Bangladesh's economy is developed, underdeveloped, or developing? (Part 1)
The concept of economic development is very ancient. But the concept of economic growth is much newer than economic development. Although economic development and economic growth are often considered synonymous, there are fundamental differences between the two. The concept of economic development is broad and broad. While an overall picture of the economy can be achieved through development, it may not be achieved through growth.
In order to judge whether the economy of Bangladesh is developed, underdeveloped, or not developing, it is necessary to discuss the present features of the economy of Bangladesh in order to judge whether the economy of Bangladesh is developed, underdeveloped or not. Developed countries refer to those countries which are developed in all aspects of the economy. And underdeveloped countries mean those countries which have stagnant economic conditions. On the other hand, developing countries are those countries which have already achieved some economic development and are gradually moving towards development.
Low per capita income 5 The per capita income of the people of Bangladesh in 2001 was 38 US dollars and in 2008 it was 520 US dollars. Per capita income is much higher in developed countries. For example, in 2004 the per capita income of Switzerland was 48,375 US dollars and in the United States it was 39.63 US dollars. Compared to that, the per capita income of the people of Bangladesh is much lower than that of the developed countries.
High dependence on agriculture and 85% of the people in Bangladesh depend directly or indirectly on agriculture. Dependent. In 2005-06, the contribution of agriculture to the national income was about 16.98% and the growth rate was 5.23%.
Despite being an underdeveloped agricultural system and an agricultural country, the agricultural system of Bangladesh is very underdeveloped. Agriculture in this country still has traditional farming methods, land fragmentation, improved seeds, fertilizers, lack of irrigation, dependence on monsoon winds, etc.
Backwardness in industry and Bangladesh is very backward in industry now. Although different governments took initiatives to set up industries at different times, it was not implemented properly. The contribution of the industrial sector was 16.08% in the financial year 2005-06. In the fiscal year 2007-08, it increased to 16.89%, which is much less than the developed countries of the world. The contribution of industry in Japan and the United States is much higher.
The problem of unemployment in this country is very obvious. The rate of savings and capital formation of this country is lower than the population growth. As a result, adequate investment is not possible. Due to this, the problem of unemployment has not improved much. However, with the introduction of EPZ in public and private initiatives, it is expected that the unemployment problem in the country will be reduced in the future. The amount of savings and investment is higher in developed countries. For this reason, there is no problem of unemployment in their country.
Rules of life. The standard of living of the people of this country is very low. But now the standard of living has improved a bit. In 2004, the average life expectancy increased to 74.4 years for males and 65.7 years for females. Drinking water consumed 96.3% and sanitary toilet users 41.22%. Improved on the other hand. The standard of living in the country is very good. However, the standard of living of the people of Bangladesh is steadily improving.
Education Nidhar 5 As per 2001, the literacy rate in Bangladesh is only 36%. But this rate is much higher in developed countries. However, the rate of education in Bangladesh is steadily rising.
Lack of skilled manpower and large population in Bangladesh, but there is a significant shortage of skilled manpower. Various activities have been taken to increase the efficiency of the manpower of this country. However, the rate of education in developed countries. And training opportunities are more. For this reason, the manpower of developed countries is much more efficient than that of Bangladesh.