Economic growth
Photo:Shafiq Islam / Driknews
Bangladesh Bank governor, Dr. Atiur Rahman, forecast that Bangladesh could achieve the middle income status by 2013 in terms of per capita gross income. Eminent economist, Dr. Debpriya Bhattacharjee viewed that it would take decades for Bangladesh to graduate from LDC status. World Bank, IMF and several other think tanks have their own different projections about this subject. Without going into this polemic, as an elderly conscientious person I would like to express humbly my own views about it through this column. I think the much talked about statistical economic data like GNP, GDP, Per capita income, CPI, Inflation, Deflation etc. etc. never ever reflect the real economic well and woe of every single citizen of any country of the world. In support of my contention let me cite two very best examples instantly. First, in terms of economic indicators growth-wise America is considered to be the richest and biggest economy of the world; despite the fact that the country has a huge number of population deprived of balanced food, standard health care, proper shelter, good education and the like---the basic demand of human life. Secondly, India is considered to be a global icon of miracle-economic growth; yet, after 62 years of its independence the country has 30% people languishing under abject poverty. The World Bank President very recently sounded a danger-alarm that the much touted 'growth' has actually more widened the divide between rich and poor all over the world. A UN Dhaka-report on world situation 2010 stated that it is time to change the conventional approach of the term 'growth' attributed to any particular country. For instance, the publication said despite registering steady economic growth the number of poor people in Bangladesh has increased from 44.2% in 1981 to 50.5% in 2005. It will be appropriate and connotative to brand and measure growth if and when we find an ordinary person in remote corner of Bangladesh is able to eat full, drink pure, wear at least coarse, afford basic health care, own a modest shelter to sleep, send his/her progeny to school and fulfil other fundamental aspirations of human life. Therefore, I would request all financial experts, regardless of geographical divide and denomination, to please put together and devise a wholesome, all inclusive, equitable and sustainable economic model to usher in a new dawn of hope and fulfilment for the mankind.
For all latest news, follow The Daily Star's Google News channel.
Comments