NEC approves country’s 1st perspective plan
Dhaka, May 10 (UNB) - The National Economic Council (NEC) on Thursday approved the country’s first Bangladesh Perspective Plan (2010-2021), aiming to achieve 10 percent GDP growth by 2021.
The plan also outlines the strategies that Bangladesh wants to adopt and the targets it wants to achieve ahead of its 50th anniversary of independence.
The approval was given at a meeting held at the NEC conference room with Prime Minister Sheikh Hasina in the chair.
The summary paper presented at the meeting says that the Perspective Plan 2010-2021 have set solid development targets for Bangladesh and those targets, if achieved, will transform the country into the first stages of a middle-income economy by 2021.
Besides, it presents the challenges behind this transformation and the strategies to combat those challenges.
According to the summary paper, the perspective plan document targets the annul real GDP growth rate to rise by 8 percent by the year 2015 and further to 10 percent by 2021, while the per capita annual income to about 2000 US dollars by 2021.
It also projects that the head count poverty rate would come down to 13.5 percent by the year 2021. However, the summary sheet adds that since the perspective plan is a policy type instructional plan, it avoids making any financial estimates.
The plan also focuses on keeping the annual inflation rate at 5.2 percent by 2021 through efficient management of both monetary and revenue policy. The outline of the plan has projected unemployment and disguised unemployment rate to be 20 percent by 2015 and 15 percent by 2021.
According to the plan, the contributions of agriculture, industry and services sectors to the GDP have been fixed at 15, 32 and 52.5 percent respectively by 2015 and at 15, 37 and 48 percent by 2021.
It also emphasised augmenting power generation to 15,357 MW in 2015 and 20,000 MW by 2021, reducing gas-based power generation to 30 percent by 2021 as well as increasing coal-based power generation to 53 percent, nuclear power generation to 10 percent and renewable power generation to 3 percent.
It also aims to free Bangladesh from illiteracy by 2014, reduce the total fertility rate to 2.2 percent and the number of people below the poverty line to 13.5 percent by 2021.
The plan also aims to attain around 40 percent portion of GDP from the export earnings and remittance by 2021 as well as upgrade the Trade/GDP ratio to 65 percent, bring 95 percent people under broadband internet connection by 2021, introduce e-governance at all administrative levels by 2015, ensure 2122 kilo calorie food to all everyday, enhance public expenditure in education sector to 6 percent of Gross National Products (GNP) from the existing 2.24 percent, increase fisheries production to 4139000 metric tonnes in stagnant water by 2021.
Briefing reporters after the meeting, Planning Minister AK Khandker said the General Economics Division (GED) of Bangladesh Planning Commission has finalised the perspective plan under the instruction of the Prime Minister.
GED Member Prof Shamsul Alam and Acting Planning Division Secretary Bhuiyan Shafiqul Islam were present.
The Planning Minister said the plan highlights a pragmatic multidimensional approach in producing an innovative and competitive economy, and the opportunity it creates allows us to achieve a caring society.
The minister said the perspective plan was formulated keeping the Vision-2021 in mind and in line with the nation's political, social and economic philosophy as well as the existing laws and policies of the country.
It also contains the main features of the long- and mid-term action plans undertaken by different ministries.
NEC members, including Finance Minister AMA Muhith, Planning Minister AK Khandker, Agriculture Minister Matia Chowdhury, advisers to the Prime Minister, members of the Planning Commission, secretaries and officials concerned attended the meeting.
The plan also outlines the strategies that Bangladesh wants to adopt and the targets it wants to achieve ahead of its 50th anniversary of independence.
The approval was given at a meeting held at the NEC conference room with Prime Minister Sheikh Hasina in the chair.
The summary paper presented at the meeting says that the Perspective Plan 2010-2021 have set solid development targets for Bangladesh and those targets, if achieved, will transform the country into the first stages of a middle-income economy by 2021.
Besides, it presents the challenges behind this transformation and the strategies to combat those challenges.
According to the summary paper, the perspective plan document targets the annul real GDP growth rate to rise by 8 percent by the year 2015 and further to 10 percent by 2021, while the per capita annual income to about 2000 US dollars by 2021.
It also projects that the head count poverty rate would come down to 13.5 percent by the year 2021. However, the summary sheet adds that since the perspective plan is a policy type instructional plan, it avoids making any financial estimates.
The plan also focuses on keeping the annual inflation rate at 5.2 percent by 2021 through efficient management of both monetary and revenue policy. The outline of the plan has projected unemployment and disguised unemployment rate to be 20 percent by 2015 and 15 percent by 2021.
According to the plan, the contributions of agriculture, industry and services sectors to the GDP have been fixed at 15, 32 and 52.5 percent respectively by 2015 and at 15, 37 and 48 percent by 2021.
It also emphasised augmenting power generation to 15,357 MW in 2015 and 20,000 MW by 2021, reducing gas-based power generation to 30 percent by 2021 as well as increasing coal-based power generation to 53 percent, nuclear power generation to 10 percent and renewable power generation to 3 percent.
It also aims to free Bangladesh from illiteracy by 2014, reduce the total fertility rate to 2.2 percent and the number of people below the poverty line to 13.5 percent by 2021.
The plan also aims to attain around 40 percent portion of GDP from the export earnings and remittance by 2021 as well as upgrade the Trade/GDP ratio to 65 percent, bring 95 percent people under broadband internet connection by 2021, introduce e-governance at all administrative levels by 2015, ensure 2122 kilo calorie food to all everyday, enhance public expenditure in education sector to 6 percent of Gross National Products (GNP) from the existing 2.24 percent, increase fisheries production to 4139000 metric tonnes in stagnant water by 2021.
Briefing reporters after the meeting, Planning Minister AK Khandker said the General Economics Division (GED) of Bangladesh Planning Commission has finalised the perspective plan under the instruction of the Prime Minister.
GED Member Prof Shamsul Alam and Acting Planning Division Secretary Bhuiyan Shafiqul Islam were present.
The Planning Minister said the plan highlights a pragmatic multidimensional approach in producing an innovative and competitive economy, and the opportunity it creates allows us to achieve a caring society.
The minister said the perspective plan was formulated keeping the Vision-2021 in mind and in line with the nation's political, social and economic philosophy as well as the existing laws and policies of the country.
It also contains the main features of the long- and mid-term action plans undertaken by different ministries.
NEC members, including Finance Minister AMA Muhith, Planning Minister AK Khandker, Agriculture Minister Matia Chowdhury, advisers to the Prime Minister, members of the Planning Commission, secretaries and officials concerned attended the meeting.
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