Bangladesh has come a long way since its independence in 1971, registering impressive performance on economic and social indicators.
New Delhi: India, the fastest growing major economy, is seen as the powerhouse of South Asia, but this may soon change.
Having already stolen a march over India on key social indices, small neighbour Bangladesh is now on the verge of establishing a lead on the economic front too.
According to the Asian Development Bank (ADB), Bangladesh is expected to post a growth rate of 7.5 per cent in 2018-19 against the 7.3 per cent projected for India.
India’s eastern neighbour saw a GDP growth of 7.28 per cent in the last financial year, according to the Bangladesh Bureau of Statistics (BBS), while India grew at 7.1 per cent.
The country’s per capita income is also growing at a pace three times India’s: According to United Nations Conference on Trade and Development figures cited in a Dhaka Tribune report, while India’s per capita income rose by 13.8 per cent between 2013 and 2016, Bangladesh’s grew by 39 per cent.
According to some estimates, if the country continues to keep up its gross national income (GNI) and GDP growth at the same pace for the next two years, it will overtake India’s per capita income by 2020.
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