An Analysis Of The Bangladesh Economy Economics Essay
Bangladesh is situated in the Bay of Bengal in south Asia. It is bounded by India to the west and north; to the southeast, it borders Myanmar. It is mainly a low-lying floodplain. About one third the total area is deltaic and is prone to flooding in the rainy season from May through September. The river Ganga flows into the country from the northwest, while from the north enters the river Jamuna. Dhaka is the capital city and is near the point where those river systems meet. Hardwood forests are present in the Chittagong hill tracts. The vast river delta area is home to the dominant plains culture. The hilly areas of the northeast and southeast are occupied by much smaller tribal groups occurred mainly hilly regions of the southeast and many have strongly resisted control by the national government and the inhabitants pressure from Bangladeshis who move into and try to settle in their traditional areas.
Bangladesh is the most densely populated no island nation in the world. With approximately 135 million inhabitants living in an area of 55,812 sq miles, there are about 2,233 persons per square mile. The mainstream of the population (98 percent) is Bengali, with 3 percent belonging to tribal and other non-Bengali groups. About 83 percent of the population is Muslim, 18 percent in Hindu. Urbanization is scheduled rapidly, and it is estimated that 33% of the population entering the manual labour force in the years to come will be a part of agriculture, though many will likely find other kinds of work in rural areas. The areas around Dhaka and Comilla are the most densly populated.
Area: 147, 575 sq. km.
Cities: Capital--Dhaka . Other cities--Chittagong , Khulna , Rajshahi.
Terrain: Mostly flat alluvial plain, with hills around the northeast and southeast.
Religions : Muslim 83%; Hindu 16%; Christian 0.3%, Buddhist 0.6%, others 0.3%.
Languages: Bangla (official, which is also known as Bengali), English.
Work force (70.86 million): Agriculture, forestry, and fisheries--63%;production--11%;mining and quarrying--0.2%.
. Bangladesh has a relatively young populace, where 0-25 age group comprise 65%, while 3% are 65 or older. The important tribal groups outside the Hill tract are the Santhals and the Garos. Also there are Kaibartta, Meitei, Mundas, Oraons, and Zomiethnic groups. Human trafficking has been a everlasting problem in Bangladesh and illegal immigration has been a cause of resistance with Burma and India. Health and education levels have lately improved as poverty levels have reduced. Bangladeshis mostly are rural, living on survival farming. Health problems abound, ranging from water contamination, to arsenic contamination of groundwater and diseases including malaria , typhoid. leptospirosis and dengue
Bangladesh is a united state and parliamentary democracy. Direct elections in which all people, aged 18 or over, can vote are held once in five years for the parliament known as Jativ Sangsad. The parliamentary building is known as the Jatiyo Sangshad Bhaban. Currently the parliament has 345 members together with 45 retained seats for women, elected from single-member constituencies. Bangladesh is governed by a multi-party parliamentary system of government. Other ministers, state ministers and deputy ministers are appointed by the Prime Minister. The Prime Minister nominates the cabinet members from among Parliament members and one-tenths of the total members are from outside of the Parliament. The cabinet is collectively accountable to the Parliament.
The President's powers are by far expanded during the tenure of a government, which is held accountable for the behaviour of elections and transfer of power.The Constitution of Bangladesh was drafted in the year 1972 and has undergone fourteen amendments. The top judicial body is the Supreme Court. Justices are appointed by the President. Laws are based on English common law, but family laws such as matrimony and inheritance are based on religion , and are different for different religious communities. The two major parties in Bangladesh are the Bangladesh Awami League and the Bangladesh Nationalist Party (BNP). BNP gets its support among Islamist parties like Jamaat-e-Islami Bangladesh and Islami Oikya Jot, whereas Sheikh Hasina's Awami League aligns with leftist andsecularist parties. Student politics is considerably strong in Bangladesh, Two radical terrorist organizations, Jagrata Muslim Janata Bangladesh (JMJB) and Jama'atul Mujahideen Bangladesh (JMB), were banned in February 2005..
