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Bangladesh's Journey Towards Development and Economic Inclusion

 Bangladesh has made significant advancements since obtaining independence in 1971. A nation primarily known for its agrarian landscape and extreme poverty, it undertook a revolutionary journey that finally resulted in the creation of an economy centered on manufacturing. International organizations and development partners have praised Bangladesh's economic success over the years. In 2026, Bangladesh will leave the group of least developed nations (LDC) after the UN General Assembly makes its decision. However, the International Monetary Fund (IMF), a global financial institution that closely tracks global macroeconomic conditions, has stated that Bangladesh's economic growth could surpass that of China's and India's. Bangladesh's economy has seen a remarkable shift from being primarily rural and agrarian to being increasingly urbanized and industrialized since gaining independence. In 1981, the GDP contribution of industry—including construction—rose from 9% to 14...

Bangladesh's Journey of Inclusive Development

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  Bangladesh is a "development surprise" that very few could have predicted, having persevered against overwhelming several problems over the past few decades. Bangladesh has developed into a $465 billion economy from a nation devastated by war in 1971. Among the many factors that contributed to the remarkable development of the nation were its robust economic growth, impressive levels of health and education, strong growth in exports and remittances, careful macroeconomic management, and enhanced ability to handle natural disasters. Many obstacles and weaknesses still exist, despite its remarkable accomplishments on many fronts. Instead of concentrating on a wide range of micro and sector-specific problems, we address a few key issues in this paper, such as the lack of policy tools to address inequality and promote inclusive growth, the low amount of money allocated to health and education, the difficulty of accessing high-quality healthcare and education, the inability to c...

Women’s Economy in Bangladesh

  Introduction: Over the past 50 years, Bangladesh's development story has been filled with unexpected developments and remarkable human resilience in the face of frequent natural and man-made disasters. The nation offers a unique example of a neo-liberal development model where social progress has greatly outpaced economic growth. The country's economic transformation has been primarily driven by social changes, which were started by women's empowerment. The state has played a pivotal role in this process by implementing prudent macroeconomic policies, managing disasters, allocating funds for public health and education, forming alliances with non-governmental organizations and civil society, and advocating for social policies that prioritize women's empowerment and grassroots activism.     Source of Income: In the workforce, women's participation has risen. According to the Bangladesh Bureau of Statistics (BBS) survey data published in March 2023, the female...

Metro Rail and Its Impact on the Economy

  The quickest, most popular, and most advanced urban transportation is the Metrorail. One of the world's most populous megacities is Dhaka. The Metrorail project was a prompt solution to Dhaka's traffic jam challenge. For that, we are grateful to the current administration. Bangladesh's Metrorail project allowed the country to join the modern transportation network, marking a significant accomplishment for its citizens after 51 years of independence. The nation's economy suffers tremendously from traffic bottlenecks. An additional $4.4 billion, or more than 15% of the nation's total budget, is spent on traffic congestion in Dhaka city each year, according to a 2018 BUET survey. Furthermore, as per the 2017 World Bank report, 3.8 million working hours are lost every day. The country's economy has suffered greatly as a result of the reduction in working hours. These negative effects will become positive ones because of the Metrorail. Experts believe through the...