By Md. Israfil Bhuiyan
Bangladesh is a relatively young country, having gained her independence just over 50 years ago. However, despite its youth, the country has made remarkable progress in reducing poverty and increasing overall prosperity over the last five decades. Through its struggle for independence, economic development, and social change, Bangladesh has transformed into a strong nation.
When it was born as a new country on December 16, 1971, Bangladesh was the second poorest country in the world. Struggling for independence, it initially earned a reputation on the international stage as a “bottomless basket.” In the 1970s, the world saw the newly independent Bangladesh as a nation plagued by food shortages, famine, and natural disasters.
“Since then, poverty has rapidly decreased by more than half. Enrollment in primary schools is now universal. Hundreds of thousands of women have entered the workforce. Stable progress has been made in maternal and child health. The country has also become stronger against the devastating forces of climate change and natural disasters.
In 1979, the export of ready-made garments began. To develop and expand the ready-made garment industry, the government introduced two policies in the early 1980s. This revolutionized Bangladesh’s ready-made garment industry. According to Asian Canter for Development (ACD). Gradually, the contribution of the garment industry to exports reached 85%. Employment of women in the garment industry and the employment of rural workers abroad have led to increased demand. In garment production, Bangladesh ranks third after China and Vietnam.”
The use of fertilizers, advanced technology in agriculture, and improvements in communication systems led to a significant increase in crop production growth rate in the late 1990s and the early 21st century. According to Bangladesh Bureau of Statistics (BBS).In 1972, the country’s rice production was 1 million tons, and by 2020, it exceeded 38.2 million tons. Bangladesh is ranked third in the world for rice production.
In 2018, Bangladesh was upgraded from the “least developed” category to the “developing” country category. This was officially declared by the United Nations General Assembly on November 24, 2021. Bangladesh has achieved remarkable success in economic and social areas. According to Bangladesh Bureau of Statistics (BBS).ln 1973-74, the GDP was 8 billion dollars, and by 2021, it increased to 409 billion dollars. In 1972, 82% of the population lived below the poverty line, and by 2019, the poverty rate decreased to 20.5%. The extreme poverty rate has fallen to 10.5%.
The government’s greatest achievement is the development of the country’s infrastructure. By constructing roads, bridges, culverts, flyovers, railways, schools, colleges, and health centers, the government has improved urban and rural citizens’ access to civic amenities, thus bringing comfort to their lives. After the commencement of the Padma Bridge construction with domestic funding, an additional 10-12 mega projects are currently being implemented with foreign funding.
Bangladesh is one of the countries actively combating the adverse effects of climate change. Keeping this harsh reality in mind, the government has formulated a century-long development plan called ‘Bangladesh Delta Plan 2100.’
Bangladesh has now established a strong presence on the international stage. Adhering to the foreign policy of ‘friendship with all, malice towards none,’ the government is working to improve diplomatic and trade relations with all foreign countries. It is participating in United Nations peacekeeping missions and playing an active role in international development cooperation.
Nobel-winning economist Amartya Sen mentioned in one of his books that, in various social indicators such as life expectancy, literacy rate, population control, reduction in child and maternal mortality, and enrollment rates in primary education, Bangladesh has performed better than India and Pakistan. In the past fifty years.
Bangladesh’s achievements can be compared across several other indicators. Bangladesh Bureau of Statistics (BBS),in 1972, the life expectancy was 46.5 years, while today it stands at 72.8 years. In 1972-73, the revenue income was 166 crore Taka, which reached 2 lakh 60 thousand crore Taka in 2020-21, meaning revenue increased by 1,566 times. In 1972-73, the size of the budget was 786 crore Taka, which increased to 60 lakh 3 thousand 681 crore Taka in the 2021-22 fiscal year, meaning the budget size grew by 768 times.
Bangladesh is now the world’s wonder and a model of development. From being a least developed country, it has transformed into a developing nation and dreams of becoming a developed country by 2041. Bangladesh is now one of the five fastest-developing countries. According to a 2020 report by the influential magazine The Economist, Bangladesh ranks ninth among 66 emerging strong economies.
However, despite the commendable economic development in various sectors over the 50 years since independence, some problems and challenges hinder or weaken our progress. In the last decade, Bangladesh’s economic growth has faced several significant challenges. In the fiscal year 2024-25, the real GDP growth dropped to 5.2%, down from 5.8% in 2023. Inflation remained high. The weaknesses in the financial sector increased, and pressure in the foreign sector continued. However, in the medium term, growth may gradually recover.
To achieve the goal of becoming an upper-middle-income country, Bangladesh must create a competitive business environment, increase human resources, build a skilled workforce, develop effective infrastructure, and establish a policy environment that will attract private investment. Money laundering through illegal transfer of funds abroad, willful loan defaults, embezzlement of bank funds, and unethical politics practiced by certain individuals hinder our progress. To tackle these challenges, including the fight against corruption with a “zero tolerance” policy, both the government and citizens must take united steps with patriotism. Thus, Bangladesh is expected to become an advance and prosperous country by 2041.
The Writer is a Member of Social Research Group (SRG) and an undergraduate Student of Public Administration, Comilla University. This is a work in progress.