Bangladesh is an agricultural country. About half the population is occupied in farming. The land is used mainly to rice and jute cultivation of rice, fruits and produce Although wheat production has risen in recent years; the country is mostly self-sufficient in rice production. Bangladesh's growth of its agro industries is due to its wealthy deltaic fertile land that depends on its various seasons and several harvests. The most important barriers to expansion include frequent storms and floods, inefficient state-owned enterprises, inadequate port amenities, a rapidly growing work force that is insufficient for agriculture, delays in exploiting energy resources (natural gas). Economic in many cases by political infighting and dishonesty at all levels of government. Development also has been choked-up by opposition from the bureaucracy and other vested interest groups. The For higher GDP growth, reserves in both public and private sectors will need to be amplified. The existing political and economic stability has greatly encouraged investment in the private region. The trend of foreign direct investment is very hopeful.
The government is committed to market economy and has been pursuing policies for heartening private investment and eliminating non productive expenditures in the public sector. An amount of measures have been taken to emphasize the planning system and deepen reforms in the financial sector. The present government consider that waste of resources is a far greater barrier to development than insufficient resources.
It is known that corruption has led to a cut in the growth of the country. Also terrorism was allowed to freeze law and order. Administration was centralized at the price of local administration institutions. The government has, therefore, certain to decentralize administration in the fastest possible time.
occupationally, 75 percent of the labour force, which is currently estimated at 57 million, engaged in agriculture. About 12 percent is occupied in industry. Unemployment is approximated at around 18.5 percent.
Along with this is the problem of unequal allotment and fragmentation of land in the rural areas. This is expected to progress with more vigorous efforts at poverty mitigation and raising of educational and social consciousness. slowness of the agricultural sector has resulted in its increasing reliance on the whims of nature and the per capita daily availability of food grains coming down to low level of 435 gram
As the country steps to the 21st century, it aims at accelerated economic expansion, human resource development and self-reliance. Central to all the pains to reach those targets will be rural development, involving women in all national conduct and creating a well-educated healthy country to be able to face up to the problems of a fast stirring technologically advanced global society.
The performance of agricultural sector has an overpowering impact on major macroeconomic objectives like employment generation, poverty, human resources development and food safety.
Meeting the nation's food needs remain the key-concern of the government and in recent years there has been considerable increase in grain production. However, due to calamities like flood, loss of food and cash crops is a recurring phenomenon which disrupts the continuing progress of the entire economy.
Agricultural holdings in Bangladesh are normally small. Through Cooperatives the use of modern machinery is slowly gaining popularity. Rice, Jute, Sugarcane, Potato, Pulses, Wheat, tobacco and Tea are the main crops. The crop sub-sector dominates the agriculture sector contributing about 72% of total production. Fisheries, livestock and forestry sub-sectors are 10.33%, 10.13% and 7.31% respectively.
Bangladesh has a good quality number of large, medium and small-sized industries in equally public and private sectors based on both indigenous and imported materials. Among them are jute, cotton, textile, fertilizer, manufacturing, shipbuilding, steel, oil-refinery, paper, sugar, chemicals, cement and leather. In recent years, Ready Made Garments Industry has replaced Jute as the main export-earner for the country. Considerable development has been attained in the past couple of years in industries such as leather, ceramic, fish, pharmaceuticals and frozen food.
With the growth of infrastructures, supportive policies for trade and investment and comparative advantage in labour-intensive Industries, outstanding prediction for investment exist in Bangladesh today. Foreign investors are torrential into the country in greater numbers everyday, particularly in the export processing zones special amenities active at Dhaka and Chittagong.
Bangladesh has made noteworthy work in its economic sector since its independence in 1971. Although the economy has enhanced greatly in the 1990s, Bangladesh still suffers in the area of foreign deal in South Asian region. Despite major impediments to growth like the inadequacy of state-owned enterprises a rapidly growing labor force that cannot be absorbed by agriculture, insufficient power provisions, and sluggish execution of economic reforms, Bangladesh has made a slight headway recovering the climate for foreign investors and liberalizing the capital market For example, it has negotiated with foreign companies for oil and gas investigation, better nationwide distribution of cookery gas, and the produce of natural gas pipelines and power stations Progress on other economic reforms has been tentative because of opposition from the bureaucracy, public sector unions, and other vested concerned groups. The especially harsh floods of 1998 enlarged the country's reliance on large-scale international assist. So far the East Asian financial crisis has not had major collision on the economy. World Bank predicted economic growth of 6.5% for current year. Foreign support has seen a decline of 10% over the last couple months but economists see this as a positiv sign for self-reliance.
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