Basic issues in development of bangladesh

1. Basic Issues of Economic Development of Bangladesh Poverty

2. Poverty

3. Reality

4. Definition of Poverty

5. Poverty In Bangladesh • Poverty in Bangladesh have declined remarkably since the early-2000s, as result decades of accelerated economic growth. The remarkable progress in poverty alleviation has been recognized by international institutions.[1] • 1.  http://www.worldbank.org/en/news/speech/2016/10/17/learning-bangladesh-journey-toward-ending-poverty

6. World Bank Report • According to the World Bank, Bangladesh's poverty rate fell from 82% in 1972, to 18.5% in 2010, to 12.9% in 2016, as measured by the percentage of people living on the equivalent of US$1.90 or less per day in 2011 purchasing power parity terms.[2]

7. Based on the current rate of poverty reduction, Bangladesh is projected to eliminate extreme poverty by 2030, as well by become upper-middle income economy, according to the World Bank.[3][4][5] • Jump up^Misha, Farzana; Sulaiman, Munshi. "Bangladesh Priorities: Poverty, Sulaiman and Misha | Copenhagen Consensus Center". www.copenhagenconsensus.com. Copenhagen Consensus. Retrieved 7 April2016. • ^ Jump up to:abhttp://www.worldbank.org/en/news/press-release/2016/10/03/bangladesh-can-overcome-extreme-poverty-through-more-inclusive-growth • Jump up^Kopf, Dan. "Bangladesh's rapid growth is one of the world's happiest economic stories". qz.com. Quartz. Retrieved 11 April 2018.

8. The World Bank announced in June 2013 that Bangladesh had reduced the number of people living in poverty from 63 million in 2000 to 46 million in 2010, despite a total population that had grown to approximately 150 million.

9. While Bangladesh suffers from many problems such as poor infrastructure, political instability, corruption, and insufficient power supplies, the country's economy has grown 5–6% per year since 1996. At GDP, Bangladesh is the world's 44th country. According to the IMF, Bangladesh's economy is the second fastest growing major economy of 2016, with a rate of 7.1%.[6][7]

10. In parallel, life expectancy, literacy rates and per capita food production have increased significantly. • Rapid growth enabled Bangladesh to reach the lower middle-income country status in 2015. In 2018, Bangladesh fulfilled all three eligibility criteria for graduation from the UN’s Least Developed Countries (LDC) list for the first time and is on track for graduation in 2024.

11. Sustained economic growth has rapidly increased the demand for energy, transport and urbanization. Insufficient planning and investment have resulted in increasingly severe infrastructure bottlenecks.

12. To achieve its growth aspiration of becoming upper-middle income country by its 50thbirthday in 2021, the country needs urgently to implement structural reforms, expand investments in human capital, increase female labor force participation, and raise productivity through increased global value chain integration.  Improving infrastructure as well as the business climate would allow new productive sectors to develop and generate jobs.

13. Challenges • Bangladesh is both an inspiration and a challenge for policymakers and practitioners of development. While the income growth, human development and vulnerability reduction efforts to date have been extraordinary, Bangladesh faces daunting challenges with about 22 million people still living below the poverty line.

14. The country is at an important juncture, when with the right policies and timely action, it can move up within the middle-income bracket. The World Bank has identified job creation as the country’s top development priority. Bangladesh needs to create more and better jobs for the 2 million youths entering the job market every year.

15. To do so, Bangladesh will need to remove the barriers to higher growth posed by low access to reliable and affordable power, poor transportation infrastructure, limited availability of serviced land, uncertain and complex business regulation, rapid urbanization and vulnerability to climate change and natural disasters, among others.

16. Rural and Urban Poverty • The population in Bangladesh is predominantly rural, with almost 80 percent of the population living in rural areas.[8] Many people live in remote areas that lack services such as education, health clinics, and adequate roads, particularly road links to markets

17. An estimated 35 percent of the population in rural areas lives below the poverty line.[9] They suffer from persistent food insecurity, own no land and assets, are often uneducated, and may also suffer serious illnesses or disabilities. Another 29 percent of the rural population is considered moderately poor. Though they may own a small plot of land and some livestock and generally have enough to eat, their diets lack nutritional value.As a result of health problems or natural disasters, they are at risk of sliding deeper into poverty.

18. Women are among the poorest of the rural poor, especially when they are the sole heads of their households. They suffer from discrimination and have few earning opportunities, and their nutritional intake is often inadequate.

19. An estimated 21 percent of the population in urban areas lives below the poverty line.[9] People living in urban areas, like Sylhet, Dhaka, Chittagong, Khulna, and Rajshahi, enjoy a better standard of living, with electricity, gas, and clean water supplies.[10] Even in the major cities, however, "a significant proportion of Bangladeshis live in squalor in dwellings that fall apart during the monsoon season and have no regular electricity. These Bangladeshis have limited access to health care and to clean drinking water."[10]

20. In April 2016, the Asian Development Bank estimated of the 157.90 million people living in Bangladesh, 31.5% live below the national poverty line.[11]

21. Causes of rural and urban poverty • One of the main causes of poverty are endemic corruption and an incompetent government that does little to build infrastructure and good law. • One of the main causes of rural poverty is due the country’s geographical and demographic characteristics. • A large proportion of the country is low-lying, and thus is at a high risk to flooding.

22. Many of the rural poor live in areas that are prone to extreme annual flooding which cause huge damage to their crops, homes and livelihoods. • To rebuild their homes, they often have to resort to moneylenders, and that causes them to fall deeper into poverty. In addition, these natural disasters also cause outbreaks of cholera and other waterborne and diarrhoeal diseases such as dengue and malaria which will affect them physically and lower their productivity levels.[12][13][14]