Dhaka, Bangladesh (BBN) – The National Economic Council (NEC) has approved first Bangladesh Perspective Plan (2010-2021) aiming to achieve 10 percent gross domestic product (GDP) growth by 2021.
The approval was given at a meeting held at the NEC conference room in the capital Dhaka on Thursday 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.
According to the summary paper, the perspective plan document targets the annul real GDP growth rate to rise by 8.0 percent by the year 2015 and further to 10 percent by 2021, while the per capita annual income to about US$2000 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.
It also emphasized 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 General Economics Division (GED) of Bangladesh Planning Commission has finalized the perspective plan under the instruction of the Prime Minister, Planning Minister AK Khandker told reporters after the meeting.
The 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.
BBN/SSR/AD-11May12-2:20 pm (BST)