1.29cr new jobs by 2020

Eying to minimise income disparity of the citizens, about 1.29 crore new jobs would be created over the period of the new five-year plan, although 99 lakh people are expected to join the workforce during the period.

Besides, the poverty rate is also targeted to be reduced by 6.2 percent to 18.6 percent, maintaining on an average 7.4 GDP growth each year, according to the Seventh Five Year Plan (SFYP).

The plan starts in fiscal 2015-16 and ends in fiscal 2019-20. It has been formulated with the theme "Accelerating Growth, Empowering Citizen".

The SFYP will be placed today before National Economic Council (NEC), the country's highest economic policymaking body, for final approval, Shamsul Alam, member of Planning Commission (General Economic Division) told BSS.

Of the 1.29 crore new jobs, the domestic market would accommodate 1.09 crore people while the remaining would be employed abroad.

In the next five years, the average GDP growth has been estimated at 7.4 percent. The GDP growth will cross 7 percent this fiscal while 8 percent in the last year of the plan.

For making an industry-based economy, contributions of agriculture to GDP will be brought down to 12.99 percent in 2020 from 16.1 percent in 2014.

Besides, the share of industries will go up to 33 percent in 2020 from 27.6 percent.

According to the plan, some Tk 31,903 billion will be required for implementation of the SFYP, of which 90.4 percent (Tk 28,851 billion) will be mobilised from domestic sources while the remaining 9.6 percent (Tk 3,052 crore) from external sources.

Towards the journey, the government will contribute Tk 7,252 billion while investment from the private sector will be Tk 24,651 billion, as per the estimate.

During the SFYP, the government plans to raise the investment-gross domestic product ratio to 34 percent.

In the SFYP, the government has aimed to implement big projects related to infrastructure that are expected to pave the way for investment from private sector.

In the next five years, an estimated 12,584 megawatts of electricity is planned to be generated, of which 61 percent (7,682 MW) would come from public sector while the rest from private sector.

The government has set a target to complete Padma bridge and Dhaka Elevated Expressway during the tenure of SFYP. Besides, about 856 kilometres of new rail tracks will be laid and electricity from Rooppur Nuclear Power Plant will be generated.

Building a deep seaport and the Paira Seaport, the MRT-6 (mass rapid transit) project and the liquefied natural gas (LNG) terminal will also be prioritised in the plan.

On the other hand, the government has planned to increase expenditure to 1 percent of the total GDP from 0.6 percent for research and development in information and communication technology.