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Plan sees $2000 per capita income by 2021
Plan sees $2000 per capita income by 2021 | Business | bdnews24.com
Thu, May 10th, 2012 12:12 am BdST
Abdur Rahim Harmachi
bdnews24.com Chief Economics Correspondent
Dhaka, May 9 (bdnews24.com) With a target to increase per capita income to $2000 by 2021, the government has finalised a long-term perspective plan, which is scheduled to be approved by the National Economic Council (NEC) on Thursday.
The plan, titled 'Perspective Plan of Bangladesh 2010-2021: Making Vision 2021 a Reality', is the first long-term plan of the country, member of the Planning Commission's General Economics Department (GED) Shamsul Alam told bdnews24.com on Wednesday.
It would be cleared by the NEC in its Thursday's meeting to be chaired by Prime Minister Sheikh Hasina, he said. "It will be approved after taking everyone's opinion."
The Sixth and Seventh Five-Year Plans would be implemented during this period, he said.
According to the plan, the government would bring the annual rate of inflation down to 5.2 percent by that time through proper management of monetary and revenue policies.
The monthly average inflation rate is now 9.93 percent. It had been a double-digit figure for the past one year. The budget of the current fiscal had set a target to keep annual inflation rate at 7.5 percent.
The plan sets a target to make Bangladesh a middle-income country with $2000 per capita income by 2021, before the nation celebrates the golden jubilee of its independence the next year.
According to Bangladesh Economic Review 2011, per capita income was $818 in 2010-11 fiscal and $751 in 2009-10.
The plan includes three fundamental policies: to establish corruption-free society and ensure rule of law, to establish a developed organisational structure of government and provide highest assistance to the private sector for economic growth, and to make the government organisations more efficient.
It also envisages pulling down poverty rate to 22.5 percent in 2015 and 13.5 percent in 2021.
According to the 2010 account of the Bangladesh Bureau of Statistics (BBS), the country's current poverty level is 31.5 percent.
The perspective plan also mentions that the main strategy for poverty eradication would be giving push to high-growth manufacturing activities and creating job opportunities in the industrial sector.
To achieve the goal, it says, ensuring more public private projects, poverty alleviation, organisational structure for higher growth, and positive steps relating to globalisation and regional cooperation, raising better infrastructure, neutralising impacts of climate change and more inventions for a digital Bangladesh would be needed.
The summery of the plan recommends eight percent economic growth within 2015 and 10 percent within 2021 in order to take Bangladesh to the level of a middle-income country by 2021.
Bangladesh's economy grew 6.7 percent last fiscal. The budget of the current fiscal set a target of seven percent GDP (Gross Domestic Production) growth.
The plan targets to keep 32.1 percent of GDP for savings, 32.5 percent for investment by 2015, and 39.1 percent for savings and 38 percent for investment by 2021.
It also sets a target to cut the rate of unemployment to 20 percent within 2015 and 15 percent by 2021.
Finance minister A M A Muhith had said in May last year that the rate of fully unemployed people in the country was below 10 percent, while that of partly unemployed 30-40 percent.
bdnews24.com/arh/ost/nir/2345h
Plan sees $2000 per capita income by 2021 | Business | bdnews24.com
Thu, May 10th, 2012 12:12 am BdST
Abdur Rahim Harmachi
bdnews24.com Chief Economics Correspondent
Dhaka, May 9 (bdnews24.com) With a target to increase per capita income to $2000 by 2021, the government has finalised a long-term perspective plan, which is scheduled to be approved by the National Economic Council (NEC) on Thursday.
The plan, titled 'Perspective Plan of Bangladesh 2010-2021: Making Vision 2021 a Reality', is the first long-term plan of the country, member of the Planning Commission's General Economics Department (GED) Shamsul Alam told bdnews24.com on Wednesday.
It would be cleared by the NEC in its Thursday's meeting to be chaired by Prime Minister Sheikh Hasina, he said. "It will be approved after taking everyone's opinion."
The Sixth and Seventh Five-Year Plans would be implemented during this period, he said.
According to the plan, the government would bring the annual rate of inflation down to 5.2 percent by that time through proper management of monetary and revenue policies.
The monthly average inflation rate is now 9.93 percent. It had been a double-digit figure for the past one year. The budget of the current fiscal had set a target to keep annual inflation rate at 7.5 percent.
The plan sets a target to make Bangladesh a middle-income country with $2000 per capita income by 2021, before the nation celebrates the golden jubilee of its independence the next year.
According to Bangladesh Economic Review 2011, per capita income was $818 in 2010-11 fiscal and $751 in 2009-10.
The plan includes three fundamental policies: to establish corruption-free society and ensure rule of law, to establish a developed organisational structure of government and provide highest assistance to the private sector for economic growth, and to make the government organisations more efficient.
It also envisages pulling down poverty rate to 22.5 percent in 2015 and 13.5 percent in 2021.
According to the 2010 account of the Bangladesh Bureau of Statistics (BBS), the country's current poverty level is 31.5 percent.
The perspective plan also mentions that the main strategy for poverty eradication would be giving push to high-growth manufacturing activities and creating job opportunities in the industrial sector.
To achieve the goal, it says, ensuring more public private projects, poverty alleviation, organisational structure for higher growth, and positive steps relating to globalisation and regional cooperation, raising better infrastructure, neutralising impacts of climate change and more inventions for a digital Bangladesh would be needed.
The summery of the plan recommends eight percent economic growth within 2015 and 10 percent within 2021 in order to take Bangladesh to the level of a middle-income country by 2021.
Bangladesh's economy grew 6.7 percent last fiscal. The budget of the current fiscal set a target of seven percent GDP (Gross Domestic Production) growth.
The plan targets to keep 32.1 percent of GDP for savings, 32.5 percent for investment by 2015, and 39.1 percent for savings and 38 percent for investment by 2021.
It also sets a target to cut the rate of unemployment to 20 percent within 2015 and 15 percent by 2021.
Finance minister A M A Muhith had said in May last year that the rate of fully unemployed people in the country was below 10 percent, while that of partly unemployed 30-40 percent.
bdnews24.com/arh/ost/nir/2345h
i have not met a single person who shows their real income....not one....
