Bangladesh presents a very interesting story of human development and its limitations. While the country has been able to achieve incredible successes in terms of the level of poverty reduction, economic growth, and improvements in the quality of people’s lives, an underside of life exists. Inequality flies a high flag with a gap that is increasingly growing between the rich and the poor. This shows up in many ways: good education and healthcare for some, absence of basic needs for others. Progress has not reached everyone equally; it has left many behind in its wake, creating a society where opportunities are divided very unfairly. This palpable inequality threatens to take away from the very progress Bangladesh has been working so hard for-bars the nation from attitude and leaves a lot of its people behind.
Economic Growth and Poverty Reduction
The Bangladeshi economy has been subjected to a sea change recently with its above-average annual GDP growth rate of more than 6.5%, fueled by the booming ready-made garments along with a robust domestic consumption and growth in export earnings, geared towards graduation from the LDC bracket by 2026.
These changes bring with them various opportunities and challenges. Most importantly, poverty reduction has been laudable in the country: extreme poverty went from 12.9% in 2016 to 5.6% in 2022, while the rate for upper poverty fell from 24.3% to 18.7%. These milestones in reduction signify the success of governmental programs like the “Skills for Employment Investment Programme” and the “Employment Generation Programme for the Poorest,” which especially concentrate on enhancing the capacities of vulnerable groups and offering them sources of livelihood. Improved nutrition and access to basic services have resulted in better health outcomes. For instance, the share of per capita calorie intake has seen a fairly reasonable increase since 2016. The economic progress has lifted millions out of poverty and helped them build a much better future for their families.
Income inequality
Despite impressive economic progress, income inequality has long been viewed as one of the major challenges facing Bangladesh. A significant amount of wealth lies within the richest 10% of the population, whereas millions remain in poverty. Besides, the gulf between urban and rural settings has also been widening because most opportunities, and consequently higher wages, are located in Dhaka and Chittagong, the country’s two largest cities. Consequences of such an unequal society include division in societal benefits of economic growth, where social and economic imbalances prevail.
Gender inequality
Despite the high contribution of women to the economy in Bangladesh, especially in the garment industry, there is massive gender inequality. Compared to men, the participation rate of the labor force is far lower, with many women relegated to low-paid, insecure employment. While microfinance initiatives have empowered some women, they cannot be viewed as the solution to all the systemic barriers in their path to economic progress. The reduction of gender disparities is thus an important determinant of equitable social progress in Bangladesh.
Social Factors and Barriers
Bangladesh has experienced impressive social development, particularly within education and healthcare. Literacy rates have improved significantly, reaching approximately 76.8% in 2023 compared to the observed rate of 45% in 2006. The country has, meanwhile, dramatically improved access to safe drinking water and sanitation, almost achieving full population coverage. However, certain challenges remain: child nutrition is another critical issue that constitutes another critical issue, with the prevalence of stunting among children under five being high. The education system is burdened with a high dropout rate for girls, further reducing their future opportunities. While health infrastructure has increased, service delivery and quality remain to be further improved, especially for the most marginalized communities. Bangladesh is one of the most vulnerable countries to climate change. Rising sea levels, increasing calamities due to weather changes, and salination hit rural Bangladesh heavily, causing a loss in livelihood and displacement of poor people from their homes. While initiatives have been taken in that direction, those are insufficient, considering the severity of the matter. Climate-induced migration and displacement will further lead to added inequalities, thus posing a serious social challenge for the country.
Thus, notwithstanding the rapid pace of economic growth and social development, the challenge of inequality remains paramount in Bangladesh. Reaching these Sustainable Development Goals calls for an inclusive growth policy that should provide social protection and strive for regional balance. Furthermore, further investment in education and health, as well as the realization of gender equality, will become cardinal for citizens to actually benefit from development. While graduating from LDC status, Bangladesh has to stress the imperative for a more equitable society where benefits from growth are shared by all.
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Writer,
Nayela Binte Azad
Intern,
Content Writing Department,
YSSE.