Bangladesh celebrates its fifty years of independence in 2021. Bangladeshi people fought a nine-month long war against economic, political and cultural suppression by the then West Pakistan. The newly born country aimed to establish a country where progress, equity and justice would inform the developmental philosophy.
At the time of independence Bangladesh inherited a vulnerable economy characterized by a large population, stagnant agriculture, small manufacturing sector and underdeveloped infrastructure. Five decades on, the country has achieved several mile- stones. It has been able to accelerate the growth rate from about 4.8 per cent in the 1990s to 5.8 per cent in the 2000s, and to 7 per cent in the 2010 decade. This has yielded an increase in its gross domestic product (GDP). Increased GDP and decline in population growth rate have resulted in a higher per capita income. Thus, from only USD 90 in 1973, Bangladesh has now achieved a per capita income of USD 2064 in 2020. As a result, poverty declined from over 80 per cent in the early 1970s to 24.2 per cent by 2016. The country has also become food self-sufficient thanks to higher agricultural production driven by government’s policy support, and the use of technology and innovation to create a high yielding variety of rice.
Author: Dr Fahmida Khatun, Executive Director, CPD
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