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1 Ans The major impediments to development need to be effectively addressed

Asked by Birds of the sky (1 Gold) Thursday, 03 Dec 2020, 06:56 AM at (Jobs Job Preparation)

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 To become a #developed country by 2041, the major impediments to development need to be effectively addressed. 

Therefore, there is urgent need to: 

(i) Further increase public spending on infrastructure development; 

(ii) Increase the investment-GDP ratio, and encourage greater investments in the private sector; 

(iii) Increase export earnings by both increasing the volume and quality of RMG products as well as by considerably diversifying export basket and exploring new markets; 

(iv) Increase inward remittances by providing adequate skills to the migrant workers, exploring new countries of destination, and further improving banking channels for receiving inward remittances; 

(v) Create adequate number of "decent jobs" to provide the workforce with reasonable wages and decent standard of living; 

(vi) Make required investments in the health and education sectors to be able to reap the benefits of "demographic dividend";

 (vii) Ensure continued growth in agriculture, despite loss of arable land and threats of natural disasters; 

(viii) Increase efficiency and productivity in the SME sector by duly addressing various challenges faced by the sector; 

(ix) Increase private sector credit to the productive sectors; 

(x) Improve efficiency, management, governance, leadership, and transparency in the banking sector to check money laundering and other scams and recover NPLs, which could, then, be used for productive investment; 

(xi) Strengthen macro prudential frameworks and enhance exchange rate flexibility to improve resource allocation, reduce vulnerabilities and boost resilience; 

(xii) Ensure inclusive growth and development; and last, but not the least, 

(xiii) Improve efficiency, transparency, accountability and overall governance, both in the public and the private sectors.


Answered by Birds of the sky (1 Gold) Thursday, 03 Dec 2020, 06:57 AM

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