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LATEST NEWS UPDATES | See Sonar Bangla shine and leave behind India, Pakistan on economic & social indices -Mani Shankar Aiyar

See Sonar Bangla shine and leave behind India, Pakistan on economic & social indices -Mani Shankar Aiyar

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published Published on Jan 13, 2022   modified Modified on Jan 21, 2022

-The Telegraph

With a per capita income at a whopping $2554, poverty is down; exports are up and GDP is fueled by both agriculture and manufacturing; but the downside is a growing nexus between politics and business

There is justifiable pride all around at Bangladesh’s remarkable performance in both the economic and social development dimensions. “Pakistan and India don’t matter. We have done better than both!” The figures speak for themselves.

The renowned Bangladesh economist, Rehman Sobhan, Amartya Sen’s great friend since their undergraduate days together at Cambridge, hands to me a lecture he has delivered at the Centre for Policy Dialogue on 6 December 2021 titled “Promises Kept and Promises to Keep”.

It dramatically summarizes where East Pakistan stood vis-à-vis the West wing on the eve of Liberation and how Bangladesh @ 50 compares to Pakistan today. Its per capita income has zoomed from around $90 at Liberation to $2554 now. Thus, where per capita income in nominal US dollars then lagged 61 per cent behind Pakistan, it is now 64 per cent higher! Today, its savings ratio is nearly three times that of Pakistan and its investment ratio double. This is reflected in the “more robust rate of expansion of infrastructure”, well-illustrated by power capacity and electricity generation, which were behind West Pakistan at Liberation, being “around 40 per cent higher than Pakistan” half a century on. Bangladesh has, I am told, the highest concentration of rural roads in the world. The average annual growth rate of GDP, I am informed by the Foreign Minister, has steadily risen from a low of 3.2% in the period of military dictatorship from 1975 to 1990 to 4% in the following period of elected coalition governments, 1990-2008, to a crackling 6.6% in Sheikh Hasina’s premiership since 2009.

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The Telegraph, 13 January, 2022, https://www.telegraphindia.com/world/see-sonar-bangla-shine-and-leave-behind-india-pakistan-on-economic-social-indices/cid/1847390#.YeDT34SZWdc.twitter


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