Bangladesh improves its HDI ranking

Bangladesh's one slot improvement in the Human Development Index (HDI) as such does not look impressive but this small move assumes a special significance when it is known that most of its Asian neighbours remain where they were. That the Human Development Report (HDR) 2014 of the United Nations Development Programme (UNDP) has placed the country in a select group 'highlighted 18 countries' along with China, India, Malaysia and Vietnam actually makes a strong statement in its favour. The full import can be realised when Bangladesh's performance in gender equality is compared with that of India and Pakistan. In the gender equality index, the country is ranked 115, far ahead of India and Pakistan -both ranked at 127. On account of inclusive development too, Bangladesh has done far better than India, Pakistan and Nepal. Compared with relative political peace obtaining in some of its neighbours, the country has achieved all this against overwhelming odds.
A common complaint here is that uneven distribution of wealth has created a super rich segment in society. The argument in its favour becomes all the more forceful when disclosure is made that some Bangladeshis have started stashing away money in Swiss banks. Money laundering and similar other efforts have certainly drained away the country's resources which could be used for further wealth creation and poverty reduction. Notwithstanding such negative economic developments, the country's record of poverty reduction has received appreciation from different quarters including the global community. During the period between 2010 and 2014 alone, the country has succeeded to reduce its extreme poverty by 4.2 per cent and poverty by 5.9 per cent. The Bangladesh Bureau of Statistics (BBS) estimates on the basis of its Household Income and Expenditure Survey (HIES) that the percentage of people living in poverty has stood at 25.6 per cent in June 2014 from as high as 49 per cent in 2000. The trickle-down benefit of economic development has started to flow a little steadily. Sure enough it could gain momentum if only corruption and abuse of power and public property could be halted.
Poverty reduction is important because inclusive development takes care of the living standard as well. Possession of wealth does not always translate into a better living and in economic terms HDI index. Although HDI does not fully capture the standard of living, it grossly gives an indication of the well-being of individuals living in society. On that count, poverty reduction is a major factor but certainly not the only one. Education, culture, healthcare, sanitation and a whole range of human activities essential for living a healthy, elevated and peaceful life are a precondition for social progress. All governments work towards achieving the highest possible living standard for their citizens. But they are constrained in different ways to achieve the most desirable. Bangladesh society has come a long way off but surely its potential has not been exploited fully. There is a gap between what it has achieved and what it could do. The promises it has shown should make all optimistic about its future.