Poverty alleviation and inclusive growth

Enhance poor people’s participation in economic activities

Published : 24 Mar 2022 08:30 PM

Bangladesh has achieved remarkable success in poverty alleviation over the last decade, thanks to the relentless efforts of the incumbent government for prioritising poverty alleviation in its development agenda. It is worth mentioning that the incumbent  government has successfully reduced the country’s poverty rate by 50 percent in the last ten years.  However, the country has set an ambitious target to alleviate extreme poverty to 2.3 percent by 2031 and moderate poverty to below 3 percent by 2041. In order to chase this target within the stipulated time,  necessary initiatives should be taken to address some key issues such as climate change, natural disasters and weak rural infrastructure which have long been deterring our efforts towards eradicating poverty.

Apart from giving allowance, it has become more of a 

necessity to involve the poor in income-generating works

In view of enviable success in various socio-economic indicators in the last decade under the pragmatic leadership of Prime Minister Sheikh Hasina, Bangladesh has now become a middle-income country. The remarkable development that the country has gained over the last ten years has instilled the confidence into people that becoming a developed nation is very much possible. Gone were the days when poverty and Bangladesh were synonymous for many years to the international community. The scenario has changed and Bangladesh's efforts to eradicate poverty are now very well recognised and admired throughout the world.  

Though we have achieved enviable success in poverty alleviation, the rate of poverty reduction is not adequate compared to the country’s striking growth rate. Also, the rich-poor divide has been growing remarkably in Bangladesh. Hence,  the government should give more priority to inclusive and micro-level development than economic growth. In order to make our economic growth more inclusive, the government must take initiatives for enhancing poor people's participation in economic activities. The global health crisis caused by Covid- 19 has hit Bangladesh's economy hard and jeopardised the country's impressive achievements in poverty reduction. There is no denying that the government is providing allowance for the poor and needy. But apart from giving allowance, it has become more of a necessity to involve the poor in income-generating works.