GDP growth and welfare

Bangladesh has topped among many countries in the list of GDP (gross domestic product) growth in the last 10 years. According to the just-released Spectator Index based on current prices since 2009, the country's GDP has grown by 188 per cent compared to China's 177 per cent, India's 117 per cent, Indonesia's 90 per cent, Malaysia's 78 per cent, Australia's 41 per cent and Brazil's 17 per cent.

GDP growth is an increase in goods and services produced domestically by a nation over a specific period. It doesn't take into account products and services in informal sectors. In Bangladesh, there are issues of unemployment and disparity that create barriers to commoners in enjoying the fruits of development. The government is talking about inclusive growth and the people deserve access to welfare measures that should accompany the growth. In this context, improvement in quality of education and upgrading and use of modern technology may be critical factors in making the GDP growth inclusive. Banking on the steady growth, the government of Bangladesh can ensure welfare of all citizens. Our government should focus on the high economic growth by setting some homegrown, pragmatic goals to ensure sustainable development in future.

Md. Zillur Rahaman

Gandaria, Dhaka