16/12/2021 - Economy

KEY POINTS

·        Bangladesh has made rapid strides in economic development, for its part, has ambitiously raised its sights to be among the largest 25 economies in the world by 2030, and a developed and prosperous nation by 2041.

·        The narrative of this nation’s turnaround in economic fortunes is best reflected in its position vis-a-vis Pakistan.

·        For the first time in 2019, its nominal GDP exceeded that of Pakistan by 9%, at $302.6 billion.

·        Bangladesh’s resilience is largely due to its model of development. It is a frontrunner in improving the socio-economic conditions of its population, especially women.

·        A much higher proportion of workers such as school teachers, family planning workers, health carers, immunisation workers and even garment factory workers are women.

·        Huge gains on the health front are reflected in lower rates of infant, child and maternal mortality. Primary school enrollment ratios, too, are higher. Life expectancy at birth was higher in India in 1990, but that rapidly reversed in the succeeding decades.

·        Bangladeshis currently have a life expectancy three years longer than a typical Indian or five years than a Pakistani. India’s economy may be 8-times larger but it has much to learn from Bangladesh to improve its baseline of human development.

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