2024-02-20 19:45:53
Planning Minister Major General (retd) Abdus Salam said the government is implementing medium and long-term multidimensional plans to reduce the gap between the rich and the poor.
Monday (February 19) in the question and answer session of the Jatiya Party (Japa). He said this in response to Mujibul Haque’s written question. Speaker of the parliament session. Shirin Sharmin Chowdhury presided.
The planning minister said that the Awami League-led government is implementing a mid-term and long-term multidimensional plan to reduce income inequality or the gap between the rich and the poor. Under the efficient economic management and strong leadership of Prime Minister Sheikh Hasina, the privileged daughter of Father of the Nation Bangandhu Sheikh Mujibur Rahman, Bangladesh has achieved considerable progress in various indicators of economic and social development during the last 15 years of the current government.
He said that the GDP growth rate increased from 3.45 percent in 2019-20 financial year to 7.10 percent in 2021-22 financial year despite the unstable global situation. The national poverty rate fell from 24.3 percent in 2016 to 18.7 percent in 2022. The extreme poverty rate also fell by more than half from 12.9 percent in 2016 to 5.6 percent in 2022. That is, according to the eighth five-year plan, the target of reducing extreme poverty by 2025 (7.4 percent), has already been achieved.
Abdus Salam said that although achieving a high rate of economic growth and significant reduction in poverty, reducing income inequality is a matter of time. According to the latest BBS household income-expenditure survey, the Gini coefficient value of income inequality in 2022 is 0-499. However, on the basis of consumption, inequality in Bangladesh stands at 0:30-0.32, which has reduced the impact of income inequality.
The minister said that economists believe that consumption expenditure is a more reliable measure of inequality. Income inequality is a natural feature of market economies, rooted in the unequal distribution of wealth and human capital. Inclusive growth, i.e. if the benefits of growth are equally distributed among all the population, it is possible to reduce income inequality. The government is serious about eradicating poverty and income inequality. Inclusive economic development is at the core of all long and medium term planning development strategies of the government.