”
The government of Bangladesh ensured food security as was pledge bound. A buffer stock of more than 10 lakh metric tons food grains has been made and that stock maintained through out the year to reduce of natural disasters such as flood, drought and loss of crops. By using modern agricultural technologies innovating high yielding seed varieties subsidizing chemical fertilizers, making fertilizers available, ensuring irrigation, using continuous power supply, and by providing agri-loan, the food grain production reached 36.60 million metric tons. Moreover, a MOU has been signed between Bangladesh and Russia for five years to facilitate co hampered impact of wheat to ensure food security.
The government has been working the capacity of storages to 21 lakh metric tons by 2016 and 30 lakh metric tons by 2021. Bangladesh is self reliant in rice production and Bangladesh is in the 4th position in the world regarding vegetable production. As it has been ensured that Bangladesh would get finance from the fund raised for world food security and other sources as has been promised that US $8.80 billion will be provided.
The government of Bangladesh is very cautious in conserving the natural resources, bio-diversity, marshes, forests and wild life. For that purpose the govt. include section 18(a) in the Bangladesh constitution. “Climate change trust law 2010” has been formulated and climate trust fund has been formed with TK 3000 crore has been allocated. Apart from that the government also setup Bangladesh climate resilient fund (BCCRF) in co-operation with development partners. Successful implementation of National plan for disaster management 2010-15 is completed. Disaster management policy 2015 has been formulated.
Health is a fundamental right of the people. According to the constitution of Bangladesh it is obligation of the state to provide basic need including health care service. Bangladesh has achieved commendable program in the health sector over last few years. A substantial program has been made in various demographic indicators including. Maternal and infant mortality reduction rate due to various timely and multifarious and coordinated action by the government.
Bangladesh has already achieved Health-specific 4 and 6 Millennium Development Goals (MDGs) and is on the track to achieve goal-5.
The community clinic, a milestone of success of the present government in the Health sector. To provide quality health service to the doorsteps of every citizen of Bangladesh, a total of 13,124 community clinics has been made functioning till December 2015.
A sustainable, effective and transparent health care system now emerges because of client centered services development and expansion of health services, growth of health education, infrastructural development, accountability and participation of people in health service in Bangladesh.
During the current fiscal year 2015-16 a total of 2,64,000 poor pregnant mother will receive allowance under the social safety net programme. Mother working in garments factories, City corporation and Paurasovas will receive allowances. In order to create self employment opportunities for women the Honorable Prime Minister Sheikh Hasina create a Micro-credit program named ‘One Hose One Firm’ in 473 Upazilla. On that Micro-credit programme income generating trainings were provided to ultra women for sustainable growth in the fields of production kike agriculture, raising live stocks and fish firms.
To ensure quality education for all, irrespective of economic states and to reduce dropout rate free text books have been distributed on 1st day in a year to all students from pre-primary to SSC and equivalent level for last two years.
Bangladesh has taken an anticorruption stand in the International areas with a view to implementing the “United Nations convention against corruption”. Bangladesh is a role model in the world on achieving the Millennium Development Goals. The government of Bangladesh has been receiving the affairs of the state taking the challenge of continuing the progress of democracy and achieving socioeconomic targets. Significant progresses have been model in almost all sectors.
This aspiration of the nation must be fulfilled through materialization of vision 2021 and the charter for change of programmes taken under various projects. Despite hundreds of setbacks and obstacles and being in the face of adversity the government endeavor is in progress to consolidates good governance in the country. Putting the past behind and forging ahead into the achievement of sustainable development goals is the only object of Bangladesh.
Bangladesh is committed to a long term strategy for sustainable Development goal of its human and natural rezones. Bangladesh is progressing and its future is bright.
Writer is Former Deputy Speaker, Bangladesh Parliament.
