Bangladesh has outpaced its neighbor India and Pakistan in terms of per capita income. Since its independence, Bangladesh was struggling hard to raise its economic condition. The country ranked somewhere near the poorest countries in the world.
Since then, Bangladesh is fighting hard. Now it just did not eradicate poverty at a fast rate its economy started to bloom. Now, Bangladesh enjoys a better economy. An economy that is better than its neighbors.
MA Mannan, Planning Minister of the country has informed the journalists that Bangladesh’s per capita income has increased to $2,227 from $2064.
Bangladesh stands before India with $280 more than India’s $1947 per capita income.
Khandkar Anwarul Islam, Bangladesh’s cabinet secretary briefs the reporters saying, “Bangladesh’s per capita income now stands at $2,227 for the fiscal year 2020-21. Previously it was $2,064. Where we experienced a 9% growth rate”
Despite being one of the world’s most densely populated countries Bangladesh has successfully battled poverty. After Five long years of Battle Bangladesh is now enjoying the benefits. Bangladesh’s per capita income even in 2007 was half of that of India. It shows how tremendous Bangladesh’s progress is!
IMF’s latest World Economic Outlook projected Bangladesh will well surpass India in Per Capita GDP by 2025.
Bangladesh GDP per capita stands 45 % higher than that of Pakistan now. Surely, the Bangladeshi government is proud and happy about this astounding achievement.
Once the bottomless basket is now among the most vibrant economies in the world. Bangladesh’s economy is one of the rapidly progressing economies in the world.
As Covid picks up Indian economy is facing hard times. Bangladesh will soon beat India in other fiscal and social indicators. It is taking less foreign aids and started giving loans to other poorer countries.
It is no longer an example of Henry Kissinger’s ‘basket case’ rather an example to follow and a vibrant one.