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Bangladesh progressing apace

Published : Saturday, 24 February, 2024 at 12:00 AM  Count : 760

Bangladesh progressing apace

Bangladesh progressing apace

Everyone should work to strengthen democracy.All must contribute to establishing a tolerant democratic system by eliminating violence from politics.In the light of the established democratic norms and the great constitution, the people of Bangladesh are making the history of democracy in Bangladesh richer and faster by exercising their right to vote impartially.The brave sons of the nation have gifted us an independent sovereign country in exchange for millions of lives.It is our responsibility to accelerate the progress of this country and nation.It should be involved in building a welfare state away from any destructive activities.

We must stand united against any evil forces that threaten democracy. In a parliamentary democracy, the national parliament is the focal point of democracy.If the national parliament is active and dynamic, the development of peoples lives and the realization of their hopes and aspirations are possible.The government can also be brought into accountability and transparency.The Standing Committees of the National Parliament can play a very active role in monitoring and supervising the activities of various ministries.In the meeting of the committee on the errors and omissions of the various activities of the ministry, they made recommendations and everything including the administration can be brought under accountability.

Making Parliament dynamic and continuing this trend is a very important milestone in consolidating our democracy. The progress and development of the country continue through the active participation of the people of the country under the leadership of Bangabandhus Daughter Prime Minister Sheikh Hasina.A non-communal, self-reliant and poverty-free Bangladesh is being developed in the spirit and ideals of the liberation war.The development of Bangladesh in 53 years is commendable and it has the contribution of people from all walks of life. Bangladesh was a war-torn country after independence.We had nothing then.Per capita income, exports, repatriation income were all just names.

The country has slowly come out from there.Great progress has been made in the last 15 years. Although the trend started in the nineties.Bangladesh has recently added 1 percent GDP growth every five years, according to an economic review of 11-12 Asian countries.Bangladesh has achieved the highest GDP growth among Asian countries for three years. Of course, the biggest contributors are exports, remittances and agriculture.Agriculture has diversified.As a result, we have become self-sufficient in food.But there are some challenges.Dependence on clothing is high.Product diversification and new market expansion required Remittances are high but low compared to many neighboring countries.It should increase.

An analysis of data by the Government Planning Commission, a domestic and foreign research institute, shows that the country that was born from the rubble in 1971, 53 years later, is now one of the fastest-growing economies in the world.Almost all of the eight goals of the United Nations Millennium Development Goals (MDGs) have made positive progress.Now the implementation of SDGs in sustainable development is progressing.

This is why it is ahead of many countries in the world including neighboring countries in terms of consistently high GDP growth, poverty alleviation, education, infrastructural development, reserves, remittances or remittance income, exports, per capita income, income, social security and other key indicators of the economy.Bangladesh is now a surprise to development partners. The Post-Independence Annual Development Program or ADP has reached Tk 2.25 trillion from a mere Tk 501 crore. Now per capita income exceeds 2765 dollars. While GDP growth was below 3 percent, it has now reached 8 percent.In the year after independence, exports of goods from just US$ 348.4 million increased 111 times in five decades to US$ 3.85 billion.

Expatriate income, which was nominal 50 years ago, has reached 25 billion a year.Export and expatriate revenue exceeded 48 billion foreign exchange reserves. Bangladesh is far ahead of India and Pakistan in almost all social and cultural indicators.Bangladeshs achievements in all indicators such as female education, population growth rate, income, trade deficit, poverty and extreme poverty reduction, safe drinking water, housing, school enrollment, maternal mortality rate, and infant mortality rate are universally recognized.So much for that success;Progress, arguably, in the three main sectors of the economy, agriculture, exports, and repatriation income, is dependent on capacity building in all other areas.

Bangladesh is the worlds top garment exporter after China.The sector was not in the list of export income 50 years ago, but in the fiscal year 2018-19, 3 thousand 413 million dollars came to the country from this sector, which amounted to 2 lakh 90 thousand 105 million taka in 2013.local currencyDespite the slight decrease in exports due to Corona, 83 percent of the total export earnings came from ready-made garments. In the last 53 years, the garment sector has changed the face of the countrys export earnings.Export income increased 96 times in five decades.The sector is advancing the prosperity of Bangladesh through employment of rural men and women, socio-economic empowerment of women and expansion of numerous allied industries.

What was once a hazardous factory has now been transformed into an eco-friendly garment factory.Bangladesh also tops the list of environmentally friendly factories in the world.What can be a bigger surprise than 53 years of independence?The sector is leading the global market by efficiently combining price, quality and lead time.The foreign currency earned in this sector is continuously increasing the reserves of Bangladesh Bank. Apart from this, the sector which is playing an important role in enriching and developing Bangladesh is expatriate income.Expatriates leave their families and loved ones to work day and night as expatriates and send the bulk of their earnings back home.Today, the prosperity of the country has come based on this.But from 1996 to 1997 the number of people working abroad was only 14 thousand now it is 1 crore 20 lakh 55,915 people.

The use of information technology is increasing.According to NBRs analysis, the countrys digital platform business will stand at around Tk 26,000 crore in the coming years. About 7 lakh youth are earning foreign currency from home through outsourcing using technology.The export income of this sector has also exceeded 1 billion dollars.Almost 100 percent of the countrys mobile phone sets are being manufactured. 100 Special Economic Zones have created huge domestic and foreign investment areas.

Hiren Pandit is a columnist and researcher







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