Bangladesh's Eighth Five Year Plan (2021-25): Development Strategy and Interests of the 'Left Behind'
Proposed Strategic Framework for Eighth Five Year Plan
Employment-Focused Inclusive Development
(Orientation on LNOBS and PNOBs)
Productivity growth and social
innovation
→ Economy-wide diversification
→ Welfare protection (wellbeing
promotion)
Post-COVID rebound
→ Beyond traditional income poor to
socially excluded and emerging middle
class
→ Domestic demand driven
→ Focused on post-harvest agriculture
/rural and non-farm actors, CMSMES
Climate resilient
Macroeconomic Stability Anchored on Low Inflation
Complimentary: Exchange Rate/Current Account Balance/Fiscal Deficit/Interest Rate
Domestic Resource
Mobilisation → emphasis on
direct taxes (income +
asset), greater tax coverage,
curbing illicit financial flows
Enhanced allocation and
improved quality of
resource development
services (health+education)
Animating Private Sector
Investment (Domestic +
Foreign)
Balanced Global Integration
(Beyond RMG and Semi-
skilled overseas
employment)
→ More Active Use of Fiscal Instruments vis-à-vis Monetary Instruments
Effectiveness: Improved Public
Policy and Institutional
Effectiveness (e.g. controlling
inflated project costs)
Transparency:
Disaggregated
Data and
Disclosure
Deb. Bhattacharya: Development Strategy and the Left Behind
Three Strategic Safeguards
Accountability:
Enforcing Social
Accountability
Universal Social Protection
(Scheme + Insurance)
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