The economy has advanced beyond the golden jubilee expectations of victory It is predicted to become one of the 25 largest economies in the world by 2032

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The economy has advanced beyond the golden jubilee expectations of victory It is predicted to become one of the 25 largest economies in the world by 2032



In the golden jubilee of victory (1981-2021), the economic picture of the country has progressed more than expected. Of course, in many cases there is a backwardness. Bangladesh has not been able to reach the expected position especially on important indicators like investment and employment. After a long 9-month bloody war, Bangladesh got the red-green flag. Behind the indomitable persecution of the Bengalis for independence was the direct inequality of the two Pakistan. And now Bangladesh has surpassed Pakistan by overcoming that inequality. Sonar Bangla, which has passed 50 years of independence, is ahead of Pakistan in various indicators of economy and human development.


However, Henry Kissinger, the then US Secretary of State, described Bangladesh as a "bottomless basket". But Henry Kissinger's "bottomless basket" is now a powerful box - the emerging economy of South Asia. In some indices, it has surpassed many countries in the world. In the last one decade, Bangladesh has witnessed unprecedented development in all indices. Bangladesh has received UN recommendation to cross the list of Least Developed Countries (LDCs). If all goes well, Bangladesh will no longer be a least developed country on the UN list from 2026. Economists say Bangladesh's achievements in 50 years are incredible. Bangladesh has done what the world could not think.


The garment industry in Bangladesh is one of the largest in the world. Until 1980, Bangladesh's economy was mainly dependent on jute and jute products. At that time the country earned most of its foreign exchange by exporting jute. With the advent of the polypropylene age in the world, the demand for jute products declined rapidly, but that gap was gradually filled by the readymade garments sector.


The garment sector contributes the most to the economic development of Bangladesh. 7-8 percent of the total growth is coming from the garment sector. This industry of Bangladesh is being imitated by the developing countries including the developed world. The garment industry is the only medium that has made our economy stand after independence. Through this industry, they are able to show their hard work and production skills in the world. The Center for Economics and Business Research (CEBR), a UK-based research institute, has predicted that Bangladesh will be one of the 25 largest economies in the world by 2032.


The first report on the economy of Bangladesh published by the World Bank on 25 September 1972 in an independent country was full of frustration with Bangladesh. The World Bank said, "Even in the best of circumstances, Bangladesh is a delicate and complex development problem. The people of the country are poor. Per capita income is থেকে 50 to 60, which has not increased in the last 20 years. It is a very populous country (population about 1,400 per square mile) and population is growing (population growth at 3 percent per year) and most of its people are illiterate (literacy rate is less than 20 percent).


Exactly five years after independence, in 1986, Norwegian economist Just Faland and British economist J. R. Parkinson wrote in a research book, Bangladesh: The Test Case of Development, that "the situation in Bangladesh is so bad that if this country can improve, then it can be said that any country in the world can improve."


While Bangladesh is celebrating the golden jubilee of independence by dispelling those doubts, Bangladesh is a role model of development in many respects. Now the reports of various international organizations, information of research institutes and economists of different countries and responsible persons of the government can be heard praising the development of Bangladesh. Bangladesh is known by many names of prosperity in the research reports of various organizations.


The UN report gives a clear idea of ​​the greatest measure of the height of these enviable achievements. In the eyes of this international policy-making body, Bangladesh is now a developing country with the LDC status.


Unprecedented success has also been seen in food grain production in Bangladesh. The country is now able to produce almost four times more food grains than at the time of independence.


The shift in the post-independence economy of Bangladesh is easily understood in the major indicators of the country's economy. According to the Bangladesh Bureau of Statistics (BBS) and Bangladesh Bank, the first data available on these indicators shows that in the financial year 1982-1973, the size of the economy of Bangladesh was ৯ 829 million, per capita income was ৮৮ 8, export income was only কোটি 340 million. At that time reserves were Tk 110 crore, import expenditure was ৬ 226 crore, revenue income was Tk 265 crore and poverty rate was 60 percent. In 1978, remittances were কোটি 16.3 million.


Fifty years later, export earnings have multiplied from millions of dollars to billions of dollars. In 2021-22, the export target has been set at 5 billion 1 billion dollars. The size of GDP is 34 lakh 57 thousand 40 crore rupees. The per capita income is ৫ 2,554. Reserve হাজার 4.6 billion. Imports have risen to ৬ 8,08 billion, and revenue has risen to Rs 3,79,000 crore. Remittances have risen to ২৫ 25 billion, which has been a major contributor to the country's poverty alleviation. In the last 50 years, the poverty rate has come down from 80 percent to 20.5 percent. In the year of Golden Jubilee, Bangladesh is now giving loans from its own reserves for various development projects. Not only in the country, for the first time Bangladesh has also provided loan assistance to Sri Lanka from the reserve.


Economy

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